ACACIA MINING PLC Allocation of nil-cost options under LTIP

 
TIDMACA 
 
1 March 2017 
 
                               Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
         Allocation of nil-cost options under Long-Term Incentive Plan 
 
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 2017 AGM. The vesting of each option award is 
subject to the assessment of the Company's TSR performance against the 
constituents of the EMIX (formerly 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 148.46 pence per Acacia share as of 26 
February 2018. All option awards were allocated as of 26 February 2018 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. 
 
For purposes of the information below, only Peter Geleta 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 
 
Peter Geleta, Interim Chief Executive   Nil cost option over 1,077,731 shares 
Officer 
 
Jaco Maritz, Chief Financial Officer    Nil cost option over  695,773 shares 
 
Charlie Ritchie, Head of Legal and      Nil cost option over  781,355 shares 
Compliance 
 
ENQUIRIES 
 
For further information, please visit our website: http://www.acaciamining.com/ 
or contact: 
 
Acacia Mining plc                      [phone] 
 
Giles Blackham, Investor Relations 
 
 
 
END 
 

(END) Dow Jones Newswires

March 01, 2018 02:00 ET (07:00 GMT)