RED ROCK RESOURCES PLC — Share Issue/Capital Change 2013

May 13, 2013

National Storage Mechanism | Additional information

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RNS Number : 5012E

Red Rock Resources plc

13 May 2013

Red Rock Resources Plc

("Red Rock" or the "Company")

Placement of Shares

13 May 2013

Red Rock announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC ('Yorkville'), has subscribed for 37,369,007 ordinary shares of 0.1 pence each ("Shares") in the Company under the terms of the Standby Equity Distribution Agreement ("SEDA") between Red Rock and YA Global as announced on 14 December 2010, at a price of £0.003859 per Share.  Additionally a separate investor has subscribed for 2,971,754 Shares of 0.1 pence at a price of £0.003859 per Share (together the "Subscription")   

The gross proceeds of the Subscription are £155,675, conditional on the Shares being admitted to trading on AIM.

The proceeds of the Subscription are being applied towards reducing the Company's loan with YA Global Master SPV Ltd, as announced 2 March 2011, as well as for additional debt reduction. 

Application has been made to the London Stock Exchange for the 40,340,761 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 16 May 2013.

Following the Subscription, the Company's total issued ordinary share capital will be 1,279,769,102 ordinary shares of 0.1p.

For further information contact:

Andrew Bell020 7402 4580 or 07766 474849                     Chairman Red Rock Resources plc

Sandra Spencer 020 7402 4580 or 07757 660 798             Investor Relations Red Rock Resources plc

Gerry Beaney / Daniela Amihood 020 7383 5100           NOMAD Grant Thornton Corp Finance

Nick Emerson 01483 413500                                             Broker Simple Investments Ltd

This information is provided by RNS

The company news service from the London Stock Exchange

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