ACACIA MINING PLC Allocation of nil-cost Options

 
TIDMACA 
 
Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
        Allocation of nil-cost options under Long-Term Incentive Plan 
 
Further to the resolutions passed at the 2017 Annual General Meeting ("AGM"), 
the Company has confirmed the allocation of nil-cost options to members of its 
executive leadership team in line with its annual incentive scheme. 
 
In 2017 the Company revised its Remuneration Policy and made related amendments 
to the rules of its Long-Term Incentive Plan ("LTIP") in order to increase the 
vesting and performance period to five years (from three years) and change the 
type of awards to nil-cost options ("options"). These changes were approved by 
Acacia's shareholders at the AGM. 
 
The vesting of each option award is subject to the assessment of the Company's 
TSR performance against the constituents of the Euromoney Global Gold Index 
over the five year performance period. No options will vest if Acacia's TSR is 
below the median TSR of the Index constituents over that period and Acacia's 
TSR must outperform the median TSR of the Index constituents by 50% in order 
for 100% of the options to vest. 
 
The market value of each award is determined by reference to the sum of the 
middle market quotation of an Acacia share over the five days prior to the date 
of grant, equal to 421.2 pence per Acacia share as of 26 April 2017, given that 
the relevant AGM resolutions were passed by shareholders on 20 April.  All 
option awards were allocated as of 26 April 2017 and are recorded as the 
"initial notification of the grant of nil cost options over ordinary shares 
pursuant to the Company's LTIP".  The place of the transaction for all awards 
was outside trading venue. The issuer for all option awards is Acacia Mining 
plc and the relevant identification code for all options is GB00B61D2N63. 
 
Further information as regards the rationale for making the relevant changes to 
the Acacia Remuneration Policy and LTIP rules and the relevant TSR performance 
assessment are provided as part of the Remuneration Report comprised within the 
2016 Annual Report and Accounts and the Explanatory Notes provided with the 
2017 AGM Notice. Both are available on the Acacia website: www.acaciamining.com 
 
For purposes of the information below, only Brad Gordon is a Director of the 
Company.  The relevant notifications have also been submitted to the Financial 
Conduct Authority. 
 
Details of the person discharging           Volume(s) 
managerial responsibilities/person closely 
associated 
 
Bradley Gordon, Chief Executive Officer     Nil cost option over  464,624 
                                            shares 
 
Andrew Wray, Chief Financial Officer        Nil cost option over 231,089 
                                            shares 
 
Mark Morcombe, Chief Operating Officer      Nil cost option over 220,085 
                                            shares 
 
Peter Geleta, Head of People                Nil cost option over 195,163 
                                            shares 
 
Peter Spora, Head of Discovery              Nil cost option over 202,185 
                                            shares 
 
Charlie Ritchie, Head of Legal and          Nil cost option over 275,403 
Compliance                                  shares 
 
Deodatus Mwanyika, Vice President Corporate Nil cost option over  145,036 
Affairs                                     shares 
 
Enquiries: 
 
Acacia Mining Plc 
Laura Rich, Assistant Company Secretary and Corporate Counsel 
 
[e-mail] 
 
 
 
END 
 

(END) Dow Jones Newswires

May 12, 2017 02:00 ET (06:00 GMT)