Acacia Mining
plc
LSE:ACA
(“Acacia” or the
“Company”)
Allocation of
nil-cost options under Long-Term Incentive Plan
Further to the resolutions passed at the 2017 Annual General
Meeting (“AGM”), 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 AGM.
The vesting of each option award is subject to the assessment of
the Company’s TSR performance against the constituents of the
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 421.2 pence per Acacia share as of 26 April 2017, given that the relevant AGM
resolutions were passed by shareholders on 20 April. All
option awards were allocated as of 26 April
2017 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.
Further information as regards the rationale for making the
relevant changes to the Acacia Remuneration Policy and LTIP rules
and the relevant TSR performance assessment are provided as part of
the Remuneration Report comprised within the 2016 Annual Report and
Accounts and the Explanatory Notes provided with the 2017 AGM
Notice. Both are available on the Acacia website:
www.acaciamining.com
For purposes of the information below, only Brad Gordon 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) |
Bradley Gordon, Chief Executive
Officer |
Nil cost option over 464,624
shares |
Andrew Wray, Chief Financial
Officer |
Nil cost option over 231,089
shares |
Mark Morcombe, Chief Operating
Officer |
Nil cost option over 220,085
shares |
Peter Geleta, Head of
People |
Nil cost option over 195,163
shares |
Peter Spora, Head of Discovery |
Nil cost option over 202,185
shares |
Charlie Ritchie, Head of Legal and
Compliance |
Nil cost option over 275,403
shares |
Deodatus Mwanyika, Vice President
Corporate Affairs |
Nil cost option over 145,036
shares |
Enquiries:
Acacia Mining Plc
Laura Rich, Assistant Company
Secretary and Corporate Counsel
Lrich@acaciamining.com