Grant of Options

RNS Number : 6422W

Red Rock Resources plc

29 January 2013

 



Red Rock Resources Plc

("Red Rock" or the "Company")

Grant of Options

29 January 2013

Red Rock Resources plc announces the grant of 39,000,000 options over 39,000,000 ordinary shares of £0.001 in the capital of the Company ("Ordinary Shares")

representing 3.56% of the current issued share capital. Further details of the grants are outlined below. 

The Board has approved the grant of the following options to Executive Directors of the Company:

	Quantity	Exercise  Price (£)	Exercisable  from	Expiration
Andrew Bell
	2,500,000	0.02	Immediate	01-Jun-16
	2,500,000	0.03	Immediate	01-Jun-17
	2,500,000	0.04	01-Jun-14	01-Jun-18
	2,500,000	0.05	01-Jun-15	01-Jun-19
Manoli Yannaghas
	1,250,000	0.02	Immediate	01-Jun-16
	1,250,000	0.03	Immediate	01-Jun-17
	1,250,000	0.04	01-Jun-14	01-Jun-18
	1,250,000	0.05	01-Jun-15	01-Jun-19

Further, the Board approved the grant of the following options to the Non-Executive Directors of the Company as outlined below:

	Quantity	Exercise  Price (£)	Exercisable  from	Expiration
John Watkins
	1,000,000	0.02	Immediate	01-Jun-16
	1,000,000	0.03	Immediate	01-Jun-17
Michael Nott
	1,000,000	0.02	Immediate	01-Jun-16
	1,000,000	0.03	Immediate	01-Jun-17
James Ladner
	2,000,000	0.02	Immediate	01-Jun-16
	1,000,000	0.03	Immediate	01-Jun-17

Lastly the Board also approved 17,000,000 stand-alone options to be granted at the Board's discretion to key staff and project managers.  The grant of options will have an exercise period of two years from date of grant, expirations between 1 June 2016 and 1 June 2019, and strike prices between £0.02 and £0.05.   

The Board considers the award of these options to be in line with the Company's policy of providing incentives to senior management and to key personnel in order to fully align employee interests with that of shareholders, facilitate retention and performance, and maximize value realisation from the Company's projects in Greenland, Kenya, and Colombia. 

For further information contact:

Andrew Bell020 7402 4580 or 07766 474849                  Chairman Red Rock Resources plc

Sandra Spencer 020 7402 4580 or 07757 660 798            Investor Relations Red Rock Resources plc

Gerry Beaney / Daniela Amihood 020 7383 5100           NOMAD Grant Thornton Corp Finance

Nick Emerson 01483 413500                                          Broker Simple Investments Ltd

 

END

 

 

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