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Today 16:13
RNS Number : 8338S
Rockfire Resources PLC
08 November 2023
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.
8 November 2023
Rockfire Resources plc
("Rockfire" or the "Company")
Response to UK sanction on Paloma Precious DMCC
Rockfire Resources plc (LON: ROCK), the gold, base metal and critical mineral exploration company, notes the announcement made today by the Foreign, Commonwealth & Development Office ("FCDO"), a department of the Government of the United Kingdom (the UK Government"), imposing sanctions on Paloma Precious DMCC ("Paloma") and 28 other individuals and entities (the "Sanctions").
On 15 September 2023, Rockfire announced the execution of a conditional share purchase agreement (the "Agreement") with Paloma for the acquisition of 100% of Emirates Gold DMCC ("Emirates") and 99% of Emperesse Bullion LLC ("Emperesse") (Emirates and Emperesse are together the "Targets") (the "Transaction"). The Transaction would constitute a reverse takeover ("RTO") under the AIM Rules for Companies (the "AIM Rules") and thus the Transaction is conditional on approval of shareholders of the Company at a general meeting and the publication of an AIM admission document. On signing of the Agreement, Rockfire acquired 10% of the Targets and conditionally agreed to acquire the remaining 90% of the Targets, which is still currently owned by Paloma, on completion of the Transaction.
On 22 September 2023, Paloma notified the Company via a TR-1 form that, on 20 September 2023, it had sold its entire interest of 400,000,000 ordinary shares of 0.1 pence each in the capital of the Company (the "Ordinary Shares") in an off-market transaction (the "Disposal"). Following the Disposal, Paloma had and still has no interest in Rockfire's issued share capital.
In light of the Sanctions announced today by the UK Government, the Company is taking urgent legal in order to determine the impact on the Transaction. A further announcement will be made in due course.
The person responsible for arranging the release of this announcement on behalf of the Company is David Price, Chief Executive Officer of the Company.
The first holding RNS is a late notification from 16th May when the holding went through the 5% threshold. The second RNS shows the holding fall back under 5% as at 1st June. The shareholding is held by Transact nominees on behalf of any number of investors holding SDX shares on that platform.
My point has been proven, Paranoia
I am not in any way associated with Ella. He/him clearly has an agenda but on occasions they do raise legitimate questions - shame they ruin it with some of the other guff.
If you want to waste your time trawling through my lse chat history - go ahead.
And I made a nice 5 figure sum from ODX as I didn't get greedy like most and exited early.
Funny how some of the holders who are 80% down claim to be the experts. The loss on your accounts suggest otherwise. Maybe your blinding optimism is the reason you are heavily down? On the face of it this is great news (for a change). BUT - it isn't worth anything without any orders. That's what will drive the price upwards. The news today will create a short term spike that will be heavily sold into and quite possibly end up in the red as some of the rise happened yesterday. It's understandable that some are desperate for any crumb that they may make back some of their paper losses. But take this as a nice step forward for now but nothing material until any orders a re confirmed.
Not sure the part about approval under CTDA is so good. Suggesting that it's dead in the water unless they submit new data by 10th February which they have said is unlikely.
@wadogara - You are forgetting the dilutory affect of a placing.
https://twitter.com/investostan/status/1479504460124762120?s=20
A tweet and press release from BIVDA
https://twitter.com/BIVDA/status/1479495710278131712?s=20
states Supplied by NHS Test and Trace on the box
https://www.surescreen.com/covid-19-self-testing
https://www.gov.uk/government/publications/covid-19-rapid-lateral-flow-test-kit-instructions-surescreen.zh
https://twitter.com/JNHanvey/status/1470342331274608641
@sajidjavid
Can you please explain why you pulled the plug on the UK domestic diagnostics industry (AGAIN) when additional capacity is so obviously required?
Why the antipathy to domestic industry? It’s beyond illogical.
I wouldn't be surprised if the DHSC were just fed up of certain ODX shareholders constantly phoning and emailing them - probably rooting through the bins as well.
Is it too early to start browsing the Tesla website?