Last checked at 23 Sep 2010 15:38
RED ROCK RESOURCES PLC
Grant of options
Dated: 23 September 2010
Red Rock Resources plc ("Red Rock" or the "Company") announces that on 22 September 2010 it granted options to subscribe for a total 17 million ordinary shares to directors and employees. Of these, options in respect of 11,000,000 ordinary shares are exercisable at a price of 3.2 pence per share, expiring on the fifth anniversary of grant. One half may be exercised immediately, with the balance once year after the date of grant. These were granted as below:
| Andrew Bell | 3,250,000 |
| Michael Nott | 2,000,000 |
| John Watkins | 1,000,000 |
| Manoli Yannaghas | 1,000,000 |
| Robert Weicker | 250,000 |
| Other Employees | 3,500,000 |
Options over the remaining 6,000,000 ordinary shares were granted to Manoli Yannaghas pursuant to an earlier decision of the remuneration committee. These are exercisable at a price of 2.4226 pence per share (being the average closing price on AIM in the 30 days preceding grant) and expire on the fifth anniversary of grant with vesting periods as below:
| 2,000,000 | On grant |
| 2,000,000 | On commissioning of the 100 tpd capacity processing plant at the El Limon mine in Colombia by 31 December 2010 |
| 2,000,000 | On the earlier of exercise of the Company's options to acquire shares in Mineras Four Points SA ("Mineras"), or upon repayment in full of all loans made to Mineras |
Following the grant, the directors are interested in options to subscribe for ordinary shares as set out below:
| Name | Number of options | Expiry date | Exercise Price |
| Andrew Bell | 3,000,000 | 31 May 2011 | 1.25 pence |
|
| 750,000 | 11 May 2012 | 3.5 pence |
|
| 10,000,000 | 3 June 2014 | 1.1 pence |
|
| 3,250,000 | 22 September 2015 | 3.2 pence |
| Michael Nott | 750,000 | 31 May 2011 | 1.25 pence |
|
| 1,000,000 | 11 May 2012 | 3.5 pence |
|
| 2,000,000 | 22 September 2015 | 3.2 pence |
| John Watkins | 500,000 | 31 May 2011 | 1.25 pence |
|
| 750,000 | 11 May 2012 | 3.5 pence |
|
| 1,000,000 | 22 September 2015 | 3.2 pence |
| Manoli Yannaghas | 750,000 | 31 May 2011 | 1.25 pence |
|
| 1,000,000 | 22 September 2015 | 3.2 pence |
|
| 6,000,000 | 22 September 2015 | 2.4226 pence |
| Robert Weicker | 500,000 | 31 May 2011 | 1.25 pence |
|
| 750,000 | 11 May 2012 | 3.5 pence |
|
| 250,000 | 22 September 2015 | 3.2 pence |
Enquiries:
| Red Rock Resources plc | |
| Andrew Bell, Chairman | 0207 402 4580/07766 474849 |
| Sandra Spencer, Public and Investor Relations | 0207 402 4580/07757 660 798 |
| | |
| Nominated Adviser | |
| Religare Capital Markets | |
| Peter Trevelyan-Clark/Ben Jeynes | 020 7444 0800 |
| | |
| Broker | |
| Simple Investments Ltd | |
| Nick Emerson, Renato Rufus | 01483 413500 |
| | |
Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.