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Issue of Equity

11 Oct 2010 09:45

RNS Number : 1649U
Red Rock Resources plc
11 October 2010
 



RED ROCK RESOURCES PLC

Issue of Equity and Exercise of Options

Dated: 11 October 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 20,000,000 ordinary shares of 0.1 pence each ("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 6.0 pence per Share (the "Placing"). The proceeds of the subscription are £1,200,000 before expenses, conditional on the Shares being admitted to trading on AIM. The Company also announces that it has issued 1,007,143 new Shares (the "Issue") at a price of 2.1 pence per Share, in respect of an earlier received invoice where payment had been agreed to be in Shares, conditional on the Shares being admitted to trading on AIM.

 

Red Rock has been notified of the exercise of 150,000 options to subscribe for Shares in the Company at a price of 1.25 pence per share ("Exercise").

 

Following the Placing, the Issue, and the Exercise the Company's total issued ordinary share capital will be 675,544,383 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 15 October 2010.

 

The Company has been able by the Placing to increase the sum raised at the recent increased price level of 6.0 pence per Share to £1,800,000 since 28 September 2010. This will in the view of Directors enable Red Rock to continue its growth strategy and plan with greater confidence for the future.

 

For further information contact:

 

Regency Mines PLC Andrew Bell, Chairman 0207 402 4580

Sandra Spencer, Public and

Investor Relations 0207 402 4580

 

Nominated Adviser

Religare Capital Markets Peter Trevelyan-Clark/Ben Jeynes 020 7444 0800

 

Broker

Simple Investments Ltd Nick Emerson 01483 413500

 

 

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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