London Mining - Amendment of Performance condition and Share option
plan
(Thomson Reuters ONE) - London Mining announces certain changes to a share award granted toGraeme Hossie (Chief Executive and a primary insider) under the termsof the London Mining Long-Term Incentive Plan (the "Award" and the"LTIP") and the terms of the London Mining plc No.2 Share Option Plan(the "Share Option Plan").The Remuneration Committee has approved an amendment to the terms ofa performance condition attaching to the Award granted under theterms of the LTIP to Graeme Hossie on 13 August 2007 over 4,718,884Ordinary Shares, which provides for vesting on 13 August 2010. Theperformance condition has been amended so that, subject to continuedemployment with the Company, the Award will vest on 13 March 2010, orif earlier, on a change of control of the Company.The amendment of the Award has not had an impact on Graeme Hossie'sinterests in the Company's Ordinary Shares. These are as follows:together with his close associates, he will continue to have optionsover 3,000,000 Ordinary Shares pursuant to the Company's share optionplans, 4,718,884 Ordinary Shares pursuant to the LTIP and abeneficial interest in 3,750,000 Ordinary Shares.The Remuneration Committee has also approved an amendment to theterms of the Share Option Plan to allow options to be transferred,with the Board's prior consent.Further details of the LTIP and the Share Option Plan are set out inthe Prospectus dated 24 September 2007 which is available on theCompany's website (www.londonmining.co.uk).For more information, please contact:London Mining PlcThomas Credland, Head of Investor Relations +44 20 7201 5000Crux Kommunikasjon ASCharlotte Knudsen +47 9756 1959Threadneedle Communication (UK)Laurence Read/ Graham Herring +44 20 7653 9850About London MiningLondon Mining Plc is a UK-based company that is developing mines forthe steel industry. The company owns 100% of the Marampa hematiteiron ore mine in Sierra Leone, 100% of the Isua magnetite iron oreproject in Greenland, a 50% stake in on the Wadi Sawawin jointventure in Saudi Arabia and a 50% stake in the China Global MiningResources joint venture. It also has minority interests in SouthAfrica and Colombia. The Company listed on the Oslo Axess, amarketplace regulated by the Stock Exchange, on 9 October 2007. Ittrades under the symbol LOND.NO.http://hugin.info/137683/R/1352110/326999.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.11.2009 - 08:31 Uhr
Sprache: Deutsch
News-ID 7819
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