Jupiter Mines Buy-Back Update

RNS Number : 0296S

Red Rock Resources plc

28 September 2017

 

Red Rock Resources plc

("Red Rock " or the "Company")

Jupiter Mines Buy-Back Update

28 September 2017

Further to the announcements of 31 July 2017 and 11 September 2017, Red Rock notes that Jupiter Mines Ltd ("Jupiter"), an Australian unlisted public company, has announced a further update regarding its planned US$25m distribution to its shareholders.

Highlights:

o  Distribution will be by means of an equal access share buyback to return US$25m (approximately AU$31.3m) to Jupiter shareholders ("Buy-Back")

o  All Jupiter shareholders to be made an equal offer to Buy-Back 4% of their shares at a price of US$0.29 (AU$0.36) per share

o  Updated Buy-Back schedule provided below

Event	Date
Booklet lodged with ASIC	Wednesday, 27 September 2017
Record Date of Buy-Back Offer (2.00pm WST)	Thursday, 28 September 2017
Booklet dispatched to Shareholders	Tuesday, 3 October 2017
Opening date (9.00am WST)	Tuesday, 3 October 2017
Closing date (2.00pm WST)	Tuesday, 7 November 2017
Acceptances processed	Monday, 4 December 2017
Cancellation of Shares	Tuesday, 5 December 2017
Dispatch of confirmation letters	Tuesday, 5 December 2017
Dispatch of payment to Buy-Back participants	Tuesday, 5 December 2017

The full Jupiter announcement may be read on its website www.jupitermines.com.

Red Rock Chairman Andrew Bell states: "Further details on the upcoming share buyback have been released by Jupiter including now more definitive timetables.  This buyback is expected to bring nearly $300,000 into Red Rock and will push the totals for the year to nearly $1m.

Our investment in manganese production in South Africa continues to form a meaningful part of our financing mix and we look forward to more news from Jupiter regarding developments at Tshipi and the strategic options currently under consideration. "

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

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

Neil Badger 0129 351 7744                                                               Broker Dowgate Capital Stockbrokers Ltd

 

END

 

 

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