15:22 Tue 14 Jun 2016
Red Rock Resources - Cancellation and Re-issue of Options
("Red Rock" or the "Company")
Cancellation and Re-issue of Options
Directors' Shareholdings
For administrative reasons, it has become necessary to cancel and reissue the EMI options on the same terms and conditions (including exercise price), as described below.
The Company announces the immediate cancellation of the EMI Grants and the reissue with immediate effect of the same number of EMI options to the same grantees and upon the same conditions, with the designation "Series 1".
|
Tranche 1 |
Tranche 2 |
Tranche 3 |
Tranche 4 |
|
1,440,000 |
1,440,000 |
1,440,000 |
1,440,000 |
|
1,170,000 |
1,170,000 |
1,170,000 |
1,170,000 |
Other personnel |
270,000 |
270,000 |
270,000 |
270,000 |
Vesting date: |
Immediate |
|
|
|
Performance condition: |
N/A |
Share price close 3 days over 0.75p |
Share price close 3 days over 1.5p |
Share price close 3 days over 2p |
All options have an exercise price of 0.45p and will lapse on
The vesting in respect of tranches not yet vested will be accelerated, though the performance condition will be retained, in the event of a takeover event.
Following the cancellation and reissue, the resultant total directors' shareholdings are as follows:
Directors |
Ordinary Shares |
Total Shares |
% of Issued Share Capital |
Options |
Warrants |
||
|
Direct |
Indirect |
|
|
|
|
|
Andrew R M Bell |
7,706,077 |
4,148,914 |
11,854,991 |
3.02% |
5,760,000 |
5,867,167 |
|
Michael C Nott |
842,105 |
3,394,182 |
4,236,287 |
1.08% |
900,000 |
421,052 |
|
|
0 |
4,598,194 |
4,598,194 |
1.17% |
4,680,000 |
1,785,714 |
|
|
0 |
3,116,766 |
3,116,766 |
0.79% |
900,000 |
1,996,240 |
*
For further information, please contact:
Scott Kaintz 0207 747 9990 Director
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd
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