Issue of Equity

RNS Number : 6393S
Red Rock Resources plc
14 September 2010
 



RED ROCK RESOURCES PLC

Issue of Equity

Dated: 14 September 2010

 

Red Rock Resources plc ("Red Rock" or the "Company") announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 11,114,689 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, announced on 1 May 2009, at a price of 2.25 pence per Share. The proceeds of the subscription are £250,000 before expenses, conditional on the Shares being admitted to trading on AIM. At the same time the Company has placed 3,200,000 Shares at a price of 2.25 pence per Share, for proceeds of £57,000 before expenses, conditional on the Shares being admitted to trading on AIM.  The proceeds of the subscription and placing will be applied towards a further drawdown by Mineras Four Points SA under the Funding and Co-operation Agreement announced on 10 June 2010.

 

Following the issue of the Shares the Company's total issued ordinary share capital will be 641,988,780 ordinary shares of 0.1p. Application has been 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 20 September 2010.

 

Enquiries:

 

Andrew Bell

0207 402 4580 or

07766 474849

Red Rock Resources plc

Chairman

 

 

 

 

 

Sandra Spencer

0207 402 4580 or

07757 660 798

Red Rock Resources plc

Public and Investor Relations

 

 

 

 

Peter Trevelyan-Clark/ Ben Jeynes

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
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