RED ROCK RESOURCES PLC — Share Issue/Capital Change 2015

Mar 25, 2015

National Storage Mechanism | Additional information

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RNS Number : 3678I

Red Rock Resources plc

25 March 2015

Red Rock Resources Plc

("Red Rock" or the "Company")

Convertible Note Conversion

25 March 2015

Red Rock announces that MG Partners II Ltd., which is an affiliate of Magna, has converted $200,000 of its outstanding balance of $535,000 unsecured Convertible Notes, which are due for repayment on 1 January 2016, into 200,000,000 ordinary shares of 0.01 pence each ("Conversion Shares") in the Company under the terms of the Convertible Note Instrument ("Convertible") as announced on 6 January 2015, at a price of £0.000666 per Conversion Share (the "Conversion").

This Conversion of 200,000,000 ordinary shares in the Company represents 4.7395% of the Company's enlarged ordinary issued share capital.

Following issue of the Conversion Shares, the Company's enlarged issued ordinary share capital will consist of 4,219,816,505 ordinary shares of 0.01p each. Application has been made to the London Stock Exchange for the Conversion Shares, which on Admission will 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 31 March 2015.

The above figure of 4,219,816,505 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.

Chairman Andrew Bell comments:

"Following discussions with Magna about outstanding loan conversion we are pleased to see them converting a significant part of their debt position to equity. They are taking on the risks and opportunities of equity and we are taking a further significant step towards our objective of eliminating liabilities from our balance sheet, following the placing last week."   

For further information contact:

Andrew Bell 0207 747 9990 or 0776 647 4849                             Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396         NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744                                                Broker Dowgate Capital Stockbrokers Ltd

Christian Pickel0203 128 8208                                                  Media Relations MHP Communications

This information is provided by RNS

The company news service from the London Stock Exchange

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