20 Sep 2011 07:00
Avocet Mining PLC ("Avocet" or the "Company")
Release of EBT shares and interests of PDMRs
Satisfaction of historical deferred bonus awards
The Company announces that it has been informed by Maitland Trustees Limited ('Maitland'), Trustee of the Company's Employee Benefit Trust ('EBT'), that 43,549 ordinary shares of 5p each in the Company ("Shares") have been released to the beneficial ownership of plan members of the EBT. These EBT shares were allocated in July 2008 to employees of the Company as deferred share bonus awards. Specifically, the following Persons Discharging Managerial Responsibility ("PDMR") received shares as part of this release:
Number of shares | |
Robert Pilkington | 2,750 |
Mike Donoghue | 2,750 |
Peter Flindell | 20,000 |
Mike Norris | 18,049 |
Total | 43,549 |
Transfer of shares to spouse
The Company has been informed that Mike Norris, a PDMR, has transferred 389,726 Shares to his spouse. He will continue to include these Shares as his own for the purposes of establishing his interest in the Company.
Directors' and Primary Insiders share holdings
As a result of the above transactions, interests in shares held by the following directors and senior managers (primary insiders), either directly, through connected persons (eg spouse) or within the EBT or Avocet Shareholder Incentive Plan (SIP) will be as follows:
Shares owned | Restricted shares held in EBT/SIP | Share options | |||||
Unrestricted | Restricted | Total | EBT | SIP | Total | ||
B Richards | 660,209 | 69,363 | 729,572 | - | - | - | 934,838 |
M Norris | 419,144 | 57,802 | 476,946 | - | 1,951 | 1,951 | 1,250,000 |
R Edey | - | - | - | 91,500 | - | 91,500 | - |
R Pilkington | 222,763 | - | 222,763 | - | - | - | - |
M Donoghue | 38,029 | - | 38,029 | - | - | - | - |
H Arnet | 74,495 | - | 74,495 | - | - | - | - |
B Rourke | - | - | - | - | - | - | - |
R Gray | 521,109 | 521,109 | - | - | - | 300,000 | |
P Flindell | 554,915 | 39,835 | 594,750 | - | - | - | 700,000 |
J Wynn | 3,256 | - | 3,256 | 31,346 | 2,367 | 33,713 | 165,000 |
2,493,920 | 167,000 | 2,660,920 | 122,846 | 4,318 | 127,164 | 3,349,838 | |
EBT Shareholding
Following the above releases, the EBT holds a total of 539,448 Ordinary Shares in Avocet Mining PLC, representing less than 0.3 per cent of the share capital in issue of the Company.
Total Voting Rights
The Company holds 723,899 Ordinary Shares in treasury representing less than 0.4 per cent of the total Ordinary Shares in issue. The total number of voting rights (being ordinary shares in issue less those held in treasury) amounts to 198,822,811
Contacts:
Jim Wynn, Company Secretary, Avocet Mining PLC, 020 7766 7676
Samantha Harrison, Jen Boorer, Ambrian Partners Limited, 020 7634 4700