NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO
MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER
WILL BE MADE
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
19 June 2019
Acacia Mining
plc
LSE:ACA
STATEMENT
REGARDING ANNOUNCEMENT FROM BARRICK
Acacia Mining plc (“Acacia” or “the Company”) notes the
announcement from Barrick Gold Corporation (“Barrick”) yesterday
regarding their views on the situation in Tanzania and Acacia’s mine plans (“the
Announcement”).
The Company strongly disagrees with a number of statements made
in the Announcement. The Company is also surprised with the
circumstances and timing of the Announcement, which immediately
followed earlier announcements regarding Acacia’s agreement to
Barrick’s request for an extension to the PUSU Deadline. The
Company will provide a detailed response to the relevant aspects of
the announcement, as appropriate, in due course.
Shareholders are strongly urged to take no action at this
time.
In accordance with Rule 2.6(a) of the Code, Barrick is required,
by not later than 5.00pm on
9 July 2019, either to announce a
firm intention to make an offer in accordance with Rule 2.7 of the
Code or to announce that they do not intend to make an offer, in
which case the announcement will be treated as a statement to which
Rule 2.8 of the Code applies. This deadline may be extended with
the consent of the Takeover Panel in accordance with Rule 2.6(c) of
the Code.
Terms not defined herein have the meaning as set out in the
Company’s announcement dated 18 June
2019.
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
+44 (0) 752 580 7953
Camarco
+44 (0) 20 3757 4980
Gordon Poole / Nick Hennis
J.P. Morgan Cazenove (Joint Lead Financial Adviser and
Broker):
+44 (0) 20 7742 4000
Barry Weir
James Robinson
Dimitri Reading-Picopoulos
RBC Capital Markets (Joint Lead Financial Adviser and
Broker):
+44 (0) 20 7653 4000
Kevin Smith
Paul Betts
Vicky Liu
Lazard & Co., Limited (Financial Adviser to the
Transaction Committee of Acacia Mining plc):
Spiro Youakim
+44 (0) 20 7187 2000
William Lawes
Gustavo Plenge
Further Information:
J.P. Morgan Limited, which conducts its UK investment banking
business as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is
authorised and regulated in the United
Kingdom by the Financial Conduct Authority. J.P. Morgan
Cazenove is acting as financial adviser exclusively for Acacia and
no one else in connection with the matters set out in this
announcement and will not regard any other person as its client in
relation to the matters in this announcement and will not be
responsible to anyone other than Acacia for providing the
protections afforded to clients of J.P. Morgan Cazenove, nor for
providing advice in relation to any matter referred to herein.
RBC Europe Limited (trading as RBC Capital Markets), which is
authorised by the Prudential Regulation Authority and regulated by
the Financial Conduct Authority and the Prudential Regulation
Authority in the United Kingdom,
is acting for Acacia and no one else in connection with the matters
referred to in this announcement and will not be responsible to
anyone other than Acacia for providing the protections afforded to
clients of RBC Capital Markets, or for providing advice in
connection with the matters referred to in this announcement.
Lazard & Co., Limited (“Lazard”), which is authorised and
regulated in the United Kingdom by
the Financial Conduct Authority, is acting exclusively for the
Transaction Committee of Acacia Mining plc and for no one else in
connection with the matters set out in this announcement and will
not be responsible to anyone other than the Transaction Committee
of Acacia Mining plc for providing the protections afforded to
clients of Lazard nor for providing advice in relation to the
matters referred to in this announcement. Neither Lazard nor any of
its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of Lazard in connection with this announcement, any
statement contained herein or otherwise.
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.