Issue of Equity

RNS Number : 0671V
Red Rock Resources plc
05 January 2012
 



RED ROCK RESOURCES PLC

 

("Red Rock" or the "Company")

 

Issue of Equity

 

Dated: 05 January 2012

 

Red Rock announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 16,705,576 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 2.993 pence per Share (the "Subscription"). The net proceeds of the Subscription are £500,000, conditional on the Shares being admitted to trading on AIM.

 

The proceeds of the Subscription are being applied towards on-going working capital requirements and to reducing debt. 

 

Following the Subscription, the Company's total issued ordinary share capital will be 755,363,459 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 11 January 2012.

 

 

Enquiries:

 

Andrew Bell

020 7402 4580 or

07766 474849

 

Red Rock Resources plc

Chairman

 

Sandra Spencer

020 7402 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
The company news service from the London Stock Exchange
 
END
 
 
IOESSAFEIFESEFF
UK 100

Latest directors dealings