Incentive Plan Awards

RNS Number : 7705U

Antofagasta PLC

30 December 2011

 



Antofagasta  plc

For immediate release

Cleveland House                                                              Telephone: + 44 20 7808 0988

33 King Street                                                                  Fax + 44 20 7930 7578

London SW1Y 6RJ                                                           [e-mail]

United Kingdom

Long Term Incentive Plan awards to Persons Discharging Managerial Responsibility

Disclosures notified in accordance with DTR 3.1.2R

London, 30 December 2011

Antofagasta plc (the "Company") announces that it received notification that on 29 December 2011 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
M. Awad	CEO, Antofagasta Minerals S.A.	19,395	19,395
H. Menares	Vice-President of Operations	15,265	15,265
R. Muhr	Vice-President of Mining Resources	14,816	14,816
G. Von Borries	Vice-President of Projects	14,142	14,142
A. Rivera	Vice-President of Development & Corporate Finance	13,469	13,469
G. Sanchez	Vice-President of Commercial	10,775	10,775
C. Nakousi	Vice-President of Strategic Planning	10,596	10,596
F. Carvajal	General Manager, Minera El Tesoro	9,967	9,967
R. Jorquera	General Manager,  Minera Michilla	9,967	9,967
C. Thiele	General Manager, Minera Esperanza	8,082	8,082
F. Veloso	Vice-President of Corporate Affairs	6,869	6,869
L. Mualim	Vice-President of Risk and Audit	5,388	5,388

These are the first 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 after the first anniversary of grant, as to a further third after the second anniversary of grant and as to the final third after the third anniversary of grant.

Enquiries - London Antofagasta plc Tel: [phone] www.antofagasta.co.uk Desmond O'Conor Email: [e-mail] Hussein Barma Email: [e-mail]

Press Enquiries - London Bankside Consultants Tel: [phone] Simon Rothschild Email: [e-mail]

 

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