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Red Rock Resources (RRR)

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Thursday 23 February, 2012

Red Rock Resources

Issue of Equity

RNS Number : 9860X
Red Rock Resources plc
23 February 2012
 



RED ROCK RESOURCES PLC

 

("Red Rock" or the "Company")

 

Issue of Equity

 

Dated: 23 February 2012

 

Red Rock announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 27,215,148 new ordinary shares of 0.1 pence each ("Shares") in the Company under the terms of the Standby Equity Distribution Agreement ("SEDA") between Red Rock and YA Global, at a price of 2.689 pence per Share (the "Subscription"). The proceeds of the Subscription are £731,851, conditional on the Shares being admitted to trading on AIM.  

 

The net proceeds of the Subscription are being applied to repayment of loans and on-going working capital requirements.

 

Following the Subscription, the Company's total issued ordinary share capital will be 811,410,417 ordinary shares of 0.1p. Application will be made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on or around 29 February 2012.

 

 

Enquiries:

 

Andrew Bell

020 7099 5840 or

07766 474849

 

Red Rock Resources plc

Chairman

 

Sandra Spencer

020 7099 5840 or

07757 660 798

 

Red Rock Resources plc

Public and Investor Relations

Philip Davies/David Porter

020 7444 0800

Religare Capital Markets

Nominated Adviser

 

Nick Emerson

01483 413500

Simple Investments Ltd

Broker

 

 

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

 


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