Issue of Shares under SIP and Directors' Dealings

RNS Number : 9182Y

Red Rock Resources plc

30 January 2014

 



Red Rock Resources Plc

("Red Rock" or the "Company")

Issue of Shares under Share Incentive Plan and Directors' Dealings

30 January 2014

Red Rock Resources Plc ("Red Rock" or the "Company"), the mining and exploration company with a producing gold mine in Colombia, an iron ore project in Greenland and gold exploration in Kenya, announces that, on 29 January 2014, the Board of Directors approved the issue of 11,368,404 ordinary shares of 0.1p each in the Company ("Ordinary Shares") under the Company's Share Incentive Plan ("SIP") Free Shares for the 2013/14 tax year as agreed by the Trustees on 23 January 2014.

Under the Free Share agreement, employees (including Directors), who have worked for the company for three months, may be awarded up to £3,000 worth of Ordinary Shares in the Company in any one tax year. Accordingly, 11,368,404 Free Shares have been awarded to 18 employees with reference to the closing mid-market price of 0.475p on 22 January 2014.

Free shares will be held by the SIP Trustees and they cannot be released to participants until five years after the date of allotment, except in specific circumstances.

Directors' Participation

The Directors' total holdings are set out below after participation in the SIP Free Shares in respect of the 2013/2014 tax year:

Director	Number of shares awarded on 29 January 2014	Ordinary Shares in the Company			% of Issued Share Capital Following the Grant
		Direct	Indirect*	Total
Andrew R M Bell	631,578	1,063,830	1,678,482	2,742,312	0.18%
James Ladner	631,578	0	2,314,747	2,314,747	0.15%
Michael C Nott	631,578	1,325,000	2,113,482	3,438,482	0.22%
John Watkins	631,578	1,250,000	3,538,482	4,788,482	0.31%

* Each Director indirectly holds 1,538,482 shares held by the Share Incentive Plan Trustees.

In addition, Andrew Bell holds 140,000 shares through Hartmann Capital Nominees Limited, Michael C Nott indirectly holds 575,000 shares through Anna Nott, John Watkins holds 2,000,000 shares through Diane Mary Watkins and James F Ladner holds 776,265 shares through an undisclosed nominee which are pledged as collateral for a loan.

Admission to trading on AIM and Total Voting Rights

Application is being made to AIM for 11,368,404 new Ordinary Shares allotted in relation to the SIP for 2013/14 tax year to be admitted to trading on AIM. Admission of the 11,368,404 new Ordinary Shares is expected on 5 February 2014.

Following the issue of the 11,368,404 new Ordinary Shares, the issued share capital of the Company consists of 1,568,846,744 ordinary shares of 0.1p each with voting rights. No Ordinary Shares are held in treasury.

The above figure of 1,568,846,744 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 FSA's Disclosure and Transparency Rules.

Enquiries:

Andrew Bell 020 7747 9960 or 07766 474849	Chairman Red Rock Resources Plc
Colin Aaronson/David Hignell 020 7383 5100	NOMAD Grant Thornton UK LLP
Nick Emerson 01483 413500 Guy Wheatley 020 7382 8416 Rupert Trefgarne 02031288817	Broker SI Capital Ltd Joint Broker Beaufort Securities Ltd Media Relations MHP Communications

 

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