Red Rock Resources plc Issue of Shares under Share Incentive Plan (0002T)

TIDMRRR

RNS Number : 0002T

Red Rock Resources plc

09 October 2017

Red Rock Resources Plc

("Red Rock" or the "Company")

Issue of Shares under Share Incentive Plan and Directors' Dealings

9 October 2017

Red Rock Resources Plc, the natural resource investment and development company, announces that on 6 October 2017 the Board of Directors approved the issuance of 2,880,000 ordinary shares in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") for the 2017/18 tax year as agreed in the Trustees meeting held on 6 October 2017.

Under the terms of the SIP, once employees have satisfactorily completed their probationary period, they may sign up to the Free Share Agreement.

Free Share Agreement - Free Share Award

Under the Free Share Agreement, employees may be awarded up to GBP3,600 worth of Ordinary Shares in the Company in any one tax year. Ordinary Shares to the value of GBP3,600 per existing employee have been awarded in respect of the 2017/18 tax year, representing a total of 2,880,000 Ordinary Shares, with reference to the mid-market closing price of 0.625p as of 5 October 2017.

All shares awarded under the Free Share Agreement will be held by the SIP Trustees and such shares cannot be released to participants until five years after the date of the award, except in specific circumstances.

Directors' Participation

In respect of the 2017/2018 tax year, each Director has been awarded 576,000 Ordinary Shares under the Free Share Agreement. These shares awarded to Directors have been included in the table below, which sets out the total shareholding and interests of the directors in the enlarged share capital of the Company:

 
                                  Ordinary Shares        Total        % of       Options     Warrants 
                                   Post Issuance         Shares      Enlarged 
                                                                      Issued 
                                                                      Share 
                                                                     Capital 
-------------  -------------  ----------------------  -----------  ----------  -----------  ---------- 
                New Ordinary   Direct      Indirect* 
  Directors        Shares 
-------------  -------------  ----------  ----------  -----------  ----------  -----------  ---------- 
 Andrew 
  R M Bell           576,000   7,194,984   7,276,007   14,470,991       3.02%   17,760,000   4,761,904 
-------------  -------------  ----------  ----------  -----------  ----------  -----------  ---------- 
 Michael 
  C Nott             576,000           -   6,804,287    6,804,287       1.42%      900,000           - 
-------------  -------------  ----------  ----------  -----------  ----------  -----------  ---------- 
 Scott C 
  Kaintz             576,000           -   7,214,194    7,214,194       1.51%   15,680,000   1,785,714 
-------------  -------------  ----------  ----------  -----------  ----------  -----------  ---------- 
 Sam D Quinn         576,000           -   5,732,766    5,732,766       1.20%    3,900,000   1,785,714 
-------------  -------------  ----------  ----------  -----------  ----------  -----------  ---------- 
 

* Post issuance, Andrew Bell and Scott Kaintz both hold 5,428,480 shares, Mike Nott holds 5,332,480 shares and Sam Quinn holds 3,526,000 shares indirectly held by the Share Incentive Plan Trustees. In addition, Andrew Bell indirectly holds 5,600 shares through Beaufort Securities Nominees Limited and 1,330,834 shares in the account of Alliance Trust Nominees Limited and 511,093 shares in the account of Rock (Nominees) Limited and 2,210,526 shares directly and jointly with Stephanie Bell. Michael Nott indirectly holds 1,471,807 shares jointly with Anna Nott through Barclayshare Nominees Limited. Scott Kaintz indirectly holds 1,785,714 shares through HSBC Client Holdings Nominee UK Limited. Sam Quinn indirectly holds 2,206,766 shares through Fitel Nominees Limited/WH Ireland.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 2,880,000 new Ordinary Shares allotted in relation to the SIP for 2017/18 tax year to be admitted to trading on AIM. Admission of the 2,880,000 new Ordinary Shares is expected on or around 13 October 2017.

Following the issue of the 2,880,000 new Ordinary Shares, the issued share capital of the Company consists of 478,917,740 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 478,917,740 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.

For Further Information Contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 Executive Director Red Rock Resources Plc

   Roland Cornish/Rosalind Hill Abrahams 0207 628 3396         NOMAD Beaumont Cornish Limited 

Neil Badger 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  ----------------------------------------------------------------------- 
 a)    Name                        1. Andrew R M Bell 
                                    2. Michael C Nott 
                                    3. Scott C Kaintz 
                                    4. Sam D Quinn 
                                    5. Rasa Vaitkute 
----  --------------------------  ------------------------------------------- 
 2     Reason for the notification 
----  ----------------------------------------------------------------------- 
 a)    Position/status             1. Executive Chairman 
                                    2. Non-Executive Director 
                                    3. Executive Director 
                                    4. Non-Executive Director 
                                    5. Corporate Affairs Manager 
----  --------------------------  ------------------------------------------- 
 b)    Initial notification        Initial Notification 
        /Amendment 
----  --------------------------  ------------------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or 
        auction monitor 
----  ----------------------------------------------------------------------- 
 a)    Name                        Red Rock Resources Plc 
----  --------------------------  ------------------------------------------- 
 b)    LEI                         213800383CFWX3U42W09 
----  --------------------------  ------------------------------------------- 
 4     Details of the transaction(s): section to be 
        repeated for (i) each type of instrument; (ii) 
        each type of transaction; (iii) each date; and 
        (iv) each place where transactions have been 
        conducted 
----  ----------------------------------------------------------------------- 
 a)    Description of              Ordinary Shares of 0.01p each 
        the financial 
        instrument, type 
        of instrument 
---- 
 
       Identification              ISIN: GB00BYWKBV38 
        code 
 
 b)    Nature of the               Issue of Shares under Share Incentive 
        transaction                 Plan 
----  --------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s)       Name              Price(s)   Volume(s) 
                                    ----------------  ---------  ---------- 
                                     Andrew R M 
                                      Bell             0.625p     576,000 
                                    ----------------  ---------  ---------- 
                                     Michael C 
                                      Nott             0.625p     576,000 
                                    ----------------  ---------  ---------- 
                                     Scott C Kaintz    0.625p     576,000 
                                    ----------------  ---------  ---------- 
                                     Sam D Quinn       0.625p     576,000 
                                    ----------------  ---------  ---------- 
                                     Rasa Vaitkute     0.625p     576,000 
                                    ----------------  ---------  ---------- 
----                              ----------------------------------------- 
 
 d)    Aggregated information 
---- 
 
  - Aggregated volume              2,880,000 
 
  - Price                          0.625 pence 
 
 e)    Date of the transaction     6 October 2017 
----  --------------------------  ------------------------------------------- 
 f)    Place of the transaction    Outside a trading venue 
----  --------------------------  ------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 09, 2017 02:00 ET (06:00 GMT)