ACACIA MINING PLC - Allocation of nil-cost options under LTIP
March 01 2018 - 1:00AM
PR Newswire (US)
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
managerial responsibilities/person closely associated |
Volume(s) |
Peter Geleta, Interim Chief
Executive Officer |
Nil cost option over 1,077,731
shares |
Jaco Maritz, Chief Financial
Officer |
Nil cost option over 695,773
shares |
Charlie Ritchie, Head of Legal and
Compliance |
Nil cost option over 781,355
shares |
ENQUIRIES
For further information, please visit our website:
http://www.acaciamining.com/ or contact:
Acacia Mining plc |
+44 (0) 20 7129 7150 |
Giles Blackham, Investor
Relations
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