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Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Issues GBP623,000 worth of convertible notes with accompanying warrants to high net worth investors. Says GBP367,000 of subscriptions for the notes were new subscriptions, and GBP256,000 were conversions of debt facilities. The notes are convertible into ordinary shares at a price of 0.6 pence each.
"Subscribers to this issue of notes, which was carried out during weak markets at a premium to the market price, included both holders of debt and long-term equity investors, and the arrangement fee of 6% was paid in notes. This pricing reflects the confidence of our investors in Red Rock's prospects," Chair Andrew Bell says.
Current stock price: 0.52 pence, down 6.4% on Monday
12-month change: down 29%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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