POG.L Regulatory News (POG)

4 Jun 2009 15:30



4th June 2009

Director's Dealings

Peter Hambro Mining plc ("PHM") announces that it been notified by Peter Hambro, Chairman, and Dr. Pavel Maslovsky, Chief Executive, of the information set out below.

Peter Hambro and Pavel Maslovskiy, and their associates, have, under the terms of the original financing transaction, chosen to settle their previously disclosed equity derivative transaction with Goldman Sachs International ("GSI) by electing to repay GSI by physical settlement of 3 million ordinary shares in PHM previously stock lent to GSI at an equivalent price of £11.40 per PHM share.

GSI has previously hedged this transaction and as such a minimal number of shares will be sold in the market.

As previously announced, the financing transaction was entered into on 17 July 2006 between Peter Hambro Limited ("PHL"), a company associated with Peter Hambro, and GSI for a period of two years, principally for the purpose of acquiring shares in Aricom PLC, and was extended for a further year on 18 June 2008. PHL undertook the financing transaction on behalf of itself and Macaria Investments Limited, a company associated with Pavel Maslovskiy.

Mr. Hambro's associates' share of the transfer to GSI is 777,778 shares and Dr. Maslovskiy's associates' share is 2,222,222 shares. Following the transfer to GSI described above, Mr. Hambro and his associates' shareholding in PHM will be 10,042,843 shares (representing 5.9% of PHM) and Dr. Maslovskiy and his associates' shareholding in PHM will be 18,224,756 shares (representing 10.65% of PHM).

Mr. Hambro and his associates further hold a nominal value of US$7.45 million of the convertible bonds due in August 2010 issued by Peter Hambro Mining Group Finance Limited ("Convertible Bonds") and convertible at their option 577,671 into ordinary shares in PHM. 

Dr. Maslovskiy and his associates further hold a nominal value of US$6.95 million of the Convertible Bonds which are convertible at their option into 538, 901 ordinary shares of PHM.

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