ACACIA MINING PLC Director/PDMR Shareholding
February 28 2019 - 1:00AM
UK Regulatory
TIDMACA
28 February 2019
Acacia Mining plc
LSE:ACA
("Acacia" or the "Company")
Director / PDMR Shareholding
Grant of nil-cost options under Long Term Incentive Plan
The Company notifies the grant of nil-cost options ("options") over ordinary
shares in the capital of the Company to members of its executive leadership
team, which took place on 26 February 2019 pursuant to the rules of its Long
Term Incentive Plan ("LTIP").
The vesting of the shares subject to each option is conditional upon the
assessment of the Company's TSR performance against the constituents of the
EMIX (formerly Euromoney Global Gold Index) over a five year performance
period. No shares 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 shares to vest.
The allocation value of each option was determined in accordance with the rules
of the LTIP and by reference to the average middle market quotation of an
Acacia share over the five days prior to the date of grant, equal to 244.02
pence per Acacia share. The place of the transaction for all the options was
outside trading venue. The issuer for all the options is Acacia Mining plc and
the relevant identification code is GB00B61D2N63.
For the 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, Chief Executive Officer Nil-cost option over 696,664 shares
Jaco Maritz, Chief Financial Officer Nil-cost option over 401,596 shares
Charlie Ritchie, Head of Legal and Compliance Nil-cost option over 494,386
shares
ENQUIRIES
For further information, please visit our website: www.acaciamining.com or
contact:
Acacia Mining plc +44 (0) 20 7129 7150
Sally Marshak, Head of Investor Relations and Communications
Camarco +44 (0) 20 3757 4980
Gordon Poole / Nick Hennis
About ACACIA
Acacia Mining plc (LSE:ACA) is the UK holding company of the Acacia Group,
Tanzania's largest gold miner and one of the largest producers of gold in
Africa. The Acacia Group has three mines, all located in north-west Tanzania:
Bulyanhulu, which is owned and operated by Bulyanhulu Gold Mine Limited,
Buzwagi, which is owned and operated by Pangea Minerals Limited and North Mara,
which is owned and operated by North Mara Gold Mine Limited. The Acacia Group
also has a portfolio of exploration projects in Kenya, Burkina Faso and Mali.
Acacia Mining plc is a UK public company headquartered in London. It is listed
on the Main Market of the London Stock Exchange with a secondary listing on the
Dar es Salaam Stock Exchange. Barrick Gold Corporation is the majority
shareholder of Acacia Mining plc.
Disclaimer and forward-looking statements
This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of Acacia in any jurisdiction. This announcement
includes "forward-looking statements" that express or imply expectations of
future events or results as opposed to historical facts. These statements
include, financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to future
production, operations, costs, projects, and statements regarding future
performance. Forward-looking statements are generally identified by the words
"plans," "expects," "anticipates," "believes," "intends," "estimates" and other
similar expressions. All forward-looking statements involve a number of risks,
uncertainties and other factors, many of which are beyond the control of
Acacia, which could cause actual results and developments to differ materially
from those expressed in, or implied by, the forward-looking statements
contained herein. Factors that could cause or contribute to differences between
the actual results, performance and achievements of Acacia include, but are not
limited to, changes or developments in political, economic or business
conditions or national or local legislation or regulation in countries in which
Acacia conducts - or may in the future conduct - business, industry trends,
competition, fluctuations in the spot and forward price of gold or certain
other commodity prices (such as copper and diesel), currency fluctuations
(including the US dollar, South African rand, Kenyan shilling and Tanzanian
shilling exchange rates), Acacia's ability to successfully integrate
acquisitions, Acacia's ability to recover its reserves or develop new reserves,
including its ability to convert its resources into reserves and its mineral
potential into resources or reserves, and to process its mineral reserves
successfully and in a timely manner, Acacia's ability to complete land
acquisitions required to support its mining activities, operational or
technical difficulties which may occur in the context of mining activities,
delays and technical challenges associated with the completion of projects,
risk of trespass, theft and vandalism, changes in Acacia's business strategy
and ongoing implementation of operational reviews, as well as risks and hazards
associated with the business of mineral exploration, development, mining and
production and risks and factors affecting the gold mining industry in general.
Although Acacia's management believes that the expectations reflected in such
forward-looking statements are reasonable, Acacia cannot give assurances that
such statements will prove to be correct. Accordingly, investors should not
place reliance on forward-looking statements contained in this announcement.
Any forward-looking statements in this announcement only reflect information
available at the time of preparation. Save as required under the Market Abuse
Regulation or otherwise as may be required under applicable law, Acacia
explicitly disclaims any obligation or undertaking publicly to update or revise
any forward-looking statements in this announcement, whether as a result of new
information, future events or otherwise. Nothing in this announcement should be
construed as a profit forecast or estimate and no statement made should be
interpreted to mean that Acacia's profits or earnings per share for any future
period will necessarily match or exceed its historical published profits or
earnings per share.
END
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