Issue of Equity

RNS Number : 6492M

Red Rock Resources plc

19 September 2012

 



RED ROCK RESOURCES PLC

("Red Rock" or the "Company")

Issue of Equity

19 September 2012

Red Rock Resources plc ("Red Rock" or the "Company") announces that it has placed 38,823,530 new ordinary shares of 0.1p each (the "Ordinary Shares") representing approximately 4.0% of the Company's issued share capital at a price of 1.7 pence per share to raise £660,000 the ("Placing").  As part of the Placing, North Atlantic Mining Associates Ltd. ("NAMA"), the Company's joint venture partner in Greenland, will receive 35,294,118 shares. NAMA will hold 3.65% of the Company's issued share capital upon completion of the Placing.   

The net proceeds of £657,000 from the Placing will be applied towards Greenland related exploration expenses and for working capital purposes.

Application will be 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 or around 26 September 2012.  Following the Placing, the Company's total issued ordinary share capital will be 966,137,800 ordinary shares of 0.1p. 

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	Press Relations
Gerry Beaney Daniela Amihood	020 7383 5100	Grant Thornton Corporate Finance	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

 

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