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Issue of Equity

14th Apr 2011 15:22

RNS Number : 9441E
Red Rock Resources plc
14 April 2011
 



RED ROCK RESOURCES PLC

Issue of Equity

Dated: 14 April 2011

 

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 5,632,274 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") under the terms of the Standby Equity Distribution Agreement ("SEDA") between Red Rock and YA Global, at a price of 10.6528892 pence per Share (the "Subscription"). The proceeds of the Subscription are £600,000 before expenses, conditional on the Shares being admitted to trading on AIM.

 

Following the Subscription the Company's total issued ordinary share capital will be 694,006,109 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the new Ordinary 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 20 April 2011.

 

Enquiries:

 

Red Rock Resources plc

Andrew Bell, Chairman 020 7402 4580/07766 474849

Sandra Spencer, Public and Investor Relations 020 7402 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
 
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