Red Rock Resources Plc
("Red Rock" or the "Company")
Issue of Shares under Share Incentive Plan
Directors' Dealings and Total Voting Rights
22 April 2024
Red Rock Resources Plc, the natural resource exploration and development company, with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia, announces that on 18 April 2024, the Board of Directors approved the issuance of 80,928,000 ordinary shares of £0.0001 each in the Company ("New Ordinary Shares") under the Company's Share Incentive Plan ("SIP") for the 2023/24 tax year as agreed by the Trustees in their meeting held on 2 April 2024.
Under the SIP, all eligible employees may elect to have monthly deductions made from salary and held by the SIP Trustees until the tax year ends. The price used for share issuance was the mid-market closing price of £0.0006 as at 28th March 2024. 14,976,000 Partnership Shares and 29,052,000 Matching Shares and 36,000,000 Free Shares were issued.
Directors' Participation
Directors participated in the shares purchase and award of 44,928,000 of the New Ordinary Shares under the SIP in respect of the 2023/24 tax year, the details of which 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 | ||
|
|
| Direct | Indirect* |
|
|
|
| |
| Andrew R M Bell | 15,000,000 | 34,316,883 | 37,031,503 | 71,348,386 | 1.72% | 25,880,000 | - | |
| Alexander Borrelli | 15,000,000 | - | 20,364,429 | 20,364,429 | 0.49% | - | - | |
| Sam Quinn | 14,928,000 | 2,656,766 | 34,954,225 | 37,610,991 | 0.91% | 3,450,000 | - | |
* These shares are held on Director's behalf by Red Rock Resources Plc Share Incentive Plan Trustees.
Admission to Trading on AIM and Total Voting Rights
Application is being made to AIM for 80,928,000 New Ordinary Shares, allotted in relation to the SIP for 2023/24 tax year, to be admitted to trading on AIM, the admission of which it is expected on or around 25 April 2024.
Following admission of the Shares, the Company's total issued share capital will consist of 4,138,978,811 ordinary shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company will be 4,138,978,811 ordinary shares. This figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
Background: the SIP is a Government-created scheme to encourage wider share ownership and employee participation. The Company has a longstanding policy of utilising this scheme as a tax-efficient component of staff remuneration that encourages staff retention as the tax benefits are normally only available five years after grant. No other benefits are offered by the Company.
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Bob Roberts 0203 8696081 Joint Broker Clear Capital Corporate Broking
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed in accordance with the Company's obligations under Article 17.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
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1
| Details of the person discharging managerial responsibilities / person closely associated
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| a)
| Name
| Andrew Bell | ||||||||
| 2
| Reason for the notification
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| a)
| Position/status
| Executive Chairman, PDMR
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| 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 Shares under Share Incentive Plan | ||||||||
| c)
| Price(s) and volume(s) | |
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| | | | ||||||||
| d)
| Aggregated information | | ||||||||
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| - Aggregated volume | N/A | |||||||||
| | | |||||||||
| - Aggregated Price
| N/A | |||||||||
| | | |||||||||
| e)
| Date of the transaction
| 18 April 2024 | ||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||
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1
| Details of the person discharging managerial responsibilities / person closely associated
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| a)
| Name
| Alexander Borrelli | ||||||||
| 2
| Reason for the notification
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| a)
| Position/status
| Non-Executive Director, PDMR
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| 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 Shares under Share Incentive Plan | ||||||||
| c)
| Price(s) and volume(s) | |
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| | | | ||||||||
| d)
| Aggregated information | | ||||||||
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| - Aggregated volume | N/A | |||||||||
| | | |||||||||
| - Aggregated Price
| N/A | |||||||||
| | | |||||||||
| e)
| Date of the transaction
| 18 April 2024 | ||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||
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1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
| a)
| Name
| Sam Quinn | ||||||||
| 2
| Reason for the notification
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| a)
| Position/status
| Non-Executive Director, PDMR
| ||||||||
| 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 Shares under Share Incentive Plan | ||||||||
| c)
| Price(s) and volume(s) | |
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| | | | ||||||||
| d)
| Aggregated information | | ||||||||
| | | |||||||||
| - Aggregated volume | N/A | |||||||||
| | | |||||||||
| - Aggregated Price
| N/A
| |||||||||
| | | |||||||||
| e)
| Date of the transaction
| 18 April 2024 | ||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||
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1
| Details of the person discharging managerial responsibilities / person closely associated
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| a)
| Name
| Scott Kaintz | ||||||||
| 2
| Reason for the notification
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| a)
| Position/status
| CFO, PDMR
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| 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 Shares under Share Incentive Plan | ||||||||
| c)
| Price(s) and volume(s) | |
| | ||||||
| | | | ||||||||
| d)
| Aggregated information | | ||||||||
| | | |||||||||
| - Aggregated volume | N/A | |||||||||
| | | |||||||||
| - Aggregated Price
| N/A
| |||||||||
| | | |||||||||
| e)
| Date of the transaction
| 18 April 2024 | ||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||
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1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
| a)
| Name
| Rasa Vaitkute | ||||||||
| 2
| Reason for the notification
| |||||||||
| a)
| Position/status
| Corporate Affairs Manager, PDMR
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| 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 Shares under Share Incentive Plan | ||||||||
| c)
| Price(s) and volume(s) | |
| | ||||||
| | | | ||||||||
| d)
| Aggregated information | | ||||||||
| | | |||||||||
| - Aggregated volume | N/A | |||||||||
| | | |||||||||
| - Aggregated Price
| N/A
| |||||||||
| | | |||||||||
| e)
| Date of the transaction
| 18 April 2024 | ||||||||
| f)
| Place of the transaction
| Outside a trading venue | ||||||||
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