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.