London Mining Plc ANNUAL REPORT CLARIFICATION (7961F)

TIDMLOND

RNS Number : 7961F

London Mining Plc

29 April 2014

London Mining Plc

Quoted on London AIM (LOND LN)

("London Mining" or the "Company")

29 April 2014

ANNUAL REPORT CLARIFICATION

London Mining announces that following the release of its Annual Report and accounts for the year ended 31 December 2013, it would like to make a clarification with respect to the fees paid to the Chairman, Michael Miles.

Mr Miles received an annual fee in 2013 of USD 221,000. The Company can confirm that the USD 30,000 cash payment made to Mr Miles referenced in the Directors Remuneration table on page 76 of the Annual Report was part of his annual fees for 2013 and not a bonus payment. Pursuant to the terms of his appointment letter, the USD 30,000 was used by Mr. Miles to purchase shares in London Mining on the open market (as announced on 24 April 2013).

For more information please visit www.londonmining.com or contact:

 
 London Mining Plc 
  Graeme Hossie, Chief Executive Officer 
  Benjamin Lee, Chief Financial Officer 
  Thomas Credland, Head of Investor Relations     +44 (0)20 7408 7500 
 Liberum Capital (Nominated Advisor/Broker) 
  Richard Crawley / Tom Fyson / Ryan de Franck    +44 (0)20 3100 2000 
 J.P. Morgan Cazenove (Broker) 
  Ben Davies / Ignacio Borrell                    +44 (0)20 7742 4000 
 Brunswick Group LLP 
  Carole Cable / David Litterick                  +44 (0)20 7404 5959

About London Mining

London Mining is an expanding producer of high specification iron ore concentrate for the global steel industry and is focused on identifying, developing and operating sustainable mines. London Mining commenced production from its 100% owned Marampa Mine in Sierra Leone in 2011, producing 3.4Mwmt/a in 2013 and plans to expand the mine to a capacity of 6.5Mwmt/a. Marampa has sufficient resources to support a staged expansion to over 20Mwmt/a. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mwmt/a of iron ore production by developing mines in Greenland and Saudi Arabia. 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.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFFVSLIAFIS

London Mining (LSE:LOND)
Graphique Historique de l'Action
De Déc 2024 à Jan 2025