29th Dec 2015 18:08
LONDON (Alliance News) - Red Rock Resources PLC on Tuesday said it has partially sold its remaining investment in Star Striker Ltd.
20 million shares were sold at AUD1.567 cents each, making a total of AUS313,517.03. Following the sale, the mining and exploration company retains 13 million shares in Star Striker, amounting to 1.6% of its issued share capital, as well as 5.2 million options exercisable at AUD0.004 per share up until the end of March 2016.
"SRT is now an investment holding and not an associate, and following a further review we decided to redeploy the funds tied up in these assets into development of our activities elsewhere," Chairman Andrew Bell said in a statement.
Earlier this month, Red Rock sold 32.3 million shares in SRT.
Shares in Red Rock closed up 22.4% at 0.520 pence on Tuesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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