2nd Apr 2015 08:36
LONDON (Alliance News) - Red Rock Resources PLC Thursday said it has liquidated and full repaid its loan facilities with YA Global.
Red Rock said the facilities provided by YA Global consisted of a USD110,000 convertible loan and two term loans worth USD375,742 and USD50,000, respectively. The total repayment which has now been made was for USD652,952, or around GBP442,619.
In addition, Red Rock said MG Partners II Ltd has converted USD120,000 of its outstanding USD335,000 balance of unsecured convertible notes, which are due for repayment on January 1, 2016, into 121.7 million shares at the conversion price of GBP0.000665.
Red Rock shares were down 6.3% to 0.0843 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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