Issue of Equity

RNS Number : 2881Y

Red Rock Resources plc

28 February 2012

 



RED ROCK RESOURCES PLC

("Red Rock" or the "Company")

Issue of Equity

Dated: 28 February 2012

Red Rock Resources plc ("Red Rock" or the "Company") announces that it has placed 30,000,000 new ordinary shares of 0.1p each (the "Ordinary Shares") at a price of 2.6 pence per share to raise £780,000 before expenses (the "Placing").  The Placing will take place in two tranches with settlement of 12,000,000 Ordinary Shares taking place on 6 March 2012 (the "First Tranche") and the balance of 18,000,000 Ordinary Shares settling on 13 March 2012 (the "Second Tranche").   

The net proceeds of the Placing will be applied towards the Company's on-going working capital requirements. 

Application will be made to the London Stock Exchange for the 30,000,000 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 8 March 2012 for the First Tranche, following which the Company's total issued ordinary share capital will be 823,410,417 ordinary shares of 0.1p.  Dealings in the Second Tranche are expected to commence at 8:00 am on or around the 15 March 2012, following which the Company's total issued ordinary share capital will be 841,410,417 ordinary shares of 0.1p.

Enquiries:

Andrew Bell	020 7099 5840 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7099 5840 or 07757 660 798	Red Rock Resources plc	Public and Investor Relations
Philip Davies/David Porter	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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