RED ROCK RESOURCES PLC — Remuneration Information 2016

Jun 14, 2016

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RNS Number : 1691B

Red Rock Resources plc

14 June 2016

Red Rock Resources plc

("Red Rock" or the "Company")

Cancellation and Re-issue of Options

Directors' Shareholdings

14 June 2016

Red Rock Resources Plc ("Red Rock" or the "Company"), on 1 February 2016 announced the grant of 13,320,000 options to directors and key staff. The grants other than those to Michael Nott and Sam Quinn were made under an EMI (Enterprise Management Incentive) scheme ("EMI Grants"). 

For administrative reasons, it has become necessary to cancel and reissue the EMI options on the same terms and conditions (including exercise price), as described below.

The Company announces the immediate cancellation of the EMI Grants and the reissue with immediate effect of the same number of EMI options to the same grantees and upon the same conditions, with the designation "Series 1".

	Tranche 1	Tranche 2	Tranche 3	Tranche 4
Andrew Bell	1,440,000	1,440,000	1,440,000	1,440,000
Scott Kaintz	1,170,000	1,170,000	1,170,000	1,170,000
Other personnel	270,000	270,000	270,000	270,000
Vesting date:	Immediate	29 June 2016	29 January 2017	29 June 2017
Performance condition:	N/A	Share price close 3 days over 0.75p	Share price close 3 days over 1.5p	Share price close 3 days over 2p

All options have an exercise price of 0.45p and will lapse on 29 January 2022.

The vesting in respect of tranches not yet vested will be accelerated, though the performance condition will be retained, in the event of a takeover event.

Following the cancellation and reissue, the resultant total directors' shareholdings are as follows:

Directors	Ordinary Shares		Total Shares	% of Issued Share Capital	Options	Warrants
	Direct	Indirect
Andrew R M Bell	7,706,077	4,148,914	11,854,991	3.02%	5,760,000	5,867,167
Michael C Nott	842,105	3,394,182	4,236,287	1.08%	900,000	421,052
Scott Kaintz	0	4,598,194	4,598,194	1.17%	4,680,000	1,785,714
Sam Quinn	0	3,116,766	3,116,766	0.79%	900,000	1,996,240

* Andrew Bell and Scott Kaintz both hold 2,812,480 shares, Mike Nott holds 2,764,480 shares and Sam Quinn holds 910,000 shares indirectly held by the Share Incentive Plan Trustees.  In addition, Andrew Bell indirectly holds 5,600 shares through Beaufort Securities Nominees Limited and 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.

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

Jason Robertson 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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