REG - Red Rock Resources - Issue of Equity, Total Voting Rights

Red Rock ResourcesAnnouncement

14/12/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231214:nRSN7111Wa&default-theme=true

RNS Number : 7111W  Red Rock Resources plc  14 December 2023

Red Rock Resources PLC

("Red Rock" or the "Company")

Issue of Shares

 

14 December 2023

 

Red Rock Resources Plc, the natural resource exploration and development
company with interests in gold, copper, cobalt, lithium and other minerals,
announces that it has placed 666,666,667 new ordinary shares ("Placing
Shares") by a placing at 0.075 pence per share raising a total of £500,000
before expenses ("Placing"). The Placing was arranged by Clear Capital Markets
Limited.

 

The Placing proceeds will be applied to lithium production and export
operations in Zimbabwe, gold studies and development in Burkina Faso, costs of
accounting and audit, and other working capital purposes.

 

Red Rock CEO Andrew Bell comments: "We have been advised that release of the
arbitration award and payments under it in the DRC ought to be delayed to
after the election, now only one week away. While we had expected a conclusion
this week, the delay is sensible and prudent as any actions taken too close to
election day when suspicions run high can be open to misinterpretation. We
therefore resolved in an uncertain economic environment to strengthen our
balance sheet before year end by other means, accepting a funding offer, which
also enables us to continue driving forward our gold and lithium production
and pre-production activities in Africa."

 

Admission to Trading on AIM and Total Voting Rights

 

Application is being made for 666,666,667 new ordinary shares to be admitted
to trading on AIM, the admission of which it is expected on or around 21
December 2023.

 

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the Placing Shares, its issued ordinary share capital will
comprise 3,336,764,458 ordinary shares.

 

All of the ordinary shares have equal voting rights and none of the ordinary
shares are held in Treasury. The total number of voting rights in the Company
will therefore be 3,336,764,458. The above figure may be used by shareholders
as the denominator for the calculations to determine if they are required to
notify their interests in, or change to their interest in, the Company.

 

For further information, please contact:

Andrew Bell 0207 747
9990
Chairman 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

Bob Roberts 0203
8696081
Joint Broker Clear Capital Corporate Broking

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU, which is part of domestic UK law pursuant to the
Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed
in accordance with the Company's obligations under Article 17.

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFFTFTLVLIV