AVM.L Regulatory News (AVM)

14 Jul 2005 07:00

Avocet Mining PLC14 July 2005 For immediate release Avocet Mining Plc ("Avocet" or "The Company") 14 July 2005 Issue of Options and Deferred Share Bonuses The Board of Avocet announces that the Company has granted options over2,100,000 Ordinary Shares of 25p to employees and directors. The exercise pricefor these options is 82p and they cannot be exercised prior to the thirdanniversary of the date of issue and exercise is subject to certain performancecriteria of the Company as detailed in the Avocet Mining Share Option Planapproved by shareholders of the Company. The options have an expiry date of 14July 2012. The options have been granted to directors as follows: Directors' Name Number of options Total number of options held John Catchpole 400,000 1,409,000 Jonathan Henry 300,000 890,000 Gordon Toll 138,000 138,000 Under the terms of the Company's Employee Benefit Trust ("EBT"), the followingdirectors have been granted a deferred share bonus which will be issued to thedirectors at any time after 14 July 2006, subject to remaining in the Group'sservice at that date.Director Existing number Number Granted Total number of Date at which of EBT shares EBT shares held new shares vest J T Catchpole 280,757 98,478 379,235 14/7/06, 14/07/07, 14/07/08 in equal instalmentsJ G Henry 194,100 74,109 268,209 14/7/06, 14/07/07, 14/07/08 in equal instalmentsN G McNairScott 28,571 33,452 62,023 14/07/08Sir RichardBrooke Bt. 5,714 12,866 18,580 14/07/08J F Newman 5,714 10,293 16,007 14/07/08R A Pilkington 5,714 10,293 16,007 14/07/08 This information is provided by RNS The company news service from the London Stock Exchange