Red Rock Resources Plc
Issue of Shares under Share Incentive Plan and Directors' Dealings
22 January 2016
Red Rock Resources Plc ("Red Rock" or the "Company"), the natural resource investment and development company, announces that on 21 January 2016 the Board of Directors approved the issuance of 3,750,000 ordinary shares in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") for the 2015/16 tax year as agreed in the Trustees meeting held on 20 January 2016.
Under the terms of the SIP, once employees have worked for the Company for three months, they qualify for the Free Share Agreement.
Free Share Agreement - Free Share Award
Under the Free Share Agreement, employees may be awarded up to £3,600 worth of Ordinary Shares in the Company in any one tax year. Ordinary Shares to the value of £3,000 per existing employee have been awarded in respect of the 2015/16 tax year, representing a total of 3,750,000 Ordinary Shares, with reference to the mid-market closing price of 0.40p on 20 January 2016.
The Directors have participated in this award and the above number includes such participation, further details of which are set out below.
All such shares will be held by the SIP Trustees and the Ordinary 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 2015/2016 tax year, each Director, has been awarded 750,000 Ordinary Shares. These Shares awarded to Directors have been included in the calculations above.
As a result of such participation, the Directors' new shareholdings in the Company are set out in the table below:
Directors | New Ordinary Shares | Ordinary Shares in the Company Post Issuance | Total Shares | % of Issued Share Capital | Warrants | |
| |
| | Direct | Indirect* | | | | |
Andrew R M Bell | 750,000 | 2,944,173 | 1,218,080 | 4,162,253 | 1.70% | 1,105,263 | |
Sam Quinn | 750,000 | - | 1,171,052 | 1,171,052 | 0.48% | 210,526 | |
Michael C Nott | 750,000 | 842,105 | 1,842,182 | 2,684,287 | 1.10% | 421,052 | |
Scott Kaintz | 750,000 | - | 1,212,480 | 1,212,480 | 0.49% | - | |
* Post issuance, each Director except for Sam Quinn indirectly holds 1,212,480 shares held by the Share Incentive Plan Trustees. In addition, Andrew Bell indirectly holds 5,600 shares through Beaufort Securities Nominees Limited and 2,210,526 shares directly and jointly with Stephanie Bell. Michael Nott, directly and jointly with Anna Nott, holds 842,105 shares and Michael Nott indirectly holds 629,702 shares jointly with Anna Nott through Barclayshare Nominees Limited. Sam Quinn indirectly holds 421,052 shares through Fitel Nominees Limited/WH Ireland.
Admission to trading on AIM and Total Voting Rights
Application is being made to AIM for 3,750,000 new Ordinary Shares allotted in relation to the SIP for 2015/16 tax year to be admitted to trading on AIM. Admission of the 3,750,000 new Ordinary Shares is expected on or around 28 January 2016.
Following the issue of the 3,750,000 new Ordinary Shares the issued share capital of the Company consists of 245,104,445 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.
The above figure of 245,104,445 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
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.
Christian Pickel 0203 128 8208 Media Relations MHP Communications
