ACACIA MINING PLC - Director/PDMR Shareholding

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.