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Red Rock Resources (RRR)

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Thursday 21 December, 2017

Red Rock Resources

Issue of Equity, Directors' Dealings and TVR

RNS Number : 1401A
Red Rock Resources plc
21 December 2017
 

Red Rock Resources PLC

("Red Rock" or the "Company")

 

Issue of Equity and Director's Dealing

Total Voting Rights

 

21 December 2017

 

Red Rock Resources Plc announces that it has raised £125,000 by way of a placing of 15,625,000 new ordinary shares of 0.01 pence each ("Shares") in the Company at a price of 0.80p per Share with 1 for 2 warrants exercisable at a price of 1.6 pence per Share for twenty-four months ("December 2019 Warrants")(together the "Placing").

9,375,000 Shares were subscribed by First Equity Limited, and 6,250,000 Shares were subscribed by Andrew Bell, a director of the Company.

The table below sets out the total shareholding and interests of Mr Bell in the share capital of the Company:

 

 

Directors

Ordinary Shares

Total Shares

% of Enlarged Issued Share Capital

Options

Warrants

Direct

Indirect*

Andrew R M Bell

13,444,984

23,776,007

37,220,991

7.46%

17,760,000

7,886,904

 

Andrew Bell holds 5,428,480 shares indirectly held by the Share Incentive Plan Trustees.  In addition, Andrew Bell indirectly holds 5,600 shares through Beaufort Securities Nominees Limited and 11,330,834 shares in the account of Alliance Trust Nominees Limited and 7,011,093 shares in the account of Rock (Nominees) Limited and 13,444,984 shares directly and jointly with Stephanie Bell.

Andrew Bell, Chairman, comments: "We know some subscribers were not able to participate in the recent convertible loan stock instrument but would have been interested in the opportunity of a share placing. We are glad to be able to give them the chance to subscribe through this Placing. We end our interim period to 31 December with sufficient liquid assets on our balance sheet to face 2018 with confidence. We thank all subscribers to the recent convertible loan stock, and to this Placing, for their support for the Company."

Further Information and Additional Terms

The December 2019 Warrants are subject to call at seven days' notice should the closing price of the Shares exceed 5 pence for ten consecutive days.

The Placing is conditional on admission of the Shares to trading on AIM ("Admission").

Application has been made to the London Stock Exchange for Admission of the Shares, which will rank pari passu with the Company's existing issued Ordinary Shares. Dealings are expected to commence at 8.00 a.m. on or around 10th January 2017.

Total Voting Rights (TVR)

Following the issue of the 15,625,000 new Ordinary Shares, the issued share capital of the Company consists of 499,042,740 ordinary shares of 0.01p each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 499,042,740 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.

Note:  Market soundings, as defined in the Market Abuse Regulation ("MAR"), were taken in respect of the Placing with the result that certain persons became aware of inside information, as permitted by MAR. That inside information is set out in this announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article 17 of MAR. Therefore, those persons that received inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

 For further information, please contact:

Andrew Bell 0207 747 9990                                                       Chairman Red Rock Resources Plc

Scott Kaintz 0207 747 9990                                                        Director Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396         NOMAD Beaumont Cornish Limited

Jason Robertson 0207 374 2212                                                Broker First Equity Limited

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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