Director/PDMR Shareholding

RNS Number : 8029S

Hochschild Mining PLC

21 March 2016

 

Disclosure Rules and Transparency Rules 3.1.4R 

Hochschild Mining plc ('the Company') announces the changes detailed below in the interests of Ignacio Bustamante, an Executive Director of the Company, in the Ordinary Shares of the Company ('Shares').

Deferred Bonus Plan ("DBP")

- Vesting 

Following the vesting, on 20 March 2016, of the second tranche of the DBP award granted with respect to the deferred part of the 2013 bonus, Mr Bustamante has acquired 66,727 Shares for nil consideration.

- Grant of Award

Mr Bustamante was granted a conditional award over 80,766 Shares under the DBP on 16 March 2016 in respect of a part of his 2015 bonus. The number of Shares was calculated by reference to a price of 86.583 pence, being the average mid-market closing price of a Share for the three trading days prior to the grant of the award.

The award was granted for nil consideration and, subject to continued employment with the Hochschild Mining group, will vest as to 50% on the first anniversary of the grant date and as to the remaining 50% on the second anniversary of the grant date.

Total Interests

Following the vesting and grant of awards detailed above which took place in London and were notified to the Company on 21 March 2016, Mr Bustamante has:

(i)    a holding of 233,437 Shares; and

(ii)    an interest in conditional awards over 2,853,191* Shares (of which 1,572,338 Shares are subject only to continued employment, and 1,280,853* Shares are subject to performance conditions).

Raj Bhasin

Company Secretary

Tel: [phone]

* these figures reflect the fact that a conditional award over 102,365 Shares which was granted in 2011 under the Enhanced Long Term Incentive Plan will lapse on 28 April 2016 as the underlying performance conditions were not satisfied over the five-year performance period ending 31 December 2015

 

END

 

 

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