Red Rock Resources plc Issue of Equity (8656W)
24 April 2019 - 3:25AM
UK Regulatory
TIDMRRR
RNS Number : 8656W
Red Rock Resources plc
23 April 2019
Red Rock Resources PLC
("Red Rock" or the "Company")
Issue of Equity
Total Voting Rights
23 April 2019
Red Rock Resources Plc announces that it has raised GBP323,750
by way of a placing of 63,480,391 new ordinary shares of 0.01 pence
each ("Shares") in the Company at a price of 0.51p per Share with 1
for 2 warrants exercisable at a price of 0.75 pence per Share for
twenty-four months ("April 2021 Warrants")(together the
"Placing").
Andrew Bell, Chairman, comments: "The Placing ensures that the
Company can manage its cash flow prudently while driving an
increased tempo of exploration in the Congo as the scale of the
opportunity there becomes more apparent.
Over the next few months, we expect a bunching of receipts from
share and asset sales, loan repayments, and dividend and royalty
receipts, while half the Jupiter Mines shareholding comes out of
the voluntary escrow to which we agreed at the time of relisting,
so that the medium term picture is likely to be one of increasing
liquidity."
Further Information and Additional Terms
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 30 April 2019.
Total Voting Rights (TVR)
Following the issue of the 63,480,391 new Ordinary Shares, the
issued share capital of the Company consists of 676,049,662
ordinary shares of 0.01p each with voting rights. No Ordinary
Shares are held in Treasury.
The above figure of 676,049,662 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 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.
END
IOESELFWDFUSEEL
(END) Dow Jones Newswires
April 23, 2019 13:25 ET (17:25 GMT)
Red Rock Resources (LSE:RRR)
Historical Stock Chart
From Apr 2024 to May 2024
Red Rock Resources (LSE:RRR)
Historical Stock Chart
From May 2023 to May 2024