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Conditional disposal

4 May 2011 12:20

RNS Number : 9157F
Red Rock Resources plc
04 May 2011
 



RED ROCK RESOURCES PLC

Conditional disposal of interests in Cue Resources Limited

 

4 May 2011

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Kenya and Colombia, and interests in steel feed, uranium, and rare earths, announces that it has agreed to dispose of its entire holding of 15,798,000 common shares in Cue Resources Ltd (TSXV: CUE, "Cue") to its 24.9 per cent. owned associate company Resource Star Limited (ASX: RSL, "RSL") for C$1,556,000. A C$200,000 loan from Red Rock to Cue is also being transferred at face value together with warrants to subscribe in aggregate for 15,798,000 common shares in Cue at prices of between C$0.12 and C$0.15.

The transaction is subject to approval by shareholders of RSL, other than Red Rock, at an RSL EGM expected to be held in June. The consideration payable to Red Rock will be paid in two instalments, 40% on completion with the balance six months later.

Further details on the transaction and on Cue are available in the RSL announcement which may be accessed via http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RSL.

 

Enquiries:

 

Andrew Bell 0207 402 4580 or Red Rock Resources plc Chairman

07766 474849

 

Sandra Spencer 0207 402 4580 or Red Rock Resources plc Public and Investor

07757 660 798 Relations

 

Peter Trevelyan-Clark/ 020 7444 0800 Religare Capital Markets Nominated Adviser

Ben Jeynes

 

Nick Emerson 01483 413500 Simple Investments Ltd Broker

 

Updates on the Company's activities are regularly posted on its website,www.rrrplc.com.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCUGURGAUPGGGC
Date   Source Headline
4th Feb 202512:24 pmRNSHolding(s) in Company
31st Jan 202511:45 amRNSIssue of Shares and Warrants
29th Jan 20254:17 pmRNSDRC Update, Equity Issue, Convertible extension
24th Jan 20258:00 amRNSFollow up - DRC Arbitration
23rd Jan 20252:13 pmRNSHolding(s) in Company
21st Jan 20252:12 pmRNSHolding(s) in Company
15th Jan 20251:04 pmRNSFollow up - DRC
31st Dec 202410:42 amRNSIssue of Shares and Warrants, Total Voting Rights
13th Dec 20241:52 pmRNSFinal Results
11th Dec 20247:50 amRNSUpdate – Australian Gold Project
22nd Nov 20245:44 pmRNSHolding(s) in Company
18th Nov 20247:45 amRNSUpdate
6th Nov 20247:00 amRNSUpdate of Major Interests - Follow Up
23rd Oct 20247:00 amRNSIssue of Equity
14th Oct 20247:05 amRNS-RUpdate
10th Oct 20243:32 pmRNSResult of Meeting
7th Oct 20247:00 amRNSUpdate of major interests
27th Sep 202410:46 amRNSHolding(s) in Company
26th Sep 20244:37 pmRNSShare Subscription, TVR
23rd Sep 20242:45 pmRNSNotice of GM
16th Sep 20247:00 amRNSIvory Coast - Update
28th Aug 20245:02 pmRNSHolding(s) in Company
27th Aug 20247:00 amRNSShare Subscription
27th Aug 20247:00 amRNSReplacement: Extension of Convertible Notes
23rd Aug 20248:40 amRNSExtension of Convertible Notes, Issue of Shares
16th Aug 20244:28 pmRNSIssue of Equity, Total Voting Rights
16th Aug 202412:17 pmRNSUpdate on Australian Assets
30th Jul 202412:48 pmRNSHolding(s) in Company
15th Jul 20242:05 pmRNSHolding(s) in Company
10th Jul 202412:58 pmRNSHolding(s) in Company
4th Jul 20243:08 pmRNSShare Subscription, Total Voting Rights
3rd Jul 20246:26 pmRNSIssue of Equity, Total Voting Rights
26th Jun 20245:25 pmRNSHolding(s) in Company
19th Jun 202410:16 amRNSCompletion of Purchase and Issue of Shares
12th Jun 20243:30 pmRNSVictoria Gold Assets - update on Agreement
10th Jun 20241:48 pmRNSUpdate on Burkina Faso, Australia and DRC
10th Jun 20247:00 amRNSUpdate on Agreement
31st May 20242:32 pmRNSHolding(s) in Company
29th Apr 20248:19 amRNSUpdate
22nd Apr 20247:00 amRNSIssue of Equity, Directors' Dealings and TVR
11th Apr 20247:00 amRNSIssue of Equity
5th Apr 20247:00 amRNSDRC and Gold Assets Update
28th Mar 20247:00 amRNSHalf-year Report
13th Mar 20247:59 amRNSConditional agreement, Australian gold subsidiary
6th Mar 20247:00 amRNSDRC and Gold Assets Update
27th Feb 20247:00 amRNSCo-operation in Next Phase at Bilbale
20th Feb 20243:26 pmRNSHolding(s) in Company
19th Feb 20247:00 amRNSResult of AGM
14th Feb 202412:21 pmRNSDRC and Australia Gold Asset Update
7th Feb 20246:10 pmRNSHolding(s) in Company

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