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.

Enquiries:

Acacia Mining Plc
Laura Rich, Assistant Company Secretary and Corporate Counsel

Lrich@acaciamining.com