Business
Share Incentive Plan and Directors' Dealings
Share Incentive Plan and Directors' Dealings.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7831M Red Rock Resources plc 22 January 2016 \n\nRed Rock Resources Plc\n \nIssue of Shares under Share Incentive Plan and Directors' Dealings\n \n \n22 January 2016\n \nRed Rock Resources Plc (\"Red Rock\" or the \"Company\"), the natural resource investment and development company, announces that on 21 January 2016 the Board of Directors approved the issuance of 3,750,000 ordinary shares in the Company (\"Ordinary Shares\") under the Company's Share Incentive Plan (\"SIP\") for the 2015/16 tax year as agreed in the Trustees meeting held on 20 January 2016. \n \nUnder the terms of the SIP, once employees have worked for the Company for three months, they qualify for the Free Share Agreement.\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 £3,000 per existing employee have been awarded in respect of the 2015/16 tax year, representing a total of 3,750,000 Ordinary Shares, with reference to the mid-market closing price of 0.40p on 20 January 2016.\n \nThe Directors have participated in this award and the above number includes such participation, further details of which are set out below.\n \nAll such shares will be held by the SIP Trustees and the Ordinary Shares cannot be released to participants until five years after the date of the award, except in specific circumstances.\n \n \nDirectors' Participation\n \nIn respect of the 2015/2016 tax year, each Director, has been awarded 750,000 Ordinary Shares. These Shares awarded to Directors have been included in the calculations above.\n \nAs a result of such participation, the Directors' new shareholdings in the Company are set out in the table below:\n \n\n\n\n\nDirectors\n\n\nNew Ordinary Shares\n\n\nOrdinary Shares in the Company Post Issuance\n\n\nTotal Shares\n\n\n% of Issued Share Capital\n\n\nWarrants\n\n \n\n\n \n\n\n\n \n\n\n \n\n\nDirect\n\n\nIndirect*\n\n\n \n\n\n \n\n\n \n\n \n\n\n\nAndrew R M Bell\n\n\n750,000\n\n\n2,944,173\n\n\n1,218,080\n\n\n4,162,253\n\n\n1.70%\n\n\n1,105,263\n\n \n\n\n\nSam Quinn\n\n\n750,000\n\n\n- \n\n\n1,171,052\n\n\n1,171,052\n\n\n0.48...