23rd Apr 2015 16:19
LONDON (Alliance News) - Red Rock Resources PLC Thursday said that an affiliate of Magna has converted its outstanding balance of USD115,000 of unsecured loan notes and interest on the notes into 118.2 million shares in the company at GBP0.0006837 per share.
The shares will represent 2.5% of the company's total number of shares.
"We are happy to announce that the convertible debt facility with Magna has now been fully retired. Red Rock has now cleared all of its corporate debt and convertibles over the course of the last month," Chairman Andrew Bell said in a statement.
Red Rock shares closed down 11.8% at 0.0750p on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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