Red Emperor Resources NL Quarterly Activities and Cashflow Report (3360N)
29 January 2021 - 6:00PM
UK Regulatory
TIDMRMP
RNS Number : 3360N
Red Emperor Resources NL
29 January 2021
29 January 2021
Red Emperor Resources NL
Quarterly Activities and Cashflow Report
For the Period ended 31 December 2020
The Board of Red Emperor Resources NL (ASX/AIM: RMP) ("RMP",
"Red Emperor" or the "Company") provides the following commentary
on its activities and an Appendix 5B for the quarter ended 31
December 2020.
Corporate
During the quarter, Red Emperor continued to evaluate potential
deal opportunities, primarily in the global oil and gas sector.
While mainly focused on exploration projects, the Board have
continued to be very mindful of protecting the Company's balance
sheet and by extension, shareholder value.
There were also a number of potential projects considered during
the quarter in the wider natural resources sector outside of oil
and gas cognisant that pursuant to AIM Rule 15, the Company is
required to make an acquisition, or acquisitions, which
constitute(s) a reverse takeover under AIM Rule 14, or
alternatively seek re-admission to trading on AIM as an investing
company pursuant to AIM Rule 8 (either being a "Re-admission
Transaction"), either of which would require, inter alia, the
preparation and publication of an AIM admission document and a full
re-admission process. If a Re-admission Transaction is not
completed by 20 July 2021 admission to trading on AIM of the
Company's ordinary shares will be cancelled pursuant to AIM Rule
41.
The Company intends shortly to make an application to ASX in
respect of a proposed transaction under ASX Listing Rule 11.1.
Financial Commentary
The Quarterly Cashflow Report (Appendix 5B) for the period
ending 31 December 2020 provides an overview of the Company's
financial activities and can be viewed at the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3360N_1-2021-1-29.pdf
. The Company is in a strong financial position with A$4.23 million
in cash at the end of the quarter. This will be sufficient to fund
corporate costs well into 2021 and also facilitate the
identification, evaluation and potential acquisition of new
ventures and opportunities.
Payments for administration and corporate costs amounted to
A$169k and related to costs incurred in respect of and associated
with directors' fees, listing and compliance and consulting fees.
The aggregate amount of payments to related parties and their
associates included in the quarter's cash flows from operating
activities was approximately A$72.5k (please refer to Table 1
below).
For further information, please visit www.redemperorresources.com or contact :
Red Emperor Resources NL - Greg
Bandy +61 8 9212 0102
Strand Hanson Limited (Nominated +44 (0) 20 7409
Adviser) - James Harris 3494
+44 (0) 203 463
Brandon Hill Capital (UK Broker) 5010
708 Capital Pty Ltd (Australian +61 (0) 2 9112
Broker) 2500
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
Table 1 : Payments to Related Parties of the Entity and their
Associates
Directors' Remuneration
Managing Director's Fees and Superannuation 49,275 49,275
Non-Executive Director Fees and Superannuation 8,213 8,213
Company Secretarial and CFO Fees 15,000 15,000
------------------------------------------------------ -------- --------
Total payments to related parties of the entity and
their associates 72,488 72,488
------------------------------------------------------ -------- --------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCBLMFTMTITMAB
(END) Dow Jones Newswires
January 29, 2021 02:00 ET (07:00 GMT)
Red Emperor Resources Nl (LSE:RMP)
Historical Stock Chart
From Apr 2024 to May 2024
Red Emperor Resources Nl (LSE:RMP)
Historical Stock Chart
From May 2023 to May 2024