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.

 

END

 

 

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