Issue of Equity

RNS Number : 3075A

Red Rock Resources plc

06 October 2009

 



RED ROCK RESOURCES PLC

Issue of Equity

Dated: 6 October 2009

Red Rock Resources plc ('Red Rock' or the 'Company') the mineral exploration and development company focused on advancing iron ore, uranium and manganese projects in Australia and East Africa, announces that YA Global Master SPV, LTD. ('YA Global'), which is advised by Yorkville Advisors LLC, yesterday subscribed for 6,489,867 ordinary shares of 0.1 pence each ('Ordinary Shares') in the Company under the terms of the Standby Equity Distribution Agreement ('SEDA') between Regency and YA Global, announced on 1 May 2009, at a price of 1.54 pence per Ordinary Share.

As per the terms of the SEDA, a further 1,244,787 Ordinary Shares have been issued to YA Global at a price of 1.61 pence per Ordinary Share as a result of the Company's first use of the SEDA.

In addition to the subscription by YA Global, Regency Mines Plc ('Regency') also subscribed for 1,298,000 Ordinary Shares at a price of 1.54 pence per Ordinary Share. As a result, Regency is now interested in 137,148,000 Ordinary Shares in the Company. This holding represents 28.73 per cent. of the Company's issued ordinary share capital.

The total amount subscribed is £120,000 and will provide additional working capital.

Application has been made to the London Stock Exchange for the new Ordinary Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading will commence on 12 October 2009.

Following the issue of the new Ordinary Shares the Company's issued ordinary share capital, as enlarged by the new Ordinary Shares, will be 477,381,702 Ordinary Shares.

Enquiries:

Andrew Bell	0207 402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Peter Trevelyan-Clark / Ben Jeynes	020 7489 4500	Blomfield Corporate Finance Ltd	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker
Ron Marshman /  John Greenhalgh	020 7011 9411	Lothbury Financial Limited	Public Relations

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

 

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