Avocet Mining PLC Share Transaction by PDMR (3204P)
September 30 2013 - 11:50AM
UK Regulatory
TIDMAVM
RNS Number : 3204P
Avocet Mining PLC
30 September 2013
30 September 2013
Avocet Mining PLC
Share Transaction by PDMR
Release of Deferred Bonus Shares from EBT
Avocet Mining PLC ('Avocet' or 'the Company) announces that,
following its request, Maitland Trustees Limited, Trustee of the
Company's Employee Benefit Trust ('EBT'), released 91,500 ordinary
shares of 5p each in the Company to Russell Edey, a Person
Discharging Managerial Responsibility ('PDMR'), on 27 September
2013.
These shares represent 2010 deferred share bonus awards, which
vested after a period of three years.
Of these, Russell Edey sold 41,175 shares at a price of 15.56
pence on 27 September 2013, in order to settle income tax and other
liabilities associated with the award.
EBT shareholding
Following the above release, the EBT holds a total of 334,300
ordinary shares in Avocet, representing 0.17 per cent of the share
capital in issue of the Company.
PDMR interests
As a result of the above transaction, interests in shares held
by the following Directors and senior managers (primary insiders),
either directly, through connected persons (e.g. family members),
or within the EBT or Avocet Shareholder Incentive Plan ('SIP') will
be as follows:
Shares owned Restricted PSP shares Share options
shares held in EBT/SIP
------------- ------------ --------------------------- ---------- -------------
EBT SIP Total
------------- ------------ --------- ------ -------- ---------- -------------
D Cather 50,000 14,925 - 14,925 1,000,000 1,000,000
------------- ------------ --------- ------ -------- ---------- -------------
M Norris 525,695 16,788 1,951 18,739 525,000 1,670,000
------------- ------------ --------- ------ -------- ---------- -------------
R Edey 150,325 - - - - -
------------- ------------ --------- ------ -------- ---------- -------------
R Pilkington 222,763 - - - - -
------------- ------------ --------- ------ -------- ---------- -------------
M Donoghue 38,029 - - - - -
------------- ------------ --------- ------ -------- ---------- -------------
P Flindell 562,151 - - - 130,000 865,000
------------- ------------ --------- ------ -------- ---------- -------------
J Wynn 31,894 - 2,367 2,367 195,000 625,000
------------- ------------ --------- ------ -------- ---------- -------------
J Lee 61,397 - - - - 275,000
------------- ------------ --------- ------ -------- ---------- -------------
R Demblon - - - - 195,000 485,000
------------- ------------ --------- ------ -------- ---------- -------------
R Simmons 2,324 - - - - 505,000
------------- ------------ --------- ------ -------- ---------- -------------
M Platts - - - - - 180,000
------------- ------------ --------- ------ -------- ---------- -------------
Total 1,644,578 31,713 4,318 36,031 2,045,000 5,605,000
------------- ------------ --------- ------ -------- ---------- -------------
FOR FURTHER INFORMATION PLEASE CONTACT
Avocet Mining PLC Pelham Bell Pottinger J.P. Morgan Cazenove Arctic Securities SEB Enskilda
Financial PR Consultants Corporate Broker Financial Adviser Financial Adviser
================= ========================= ========================= ================== ==================
David Cather, CEO Daniel Thöle Michael Wentworth-Stanley Arne Wenger Fredrik Cappelen
Mike Norris, FD Petter Bakken
Rob Simmons, IR
----------------- ------------------------- ------------------------- ------------------ ------------------
+44 20 7766 7676 +44 20 7861 3232 +44 20 7742 4000 +47 2101 3100 +47 2100 8500
NOTES TO EDITORS
Avocet Mining PLC is a gold mining and exploration company
listed on the London Stock Exchange (ticker: AVM.L) and the Oslo
Børs (ticker: AVM.OL). The Company's principal activities are gold
mining and exploration in West Africa.
In Burkina Faso the Company owns 90% of the Inata Gold Mine. The
deposit at Inata currently comprises a Mineral Resource of 4.7
million ounces and an Ore Reserve of 1.0 million ounces. The Inata
Gold Mine poured its first gold in December 2009 and produced
135,189 ounces of gold in 2012.
Other assets in Burkina Faso include eight exploration permits
surrounding the Inata Gold Mine in the broader Bélahouro region.
The most advanced of these projects is Souma, some 20 kilometres
from the Inata Gold Mine, where there is a Mineral Resource
estimate of 0.8 million ounces.
In Guinea, Avocet owns exploration licences in the north east of
the country. Mineral Resource development has been ongoing since
2005 and the Tri-K project is the most advanced, which currently
has a Mineral Resource estimate of 3.2 million ounces and where a
feasibility study is underway.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCNKKDQPBKDACN
Avocet Mining (LSE:AVM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Avocet Mining (LSE:AVM)
Historical Stock Chart
From Jul 2023 to Jul 2024