TIDMRRR
RNS Number : 6167V
Red Rock Resources plc
09 April 2019
Red Rock Resources Plc
("Red Rock" or the "Company")
Issue of Shares under Share Incentive Plan and Directors'
Dealings
9 April 2019
Red Rock Resources Plc, the natural resource investment and
development company, announces that on 2 April 2019 the Board of
Directors approved the issuance of 6,556,800 ordinary shares in the
Company ("Ordinary Shares") under the Company's Share Incentive
Plan ("SIP") for the 2018/19 tax year as agreed in the Trustees
meeting held on 1 April 2019.
Under the terms of the SIP, once employees have satisfactorily
completed their probationary period, they may sign up to both the
Free Share Agreement and Partnership Share Agreement, however, they
may only begin active participation in the Partnership Agreement at
the beginning of the tax year.
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 2018/19 tax year,
representing a total of 3,000,000 Ordinary Shares, with reference
to the mid-market closing price of 0.60p as of 29 March 2019.
Partnership Share Agreement - Share Award
In addition, employees may purchase up to GBP1,800 (or up to a
maximum of 10% of their salary, whichever is the lower) worth of
Shares (the "Partnership Shares") in any one tax year. The Company
will match these shares on a 2:1 basis (the "Matching Shares"). The
Partnership and the Matching Shares are awarded with reference to
the lower of the mid-market closing price at the beginning or at
the end of the accumulation period.
Therefore, 1,185,600 Partnership Shares and 2,371,200 Matching
Shares (being 3,556,800 Shares in aggregate) have been awarded with
reference to the mid-market closing price of 0.60p on 29 March
2019, which is the end of the accumulation period for the 2018/19
tax year.
The Directors have participated in the Partnership Share award
and the above numbers include such participation, further details
of which are set out below.
All shares awarded under the Partnership 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 2018/19 tax year, all Directors were eligible
to participate in the Free, Partnership and Matching Share schemes.
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:
Directors New Ordinary Ordinary Shares Total % of Options Warrants
Shares Post Issuance Shares Enlarged
Issued
Share
Capital
Andrew R M
Bell 1,500,000 31,792,511 7,828,480 39,620,991 6.47% 17,760,000 7,886,904
Michael C
Nott 1,464,000 1,471,807 7,660,480 9,132,287 1.49% 900,000 0
Scott Kaintz 1,500,000 2,517,807 7,828,480 10,346,287 1.69% 15,680,000 1,785,714
Sam Quinn 1,492,800 2,206,766 5,911,600 8,118,366 1.33% 3,900,000 1,785,714
-------------- ------------- ----------- ---------- ----------- ---------- ----------- ----------
Admission to trading on AIM and Total Voting Rights
Application is being made to AIM for 6,556,800 new Ordinary
Shares allotted in relation to the SIP for 2018/19 tax year to be
admitted to trading on AIM. Admission of the 6,556,800 new Ordinary
Shares is expected on or around 12 April 2019.
Following the issue of the 6,556,800 new Ordinary Shares the
issued share capital of the Company consists of 612,569,271
ordinary shares of 0.01p each with voting rights. No Ordinary
Shares are held in Treasury.
The above figure of 612,569,271 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 0207 374 2212 Broker First Equity Limited
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. Sam Quinn
3. Michael C Nott
4. Scott Kaintz
5. Rasa Vaitkute
--------------------------- ---------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status 1. Executive Chairman
2. Non-Executive Director
3. Non-Executive Director
4. 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 the Ordinary Shares of 0.01p each
financial instrument,
type of instrument
Identification code ISIN: GB00BYWKBV38
b) Nature of the transaction Issue of Shares under Share Incentive Plan
--------------------------- ---------------------------------------------
c) Price(s) and volume(s) Name Price(s) Volume(s)
Andrew R M Bell 0.60p 1,500,000
--------- ----------
Sam Quinn 0.60p 1,492,800
--------- ----------
Michael C Nott 0.60p 1,464,000
--------- ----------
Scott Kaintz 0.60p 1,500,000
--------- ----------
Rasa Vaitkute 0.60p 600,000
--------- ----------
-------------------------------------------
d) Aggregated information
- Aggregated volume 6,556,800
- Price 0.60 pence
e) Date of the transaction 2 April 2019
--------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------- ---------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHILMLTMBMMMRL
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April 09, 2019 05:16 ET (09:16 GMT)
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