Performance options and directors' shareholdings

RNS Number : 8843W

Red Rock Resources plc

24 August 2020

 

Red Rock Resources Plc

Performance Option Award

Directors' Shareholdings

24 August 2020

Red Rock Resources Plc ("Red Rock" or the "Company"), the natural resource development Company, announces the grant of 21,000,000 performance options to directors and key staff representing in aggregate 3.01% of the existing issued share capital of the Company. Each option entitles the holder upon exercise to one ordinary share of 0.01p in the capital of the Company ("Ordinary Shares").

Pursuant to the recommendation of the Remuneration Committee, the board has awarded the following options:

	Tranche 1	Tranche 2
Andrew Bell	5,500,000	5,500,000
Michael C Nott	1,500,000	1,500,000
Scott Kaintz	2,250,000	2,250,000
Other personnel	1,250,000	1,250,000
Vesting date:	On issue	On issue
Exercise price:	2p	2.5p
Expiry date:	19.08.2025	19.08.2025

The closing mid-market price on AIM as at the close of business on Wednesday, 19 August 2020 was 0.77p.

A pool of 6m options has been created for distribution at the Board's discretion to key consultants and advisors.

Following the grant of options to directors, the resultant total directors' shareholdings are as follows:

Directors	Ordinary Shares		Total Shares	% of Issued Share Capital	Options
	Direct	Indirect*
Andrew Bell	31,238,520	11,552,617	42,791,137	6.14	28,760,000
Michael C Nott	1,471,807	11,235,652	12,707,459	1.82%	3,900,000
Scott Kaintz	2,517,807	11,552,617	14,070,424	2.02%	20,180,000

*these shares are being held indirectly via Red Rock Resources PLC Share Incentive Plan Trustees

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

Mark Treharne 0203 700 2500                                                    Broker Pello Capital Ltd

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. Michael C Nott 3. Scott Kaintz
2	Reason for the notification
a)	Position/status	1. Chairman 2. Director 3. Director
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 £0.0001 each
	Identification code	ISIN: GB00BYWKBV38
b)	Nature of the transaction	Issue of Performance Options to buy Shares of 0.01p
c)	Price(s) and volume(s)		Name Price(s) Volume(s) Andrew R M Bell £0.02 £0.025 5,500,000 5,500,000 Michael C Nott £0.02 £0.025 1,500,000 1,500,000 Scott Kaintz £0.02 £0.025 2,250,000 2,250,000
d)	Aggregated information	NA (single transaction for each PDMR)
	- Aggregated volume	NA
	- Price	NA
e)	Date of the transaction	20 August 2020
f)	Place of the transaction	Outside a trading venue

 

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