Toledo Mining Corporation PLC Toledo Mining Corporation Plc : Director Remuneration Disclosure
April 15 2013 - 2:00AM
UK Regulatory
TIDMTMC
15 April 2013
Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
Director Remuneration Disclosure
As disclosed in the Response Circular published on 19 March 2013,
Toledo's Remuneration Committee approved the conditional issue of a cash
bonus to Mr Victor Kolesnikov on 31 October 2012. The cash bonus would
become payable in the event of a change of control (as defined in the
City Code on Takeovers and Mergers) of the Company but would be
forfeited by Mr Kolesnikov in the event that the Company awarded options
to Mr Kolesnikov on the same terms before a change of control occured.
The bonus is calculated by reference to the differential between the
Offer price and unit strike prices (agreed at various premiums to the
closing share price on 30 October 2012) and any offer price as set out
below:
Basis units Strike Price
425,000 37.950 p
400,000 39.675 p
400,000 41.400 p
As no options were granted to Mr Kolesnikov since 31 October 2012, a
cash bonus of GBP126,912.50 crystallised when DMCI Mining Corporation's
interest in voting rights increased from 17.0 per cent. to 37.7 per
cent.
For further information, please visit www.toledomining.com or contact:
Victor Kolesnikov, CEO, Toledo Mining Corporation
+44 (0) 20 7290 3100
Richard Morrison / Jen Boorer, RFC Ambrian Ltd
+44 (0) 20 3440 6800
Anthony Shewell, Fin Public Relations
+44 (0) 20 7608 2280
Carina Corbett, 4C Communications Ltd
+44 (0) 20 3170 7973
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Toledo Mining Corporation PLC via Thomson Reuters ONE
HUG#1692914
http://www.toledomining.com/
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