GRANT OF SHARE INCENTIVE AWARDS (2215F)

TIDMLOND

RNS Number : 2215F

London Mining Plc

12 June 2012

London Mining Plc

Quoted on London AIM (LOND LN)

("London Mining" or the "Company")

12 June 2012

Grant of share incentive awards

London Mining, the UK based developer of mines for the global steel industry, announces that, further to a review of remuneration and in keeping with its policy of attracting, retaining and incentivising top talent within the industry, it has made grants of performance related share options and performance related long term incentive shares to various employees across the London Mining group of companies, including new appointments, in London, Greenland and Sierra Leone. The performace related grants to employees underpin a pay-for-performance culture, strongly align remuneration with shareholders' interests and link remuneration with strategy and objectives of the business. A total of 940,000 share options under the Number 1 plan ("No 1 Options"), 135,000 share options under the Number 2 plan ("No 2 Options"), 2,076,731 nil-cost option shares under the London Mining Long Term Incentive Plan (the "LTIP Awards") and 888,369 nil-cost option awards in respect of deferred bonus awards under the London Mining Plc Deferred Bonus Plan (the "Deferred Awards") have been granted.

As part of these grants throughout the Group, London Mining has granted to the Executive Directors LTIP Awards in accordance with its stated remuneration policy and Deferred Awards as described in the Remuneration Report in the 2011 Annual Report , as follows:

Graeme Hossie ( the Company's Chief Executive Offer (CEO))received a nil-cost option award over 437,209 Ordinary Shares under the terms of the LTIP and a Deferred Award over 167,441 ordinary shares.

Rachel Rhodes received a nil-cost option award over 197,974 Ordinary Shares under the terms of the LTIP and a Deferred Award over 109,302 Ordinary Shares.

Benjamin Lee received a nil-cost option award over 176,860 Ordinary Shares under the terms of the LTIP and a Deferred Award over 86,046 Ordinary Shares.

Luciano Ramos received Deferred Awards over 420,930 Ordinary Shares.

LTIP awards and Deferred Awards are to be satisfied by the EBT purchasing shares in the market to meet vesting forecasts from time to time.

LTIP Awards may be exercised between the third and tenth anniversaries of their respective dates of grant. The vesting of all the LTIP Awards is subject to continued employment with the Company and the satisfaction of rigorous performance conditions including the satisfaction of relative total shareholder return targets as detailed in the Company's recently released 2011 Annual Report.

Deferred Awards may be exercised subject to continued employment with the Company between the second and tenth anniversaries of their respective grant dates. Rights to acquire 300,000 of the Ordinary Shares under the terms of the Deferred Awards granted to Luciano Ramos will be exercisable between the third and tenth anniversaries of the grant date and are subject to other rigorous performance conditions.

As part of the Company's remuneration review, the Company has also awarded the CEO a one-off nil-cost option award over 800,000 Ordinary Shares under the terms of the LTIP as a retention Award. The Remuneration Committee of the Board of the Company are of the view that this award both recognises the achievements made by the CEO over the past 3 years, where enterprise value of the Company has increased significantly and the Company has once again moved from a developer to a producer, and incentivises the CEO's retention and focus on achieving significant and transformational future goals for the Company. The vesting of the CEO LTIP Award is also subject to continued employment with the Company for a minimum of three years and the satisfaction of rigorous performance conditions including the satisfaction of relative total shareholder return targets as detailed in the Company's recently released 2011 Annual Report, achievement of minimum production and production growth targets within the period and achieving committed funding for either the construction of the first phase of the Company's Isua, Greenland project or the second phase of the Company's Marampa project.

For more information please visit www.londonmining.co.uk or contact:

London Mining Plc +44 (0)20 7408 7500

Graeme Hossie, Chief Executive Officer

Rachel Rhodes, Chief Financial Officer

Rohit Bhoothalingam, Head of Legal

Liberum Capital (Nominated Advisor/Broker) +44 (0)20 3100 2000

Clayton Bush/Christopher Kololian

J.P. Morgan Cazenove (Broker) +44 (0)20 7742 4000

Neil Passmore / Ignacio Borrell

Brunswick Group +44 (0)20 7404 5959

Carole Cable / Rosheeka Field

About London Mining

London Mining is focused on identifying, developing and operating mines to become a mid-tier supplier to the global steel industry. London Mining is producing high specification iron ore from its Marampa mine in Sierra Leone and developing two other iron ore mines in Greenland and Saudi Arabia as well as a coking operation in Colombia. All London Mining's assets have deliverable production with potential for expansion. The Company listed on AIM in London on 6 November 2009. It trades under the symbols LOND.L (Reuters) and LOND LN (Bloomberg). More information about London Mining can be found at www.londonmining.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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