RED ROCK RESOURCES PLC — Remuneration Information 2019

Apr 9, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

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 £3,600 worth of Ordinary Shares in the Company in any one tax year. Ordinary Shares to the value of £3,600 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 £1,800 (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 Shares	Ordinary Shares Post Issuance		Total Shares	% of Enlarged Issued Share Capital	Options	Warrants
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 /Amendment

Initial Notification

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 financial instrument, type of instrument

Ordinary Shares of 0.01p each

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