1 Mar 2018 07:00
ACACIA MINING PLC - Allocation of nil-cost options under LTIPACACIA MINING PLC - Allocation of nil-cost options under LTIP
PR Newswire
London, February 28
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