Last checked at 23 Feb 2012 10:44
RED ROCK RESOURCES PLC
("Red Rock" or the "Company")
Issue of Equity
Dated: 23 February 2012
Red Rock announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 27,215,148 new 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, at a price of 2.689 pence per Share (the "Subscription"). The proceeds of the Subscription are £731,851, conditional on the Shares being admitted to trading on AIM.
The net proceeds of the Subscription are being applied to repayment of loans and on-going working capital requirements.
Following the Subscription, the Company's total issued ordinary share capital will be 811,410,417 ordinary shares of 0.1p. Application will be 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 or around 29 February 2012.
Enquiries:
Andrew Bell | 020 7099 5840 or 07766 474849
| Red Rock Resources plc | Chairman
|
Sandra Spencer | 020 7099 5840 or 07757 660 798
| Red Rock Resources plc | Public and Investor Relations |
Philip Davies/David Porter | 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.