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Issue of Equity

7 Jul 2010 11:58

RNS Number : 9715O
Red Rock Resources plc
07 July 2010
 



RED ROCK RESOURCES PLC

Issue of Equity

Dated: 7 July 2010

 

Red Rock Resources plc ("Red Rock" or the "Company") announces that YA Global Master SPV, LTD. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 15,042,190 ordinary shares of 0.1 pence each ("Ordinary Shares") in the Company under the terms of the Standby Equity Distribution Agreement ("SEDA") between Red Rock and YA Global, announced on 1 May 2009, at a price of 1.615 pence per Ordinary Share (the "Subscription"). The proceeds of the Subscription are £242,931.37 before expenses, conditional on the new Ordinary Shares being admitted to trading on AIM, and will be utilized towards the repayment of the US$ 1.6 million short term loan provided by YA Global, the terms of which were announced by the Company on 28 April 2010.

 

Following the issue of the new Ordinary Shares the Company's total issued ordinary share capital will consist of 598,951,002 Ordinary Shares. Application has been made to the London Stock Exchange for the new Ordinary Shares, which rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 13 July 2010.

 

For further information contact:

Andrew Bell

0207 402 4580 or 07766 474849

 

Red Rock Resources plc

Chairman

Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

Religare Capital Markets

Nominated Adviser

Nick Emerson

 

01483 413500

Simple Investments Ltd

Broker

Ron Marshman/ Justine James

020 7245 1100

Hansard Communications

Public Relations

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
 
 
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