Hochschild Regulatory News (HOC)

4 Oct 2007 15:47

Hochschild Mining PLC04 October 2007 Notification of transactions of directors, persons discharging managerialresponsibility or connected persons In accordance with Disclosure Rule 3.1.4R(1), Hochschild Mining plc (the"Company") announces that it was notified today that Eduardo Hochschild andAlberto Beeck, executive directors of the Company, have reorganised theirshareholding interests in the Company in a manner that requires disclosure under Disclosure Rule 3.1.2R, further details of which are set out below. In order to effect the reorganisation a waiver of the lock-up entered into at the time of the Company's initial public offering ("IPO") was granted byJPMorgan Cazenove and Goldman Sachs International, the joint global coordinatorsof the IPO. No shares in the Company were transferred to a third party as aresult of the reorganisation, with the combined shareholding interest of MrHochschild and Mr Beeck remaining at 214,962,500 ordinary shares of £0.25 each(approx. 69.9% of the issued ordinary share capital of the Company). All ofthese shares remain subject to the terms of the lock-up for the remainder of its term. Details of reorganisation Mr Hochschild and Mr Beeck previously held their interests in the Companythrough a jointly held holding company that also holds interests in otherbusiness ventures. For purposes of the Disclosure Rules, Mr Hochschild wasdeemed to own one hundred percent of such interests in the Company.The effects of the reorganisation, which was implemented on 3 October 2007, for the purposes of the disclosure obligations under Disclosure Rule 3.1.2R were as follows: • Mr Hochschild's voting interest in the Company was reduced by 33,612,074 ordinary shares (from 214,962,500 ordinary shares to 181,350,426 ordinary shares) in consideration for a transfer of Mr Beeck's interest in the holding company; and • Mr Beeck acquired a voting interest in 33,612,074 ordinary shares of the Company together with a cash sum. Enquiries:Hochschild Mining plcWray Barber +44 (0)20 7152 6014Head of Investor Relations FinsburyRobin Walker +44 (0)20 7251 3801Public Relations About Hochschild Mining plc Hochschild Mining plc (HOC.L for Reuters / HOC LN for Bloomberg) is a publiclyheld company listed on the London Stock Exchange. Hochschild is a leadingprecious metals company with a primary focus on the exploration, mining,processing and sale of silver and gold. Hochschild currently operates fiveunderground epithermal vein mines, four located in southern Peru and one insouthern Argentina and one open pit mine in northern Mexico. Hochschild also hasone early stage development project in Mexico and fifteen long-term prospectsthroughout Latin America. Hochschild has over forty years experience in themining of precious metal epithermal vein deposits. This information is provided by RNS The company news service from the London Stock Exchange