Release of EBT shares and interests of PDMRs (5119O)

TIDMAVM

RNS Number : 5119O

Avocet Mining PLC

20 September 2011

Avocet Mining PLC ("Avocet" or the "Company")

Release of EBT shares and interests of PDMRs

Satisfaction of historical deferred bonus awards

The Company announces that it has been informed by Maitland Trustees Limited ('Maitland'), Trustee of the Company's Employee Benefit Trust ('EBT'), that 43,549 ordinary shares of 5p each in the Company ("Shares") have been released to the beneficial ownership of plan members of the EBT. These EBT shares were allocated in July 2008 to employees of the Company as deferred share bonus awards. Specifically, the following Persons Discharging Managerial Responsibility ("PDMR") received shares as part of this release:

 
                      Number of shares 
-------------------  ----------------- 
 Robert Pilkington               2,750 
-------------------  ----------------- 
 Mike Donoghue                   2,750 
-------------------  ----------------- 
 Peter Flindell                 20,000 
-------------------  ----------------- 
 Mike Norris                    18,049 
-------------------  ----------------- 
 Total                          43,549 
-------------------  -----------------

Transfer of shares to spouse

The Company has been informed that Mike Norris, a PDMR, has transferred 389,726 Shares to his spouse. He will continue to include these Shares as his own for the purposes of establishing his interest in the Company.

Directors' and Primary Insiders share holdings

As a result of the above transactions, interests in shares held by the following directors and senior managers (primary insiders), either directly, through connected persons (eg spouse) or within the EBT or Avocet Shareholder Incentive Plan (SIP) will be as follows:

 
                                                         Restricted             Share 
                        Shares owned               shares held in EBT/SIP     options 
-----------  -----------------------------------  ------------------------  --------- 
             Unrestricted  Restricted      Total      EBT    SIP     Total 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
B Richards        660,209      69,363    729,572        -      -         -    934,838 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
M Norris          419,144      57,802    476,946        -  1,951     1,951  1,250,000 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
R Edey                  -           -          -   91,500      -    91,500          - 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
R 
 Pilkington       222,763           -    222,763        -      -         -          - 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
M Donoghue         38,029           -     38,029        -      -         -          - 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
H Arnet            74,495           -     74,495        -      -         -          - 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
B Rourke                -           -          -        -      -         -          - 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
R Gray            521,109                521,109        -      -         -    300,000 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
P Flindell        554,915      39,835    594,750        -      -         -    700,000 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
J Wynn              3,256           -      3,256   31,346  2,367    33,713    165,000 
-----------  ------------  ----------  ---------  -------  -----  --------  --------- 
                2,493,920     167,000  2,660,920  122,846  4,318   127,164  3,349,838 
-----------  ------------  ----------  ---------  -------  -----  --------  ---------

EBT Shareholding

Following the above releases, the EBT holds a total of 539,448 Ordinary Shares in Avocet Mining PLC, representing less than 0.3 per cent of the share capital in issue of the Company.

Total Voting Rights

The Company holds 723,899 Ordinary Shares in treasury representing less than 0.4 per cent of the total Ordinary Shares in issue. The total number of voting rights (being ordinary shares in issue less those held in treasury) amounts to 198,822,811

Contacts:

Jim Wynn, Company Secretary, Avocet Mining PLC, 020 7766 7676

Samantha Harrison, Jen Boorer, Ambrian Partners Limited, 020 7634 4700

This information is provided by RNS

The company news service from the London Stock Exchange

END

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