Last checked at 14 Sep 2010 10:32
RED ROCK RESOURCES PLC
Issue of Equity
Dated: 14 September 2010
Red Rock Resources plc ("Red Rock" or the "Company") announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC, has subscribed for 11,114,689 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, announced on 1 May 2009, at a price of 2.25 pence per Share. The proceeds of the subscription are £250,000 before expenses, conditional on the Shares being admitted to trading on AIM. At the same time the Company has placed 3,200,000 Shares at a price of 2.25 pence per Share, for proceeds of £57,000 before expenses, conditional on the Shares being admitted to trading on AIM. The proceeds of the subscription and placing will be applied towards a further drawdown by Mineras Four Points SA under the Funding and Co-operation Agreement announced on 10 June 2010.
Following the issue of the Shares the Company's total issued ordinary share capital will be 641,988,780 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the 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 20 September 2010.
Enquiries:
| Andrew Bell | 0207 402 4580 or 07766 474849 | Red Rock Resources plc | Chairman
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| Sandra Spencer | 0207 402 4580 or 07757 660 798 | Red Rock Resources plc | Public and Investor Relations | ||
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| Peter Trevelyan-Clark/ Ben Jeynes | 020 7444 0800 | Religare Capital Markets | Nominated Adviser | ||
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| Nick Emerson | 01483 413500 | Simple Investments Ltd | Broker | ||
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Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.