Issue of Equity

RNS Number : 9715O

Red Rock Resources plc

07 July 2010

 



RED ROCK RESOURCES PLC

Issue of Equity

Dated: 7 July 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 15,042,190 ordinary shares of 0.1 pence each ("Ordinary 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 1.615 pence per Ordinary Share (the "Subscription"). The proceeds of the Subscription are £242,931.37 before expenses, conditional on the new Ordinary Shares being admitted to trading on AIM, and will be utilized towards the repayment of the US$ 1.6 million short term loan provided by YA Global, the terms of which were announced by the Company on 28 April 2010.

Following the issue of the new Ordinary Shares the Company's total issued ordinary share capital will consist of 598,951,002 Ordinary Shares. 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. Dealings are expected to commence at 8.00 a.m. on 13 July 2010.

For further information contact:

Andrew Bell	0207 402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Peter Trevelyan-Clark/ Ben Jeynes	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker
Ron Marshman/ Justine James	020 7245 1100	Hansard Communications	Public Relations

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

 

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