AVM.L Regulatory News (AVM)

12 Jul 2007 07:01

Avocet Mining PLC12 July 2007 For immediate release Avocet Mining PLC ("Avocet" or "The Company") Directors' Dealings 12 July 2007 Issue of Options, Exercise of Options and Deferred Share Bonuses Issue of Share Options The Board of Avocet announces that the Company has today granted options over425,000 Ordinary Shares of 5p to employees. The exercise price for theseoptions is 135.5p and they cannot be exercised prior to the third anniversary ofthe date of issue, 12 July 2010, and exercise is subject to certain performancecriteria of the Company as detailed in the Avocet Mining Share Option Plan. Theoptions have an expiry date of 12 July 2014. Exercise of Share Options The Company was informed today that Jonathan Henry, Chief Executive Officer, hadon 11 July 2007 exercised 115,000 unapproved share options with an exerciseprice of 25p such shares to be issued from shares currently held in treasury bythe Company. His resultant total shareholding following this notification andthe purchase of shares notified separately today is 665,010 ordinary shares,representing 0.55 per cent of the issued share capital of the Company.Following this exercise of options, Mr Henry holds the following options: Number of options Exercise price Date from which Expiry date exercisable215,000 35.5p 5/2/06 5/2/10110,000 72p 27/11/06 27/11/10263,415 82p 14/7/08 14/7/1236,585 82p 14/7/08 14/7/10500,000 103.25p 15/11/09 15/11/11500,000 175.5p 14/7/09 14/7/13 Deferred Share Bonuses 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 12 July 2010, subject to remaining in the Group'sservice at that date. Existing number Number granted Total number of Date on which new of EBT shares EBT shares held shares vest Director N G McNair Scott 43,473 10,656 54,129 12 July 2010Sir Richard Brooke Bt. 15,650 4,098 19,748 12 July 2010J F Newman 12,520 3,279 15,799 12 July 2010R A Pilkington 12,520 3,279 15,799 12 July 2010M Donoghue - 3,279 3,279 12 July 2010R. Robertson - 3,279 3,279 12 July 2010 Contacts: Alan McFarlane, Company Secretary, Avocet Mining PLC, 020 7907 9000 Fiona Kindness, Director, Grant Thornton Corporate Finance, 020 7728 3414 This information is provided by RNS The company news service from the London Stock Exchange