Antofagasta PLC (ANTO) - Long Term Incentive Plan Award
RNS Number : 3885R
16 November 2012
For immediate release
Telephone: + 44 20 7808 0988
Fax + 44 20 7930 7578
London SW1Y 6RJ
Long Term Incentive Plan awards to Persons Discharging Managerial
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
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
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
Desmond O'Conor Email: firstname.lastname@example.org
This information is provided by RNS
The company news service from the London Stock Exchange
MSCVQLFFLFFBFBZ -0- Nov/16/2012 18:05 GMT
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