Red Rock Resources plc has issued 80,928,000 ordinary shares of £0.0001 each in the company under its share incentive plan.
The awards are for the 2023/24 tax year as agreed by the trustees in their meeting held on 2 April 2024.
Under the SIP, all eligible employees may elect to have monthly deductions from their salary and held by the SIP trustees until the tax year ends.
Red Rock issued a total 14,976,000 partnership shares, 29,052,000 matching shares and 36,000,000 free shares at the mid-market closing price of £0.0006 as at 28 March 2024.
The company’s three directors participated in the shares purchase and award of 44,928,000 of the new ordinary shares.
Chairman and chief executive Andrew Bell participated for 15 million new ordinary shares and now has a total 71,348,386 shares, representing 1.72% of the enlarged issued capital, and 25,880,000 options.
Non-executive director Alexander Borrelli, also 15m shares and now holds 20,364,249 (0.49%).
NED Sam Quinn, 14,928,000 shares and now has 37,610,991 shares (0.91%) with 3,450,000 options.
Following admission of the 80,928,000 new ordinary shares, the company’s total issued share capital will consist of 4,138,978,811 ordinary shares, each with one voting right.
Red Rock holds no shares in treasury.