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Issue of Equity and Other Transactions

18 Mar 2011 07:00

RNS Number : 1829D
Red Rock Resources plc
18 March 2011
 



RED ROCK RESOURCES PLC

Issue of Equity and Other Transactions

Dated: 18 March 2011

 

Red Rock Resources plc ("Red Rock" or the "Company") announces that North Atlantic Mining Associates Ltd ("NAMA"), with which the Company has entered into the Option and Earn-In Agreement announced on 3 March 2011, has subscribed for 333,530 new ordinary shares of 0.1 pence each ("Shares") in the Company at a price of 11.125 pence per Share (the "Subscription"). The proceeds of the subscription are £37,105 before expenses, conditional on the Shares being admitted to trading on AIM.

 

Following the Subscription, the Company's issued ordinary share capital will be 688,373,835 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the 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 23March 2011.

 

Kansai Mining Corporation

 

The Company also announces that it has exercised on 11th March 2011, at a cost of C$10, the option over 29,629,000 existing shares in Kansai Mining Corporation ("Kansai" and "Kansai Shares") announced on 3 December 2009. The Kansai Shares were held by RAB Special Situations (Master) Fund Ltd, and amount to a pre-dilution interest of 28.9% of Kansai.

 

Following the acquisition of the Kansai Shares, Red Rock is now interested in a total of 39,629,000 Kansai shares, which it believes represent approximately 35.2% of Kansai's issued ordinary share capital on a diluted basis.

 

Nimrodel Resources Limited

 

The Company announced the sale of its interest in the Savage River mining tenement EL 11/2005 in Tasmania to Walkabout Resources Pty Ltd ("WR") and Resource Star Ltd on 14 January 2010. Further to Red Rock's announcement of 13 December 2010 and subsequent to the approval of the acquisition of WR by Nimrodel Resources Ltd (ASX:NMR, "NMR") at an NMR shareholders' meeting on 3 March 2011, new NMR shares to the value of A$300,000 have now been issued to Red Rock as a beneficiary of the transaction.

 

 

Enquiries:

 

Andrew Bell

0207 402 4580 or

07766 474849 

 

Red Rock Resources plc

Chairman

 

Sandra Spencer

0207 402 4580 or

07757 660 798 

Red Rock Resources plc

Public and Investor Relations

 

Peter Trevelyan-Clark/ Ben Jeynes

 

020 7444 0800

Religare Capital Markets

Nominated Adviser

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
 
 
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