Antofagasta PLC ANTO Long Term Incentive Plan Award

  Antofagasta PLC (ANTO) - Long Term Incentive Plan Award

RNS Number : 3885R
Antofagasta PLC
16 November 2012




                                      





For immediate release



Cleveland                              House 
 Telephone: + 44 20 7808 0988

33                                                                        King 
Street
Fax + 44 20 7930 7578

London     SW1Y      6RJ 
 info@antofagasta.co.uk

United Kingdom

                                      

      Long Term Incentive Plan awards to Persons Discharging Managerial
                                Responsibility

              Disclosures notified in accordance with DTR 3.1.2R

                                      

London, 16 November 2012



Antofagasta plc (the "Company") announces  that it received notification  that 
on 16 November 2012  awards calculated by reference  to the value of  ordinary 
shares in the Company ("Shares") were granted under the Antofagasta Long  Term 
Incentive Plan (the "LTIP")  to Persons Discharging Managerial  Responsibility 
("PDMRs") of the Company as set out below:



   Name               Position             N° Shares to which awards relates
                                          Performance Awards Restricted Awards
P. Troncoso General Manager, Minera                    7,243             7,243
            Michilla



These are  awards granted  under the  LTIP which  the Antofagasta  group  (the 
"Group") has established to reward senior executives in a way that aligns  the 
interests of LTIP participants with the interests of shareholders and with the
Group's long-term strategic plan. Directors  of the Company are not  eligible 
to participate in the LTIP.



Awards granted under the LTIP are conditional rights to receive a cash payment
by reference to the number of Shares relating to the relevant award which vest
under the LTIP.  The cash payment  is determined by  reference to the  market 
value of the Shares at vesting. No  Shares are issued to participants in  the 
LTIP. No consideration was paid for the grant of any awards.



Performance awards  are  subject  both to  performance  conditions  which  are 
measured over a three  year period (2012-2014)  and to continued  employment. 
Performance awards will  normally vest only  after the end  of the three  year 
performance period and only to the extent that the performance conditions  are 
met.



Restricted awards are subject to  continued employment and will normally  vest 
as to one third in January 2013, as to a further third in January 2014 and  as 
to the final third in January 2015.



As the PDMR  listed above  was only  appointed to  his current  role part  way 
through the year,  the payments  that he  will receive  under the  performance 
awards and  the  payment that  he  will receive  under  the first  tranche  of 
restricted awards will be pro-rated accordingly.



Enquiries - London                           Press Enquiries - London

Antofagasta plc                                  Bankside Consultants

Tel: +44 20 7808 0988                           Tel: +44 20 7367 8871

www.antofagasta.co.uk                                               

                                                    Simon Rothschild

Desmond O'Conor                  Email: simon.rothschild@bankside.com

Email: doconor@antofagasta.co.uk



Hussein Barma

Email: hbarma@antofagasta.co.uk



                                      

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCVQLFFLFFBFBZ -0- Nov/16/2012 18:05 GMT
 
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