Last checked at 31 Dec 2014 10:12
31 December 2014
Disclosure and Transparency Rule 3.1.4R
Hochschild Mining plc ('the Company') announces a change in the interests of Ignacio Bustamante, an Executive Director of the Company, in the Ordinary Shares of the Company ('Shares').
Restricted Share Plan
Following the approval of the Restricted Share Plan (the "Plan") by the Company's shareholders, Ignacio Bustamante was granted a conditional award over 1,319,392 Shares under the Plan on 30 December 2014. The number of Shares was calculated by reference to a price of 102.21 pence, being the average market value of Shares for the three months prior to the grant of the award. Mr Bustamante will become entitled to receive 20% of the Shares after each of 2, 3 and 4 years and the balance after 5 years subject to satisfactory performance and continued employment with the Hochschild Mining group.
The award, which was granted for nil consideration, is intended to be satisfied through the issue of new Shares. Further details of the Plan can be found in the circular mailed to shareholders dated 10 December 2014 which is available on the Company's website.
Total Interests
Following the grant of awards, which took place in London and was notified to the Company on 30 December 2014, Mr Bustamante has:
(i) a holding of 62,219 Shares; and
(ii) an interest in conditional awards over 2,751,538 Shares.
Raj Bhasin
Company Secretary
Tel: + 44 (0)7825 533495