Issue of Equity

RNS Number : 4570S

Red Rock Resources plc

19 May 2009

 

RED ROCK RESOURCES PLC

Issue of Equity

Dated: 19 May 2009

Red Rock Resources plc ('Red Rock' or the 'Company') the mining exploration and mineral investment company with interests in iron ore and manganese in Australia and Zambia, and uranium investments in Africa and Australia, has issued 15,000,000 new ordinary shares of 0.1p each in the capital of the Company (the 'Placing Shares') at 1p per Share, to raise £150,000 before expenses, conditional on the Shares being admitted to trading on AIM (the 'Placing').

 The Placing Shares have been issued as a private placement to qualified investors and are not issued under the Standby Equity (SEDA) facility recently announced by Red Rock. The purpose of the Placing is to fund the Company's business expansion.   

 The Company has also issued 5,571,565 Shares at 1.041p per Share as the balance of the initial fee payments in relation to the SEDA recently announced and 266,666 Shares at 1.5p per Share in payment of public relations services (the 'Issue').

 As part of the Placing, Regency Mines plc, a company of which Mr Andrew Bell and Mr John Watkins and Mr Ken Watson are directors, has agreed to subscribe for 2,500,000 Placing Shares. Following the subscription, Regency Mines plc will be interested in 135,850,000 ordinary 0.1p shares in the Company, amounting to approximately 29.4% of the issued share capital as enlarged by the Placing. 

 Following the Placing and the Issue, the Company's total issued ordinary share capital will be 462,469,063 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 22 May 2009.

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.

 

END

 

 

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