Completion and issue of shares and warrants

RNS Number : 9477S

Red Rock Resources plc

22 March 2021

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Completion of Purchase

Fulfilment of Condition and Issue of Shares and Warrants

22 March 2021

Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and other minerals, announces further to its announcement of 1 March 2021 that following fulfilment of the shareholder approval condition the Company has now issued the 101,550,000 new Ordinary Shares of 0.01p in the Company ("Shares") at a price of 1.05 pence per Share due to Kansai Mining Corporation Ltd ("Kansai") or its nominees in settlement of the acquisition of Kansai's remaining beneficial interest in the Mikei gold project in Kenya (the "Purchase").

Non-tradeable warrants with a life of two years and an exercise price of 2 pence will also now be issued to the placees in the share placing announced on 11 February 2021 ("Placing"), and to Kansai or its nominees, on the basis of one warrant for each two Shares issued under the Placing, and one warrant for each two Shares issued under the Purchase.

Application has been made to the London Stock Exchange for Admission of the Shares, which will rank pari passu with the Company's existing issued Ordinary Shares. Dealings are expected to commence at 8.00 a.m. on or around 25 March 2021.

Total Voting Rights (TVR)

Following the issue of the 101,550,000 new Ordinary Shares, the issued share capital of the Company consists of 1,169,400,352 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 1,169,400,352 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to, their interest in the Company under the Disclosure and Transparency Rules.

Further Information

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information, please contact:

Andrew Bell 0207 747 9990                                                            Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396  NOMAD Beaumont Cornish Limited

Mark Treharne 0203 700 2500      Broker Pello Capital Limited

 

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