Last checked at 28 Sep 2017 07:00
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 9990 Chairman Red Rock Resources Plc
Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Neil Badger 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd