Business
Replacement: Issue of Shares under Incentive Plan
Replacement: Issue of Shares under Incentive Plan.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6498V Red Rock Resources plc 09 April 2019 \n\n \nThe following announcement replaces the announcement made earlier today with RNS Number 6167V at 10.16. In that announcement Andrew R M Bell's direct holding was given as 31,792,511 instead of the correct figure of 31,238,520, his total shareholding was given as 39,620,991 instead of the correct figure of 39,067,000 and his percentage holding of the enlarged issued share capital was given as 6.47% instead of the correct figure of 6.38%. All other text remains the same.\n \n \nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\n \nIssue of Shares under Share Incentive Plan and Directors' Dealings\n \n \n9 April 2019\n \nRed Rock Resources Plc, the natural resource investment and development company, announces that on 2 April 2019 the Board of Directors approved the issuance of 6,556,800 ordinary shares in the Company (\"Ordinary Shares\") under the Company's Share Incentive Plan (\"SIP\") for the 2018/19 tax year as agreed in the Trustees meeting held on 1 April 2019. \n \nUnder the terms of the SIP, once employees have satisfactorily completed their probationary period, they may sign up to both the Free Share Agreement and Partnership Share Agreement, however, they may only begin active participation in the Partnership Agreement at the beginning of the tax year.\n \nFree Share Agreement - Free Share Award\n \nUnder the Free Share Agreement, employees may be awarded up to £3,600 worth of Ordinary Shares in the Company in any one tax year. Ordinary Shares to the value of £3,600 per existing employee have been awarded in respect of the 2018/19 tax year, representing a total of 3,000,000 Ordinary Shares, with reference to the mid-market closing price of 0.60p as of 29 March 2019.\n \nPartnership Share Agreement - Share Award\n \nIn addition, employees may purchase up to £1,800 (or up to a maximum of 10% of their salary, whichever is the lower) worth of Shares (the \"Partnership Shares\") in any one tax year. The Company will match these shares on a 2:1 basis (the \"Matching Shares\"). The Partnership and the Matching Shares are awarded with reference to the lower of the mid-market closing price at the beginning or at the end of the accumulation period. \n \nTherefore, 1,185,600...