EGU.L Regulatory News (EGU)

5 Jul 2007 16:47

European Goldfields Ltd05 July 2007 Immediate Release 5 July 2007 European Goldfields Limited ("the Company") Director's Shareholding On 11 August 2006, the Company announced that it had granted 150,000 restrictedshare units ("RSUs") to Timothy Morgan-Wynne, the Company's newly appointedDirector and Chief Financial Officer, under the Company's Restricted Share UnitPlan. Of such RSUs, 75,000 were redeemed into an equal number of Common Sharesof the Company on 31 May 2007, from which the Company withheld 30,000 shares fortax purposes. As a result, Timothy Morgan-Wynne now holds 45,000 Common Sharesof the Company representing 0.03% of the issued share capital of the Company.The remaining 75,000 RSUs are redeemable for an equal number of Common Shares ofthe Company on 31 May 2008, from which the Company also expects to withhold30,000 shares for tax purposes upon redemption. On 5 July 2007, David Reading, the Company's Chief Executive Officer, exchanged200,000 options for 101,292 Common Shares of the Company under the Company'sShare Option Plan. Of such shares, 40,517 were withheld by the Company for taxpurposes. As a result, David Reading increased his holding to 425,775 CommonShares of the Company, representing 0.24% of the issued share capital of theCompany. In addition, David Reading retains 560,000 share options in theCompany. The Company currently has 178,288,159 Common Shares outstanding. This information is provided by RNS The company news service from the London Stock Exchange