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Red Rock capital reorganisation approved

By BFN News | 01:48 PM | Tuesday 23 December, 2014

Red Rock Resources' shareholders have approved the proposed capital reorganisation at the annual general meeting today.

Each of the 2,371,116,172 existing ordinary shares of 0.1p will be subdivided into one deferred share of 0.09p each (deferred shares) and one new ordinary share of 0.01p each (new ordinary shares).

The new ordinary shares will have the same rights and be subject to the same restrictions (save as to nominal value) as the existing ordinary shares in the company's articles of association and the deferred shares will have the rights and be subject to the restrictions attached to deferred shares as set out in the articles of association.

Application has been made for the 2,371,116,172 new ordinary shares to be admitted to trading on AIM and admission is expected to take place tomorrow. 

All the other resolutions proposed at the AGM were passed by shareholders.

At 1:48pm: (LON:RRR) Red Rock Resources PLC share price was -0.01p at 0.13p

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