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RRR - Red Rock Resources News Story

0.9p 0.0  0.0%

Last Trade - 14/05/21

Sector
Basic Materials
Size
Micro Cap
Market Cap £10.7m
Enterprise Value £10.8m
Revenue £n/a
Position in Universe 1598th / 1826

Red Rock Resources - Unaudited half-yearly results period ended 31 Dec - Part 2

Thu 31st March, 2016 7:00am
- Part 2: For the preceding part double click  ID:nRSe6182Ta 

              -                               -                       -                          -           
 At 31 December 2015          -                             (34,607)                        (28,649)                -                          (63,256)    
 Net book value                                                                                                                                            
 At 31 December 2015          -                             -                               -                       -                          -           
                                                                                                                                                             
 
 
 7  Available for sale financial assets  
                                         31 December 2015£  31 December 2014£    
    At 1 July 2015                       1,331,766          1,583,984            
    Additions                            275,000            -                    
    Disposals                            -                  (10,070)             
    Revaluation adjustment               -                  (161,826)            
    Impairment                           -                  -                    
    At 31 December 2015                  1,606,766          1,412,088            
 
 
Half-yearly report notes 
 
for the period ended 31 December 2015, continued 
 
 8  Share Capital of the company  
 
 
Share Capital of the company 
 
                                                    Number           Nominal £  
                                                                                
   Allotted and fully paid during the period                                    
   As at 30 June 2015                               4,662,024,541    2,600,207  
                                                                                
   Issued 10 July 2015 at 0.475 pence per share     797,368,443      79,737     
   Issued 13 July 2015 at 0.475 pence per share     157,864,800      15,789     
   Issued 09 October 2015 at 0.183 pence per share  416,573,115      41,657     
                                                                                
   As at 31 December 2015                           6,033,830,899    2,737,391  
                                                                                
 
 
 9  Capital Management                                                                                                                                                                                                                                              
    Management controls the capital of the Group in order to control risks, provide the shareholders with adequate returns and ensure that the Group can fund its operations and continue as a going concern.The Group's debt and capital includes ordinary share   
    capital and financial liabilities, supported by financial assets.There are no externally imposed capital requirements.Management effectively manages the Group's capital by assessing the Group's financial risks and adjusting its capital structure in        
    response to changes in these risks and in the market. These responses include the management of debt levels, distributions to shareholders and share issues.There have been no changes in the strategy adopted by management to control the capital of the Group 
    since the prior period.                                                                                                                                                                                                                                         
 
 
10     Subsequent events 
 
·      On 20 January 2016, the company acquired a 20% Working Interest in the
Lutcher More 20 well at the Shoats Creek Field, Beauregard Parish, Louisiana,
for a consideration of US$200,000, of which US$120,000 was paid and $80,000 is
to be paid under a 4.5% promissory note in equal monthly instalments between
July 2016 and December 2018. 
 
·      In the course of January 2016 the company sold the remaining 13,055,134
shares held in Star Striker Ltd (ASX:SRT), as well as 500,000 options, for a
consideration of AUD 295,432. 
 
·      On 29 January 2016, the company granted 13,320,000 employee options
exercisable at 0.45p per share for a period of six years, and vesting in four
equal tranches, one immediately, and the other three after 6, 12 and 18 months
respectively and subject to performance conditions. The grants other than
those to non-executive directors were made under the company's Enterprise
Management Incentive scheme. 
 
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 0129 351 7744                                                 
        Broker Dowgate Capital Stockbrokers Ltd 
 
This information is provided by RNS
The company news service from the London Stock Exchange
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