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REG - Red Rock Resources - Jupiter Mines Buy-Back Update <Origin Href="QuoteRef">RRR.L</Origin>

RNS Number : 0296S
Red Rock Resources plc
28 September 2017

Red Rock Resources plc

("Red Rock " or the "Company")

Jupiter Mines Buy-Back Update

28 September 2017

Further to the announcements of 31 July 2017 and 11 September 2017, Red Rock notes that Jupiter Mines Ltd ("Jupiter"), an Australian unlisted public company, has announced a further update regarding its planned US$25m distribution to its shareholders.

Highlights:

o Distribution will be by means of an equal access share buyback to return US$25m (approximately AU$31.3m) to Jupiter shareholders ("Buy-Back")

o All Jupiter shareholders to be made an equal offer to Buy-Back 4% of their shares at a price of US$0.29 (AU$0.36) per share

o Updated Buy-Back schedule provided below

Event

Date




Booklet lodged with ASIC

Wednesday, 27 September 2017

Record Date of Buy-Back Offer (2.00pm WST)

Thursday, 28 September 2017

Booklet dispatched to Shareholders

Tuesday, 3 October 2017


Opening date (9.00am WST)

Tuesday, 3 October 2017


Closing date (2.00pm WST)

Tuesday, 7 November 2017


Acceptances processed

Monday, 4 December 2017


Cancellation of Shares

Tuesday, 5 December 2017


Dispatch of confirmation letters

Tuesday, 5 December 2017


Dispatch of payment to Buy-Back participants

Tuesday, 5 December 2017


The full Jupiter announcement may be read on its website www.jupitermines.com.

Red Rock Chairman Andrew Bell states: "Further details on the upcoming share buyback have been released by Jupiter including now more definitive timetables. This buyback is expected to bring nearly $300,000 into Red Rock and will push the totals for the year to nearly $1m.

Our investment in manganese production in South Africa continues to form a meaningful part of our financing mix and we look forward to more news from Jupiter regarding developments at Tshipi and the strategic options currently under consideration. "

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

For further information, please contact:

Andrew Bell 0207 747 9990Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396NOMAD Beaumont Cornish Limited

Neil Badger 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd


This information is provided by RNS
The company news service from the London Stock Exchange
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