Red Rock Resources plc Jupiter Mines Buy-Back Update (0296S)

TIDMRRR

RNS Number : 0296S

Red Rock Resources plc

28 September 2017

Red Rock Resources plc

("Red Rock " or the "Company")

Jupiter Mines Buy-Back Update

28 September 2017

Further to the announcements of 31 July 2017 and 11 September 2017, Red Rock notes that Jupiter Mines Ltd ("Jupiter"), an Australian unlisted public company, has announced a further update regarding its planned US$25m distribution to its shareholders.

Highlights:

o Distribution will be by means of an equal access share buyback to return US$25m (approximately AU$31.3m) to Jupiter shareholders ("Buy-Back")

o All Jupiter shareholders to be made an equal offer to Buy-Back 4% of their shares at a price of US$0.29 (AU$0.36) per share

o Updated Buy-Back schedule provided below

 
 Event                                Date 
                                      Wednesday, 27 September 
 Booklet lodged with ASIC              2017 
 Record Date of Buy-Back              Thursday, 28 September 
  Offer (2.00pm WST)                   2017 
                                      Tuesday, 3 October 
 Booklet dispatched to Shareholders    2017 
                                      Tuesday, 3 October 
 Opening date (9.00am WST)             2017 
                                      Tuesday, 7 November 
 Closing date (2.00pm WST)             2017 
                                      Monday, 4 December 
 Acceptances processed                 2017 
                                      Tuesday, 5 December 
 Cancellation of Shares                2017 
 Dispatch of confirmation             Tuesday, 5 December 
  letters                              2017 
 Dispatch of payment to Buy-Back      Tuesday, 5 December 
  participants                         2017 
 

The full Jupiter announcement may be read on its website www.jupitermines.com.

Red Rock Chairman Andrew Bell states: "Further details on the upcoming share buyback have been released by Jupiter including now more definitive timetables. This buyback is expected to bring nearly $300,000 into Red Rock and will push the totals for the year to nearly $1m.

Our investment in manganese production in South Africa continues to form a meaningful part of our financing mix and we look forward to more news from Jupiter regarding developments at Tshipi and the strategic options currently under consideration. "

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

For further information, please contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 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

This information is provided by RNS

The company news service from the London Stock Exchange

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September 28, 2017 02:01 ET (06:01 GMT)