Red Rock Resources plc Issue of Equity, Directors' Dealings and TVR (1401A)
22 December 2017 - 3:59AM
UK Regulatory
TIDMRRR
RNS Number : 1401A
Red Rock Resources plc
21 December 2017
Red Rock Resources PLC
("Red Rock" or the "Company")
Issue of Equity and Director's Dealing
Total Voting Rights
21 December 2017
Red Rock Resources Plc announces that it has raised GBP125,000
by way of a placing of 15,625,000 new ordinary shares of 0.01 pence
each ("Shares") in the Company at a price of 0.80p per Share with 1
for 2 warrants exercisable at a price of 1.6 pence per Share for
twenty-four months ("December 2019 Warrants")(together the
"Placing").
9,375,000 Shares were subscribed by First Equity Limited, and
6,250,000 Shares were subscribed by Andrew Bell, a director of the
Company.
The table below sets out the total shareholding and interests of
Mr Bell in the share capital of the Company:
Ordinary Shares Total % of Enlarged Options Warrants
Shares Issued
Share
Capital
----------- ------------------------ ----------- -------------- ----------- ----------
Directors Direct Indirect*
----------- ----------- ----------- ----------- -------------- ----------- ----------
Andrew R
M Bell 13,444,984 23,776,007 37,220,991 7.46% 17,760,000 7,886,904
----------- ----------- ----------- ----------- -------------- ----------- ----------
Andrew Bell holds 5,428,480 shares indirectly held by the Share
Incentive Plan Trustees. In addition, Andrew Bell indirectly holds
5,600 shares through Beaufort Securities Nominees Limited and
11,330,834 shares in the account of Alliance Trust Nominees Limited
and 7,011,093 shares in the account of Rock (Nominees) Limited and
13,444,984 shares directly and jointly with Stephanie Bell.
Andrew Bell, Chairman, comments: "We know some subscribers were
not able to participate in the recent convertible loan stock
instrument but would have been interested in the opportunity of a
share placing. We are glad to be able to give them the chance to
subscribe through this Placing. We end our interim period to 31
December with sufficient liquid assets on our balance sheet to face
2018 with confidence. We thank all subscribers to the recent
convertible loan stock, and to this Placing, for their support for
the Company."
Further Information and Additional Terms
The December 2019 Warrants are subject to call at seven days'
notice should the closing price of the Shares exceed 5 pence for
ten consecutive days.
The Placing is conditional on admission of the Shares to trading
on AIM ("Admission").
Application has been made to the London Stock Exchange for
Admission of the Shares, which will rank pari passu with the
Company's existing issued Ordinary Shares. Dealings are expected to
commence at 8.00 a.m. on or around 10(th) January 2017.
Total Voting Rights (TVR)
Following the issue of the 15,625,000 new Ordinary Shares, the
issued share capital of the Company consists of 499,042,740
ordinary shares of 0.01p each with voting rights. No Ordinary
Shares are held in Treasury.
The above figure of 499,042,740 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in the Company under the Disclosure and Transparency
Rules.
Note: Market soundings, as defined in the Market Abuse
Regulation ("MAR"), were taken in respect of the Placing with the
result that certain persons became aware of inside information, as
permitted by MAR. That inside information is set out in this
announcement and has been disclosed as soon as possible in
accordance with paragraph 7 of article 17 of MAR. Therefore, those
persons that received inside information in a market sounding are
no longer in possession of inside information relating to the
Company and its securities.
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0207 374 2212 Broker First Equity Limited
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKDDPABDDOBB
(END) Dow Jones Newswires
December 21, 2017 11:59 ET (16:59 GMT)
Red Rock Resources (LSE:RRR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Red Rock Resources (LSE:RRR)
Historical Stock Chart
From Apr 2023 to Apr 2024