Last checked at 13 Jul 2015 07:00
Red Rock Resources Plc
("Red Rock" or the "Company")
Final tranche of Share Subscription
13 July 2015
Red Rock Resources plc, the mining and natural resource exploration company with interests in gold in Africa, and investments in other mineral assets, announces an update on fundraising activities.
Share Subscription
Having been advised of extra demand from investors, Red Rock is issuing 157,894,800 ordinary shares of 0.01p each ("new Shares") in the Company at a price of 0.0475pper Share (the "Subscription") as the final tranche of the subscription announced on 7 July 2015, and on the same terms. The gross proceeds of the Subscription are £75,000. For every two Subscription Shares, each subscriber will be issued with one warrant exercisable at 0.065p per Share and expiring on 7 July 2017 ("Warrants").
The proceeds of the Subscription will fund the Company's exploration in West Africa.
Andrew Bell, Chairman, states: "We are glad to have the confidence of our new shareholders and to have achieved our originally targeted total investment and look forward to strong news flow in the months ahead".
Admission and dealings
The new Shares will when issued rank pari passu in all respects with the Company's existing issued ordinary shares. Application will be made for the admission of the new Shares to trading on AIM and it is expected that such admission will occur and that dealings will commence at 8.00 a.m. on 16 July 2015. The Subscription and Placing are conditional on Admission becoming effective.
The total number of voting rights in the Company will therefore be 5,617,287,995. This figure may, following the completion of the Subscription, be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
Andrew Bell 0207 747 9990 or 0776 647 4849 Chairman Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd.
Christian Pickel 0203 128 8817 Media Relations MHP Communications