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RNS Number : 0010R Red Rock Resources plc 24 February 2023
24 February 2023
Red Rock Resources PLC
("Red Rock" or the "Company")
Share Issuance
Red Rock Resources Plc (LON:RRR), the natural resource development company
with interests in gold and base metals, principally in Africa and Australia,
announces that the subscriber under the funding agreement, the details of
which were announced to the market on 15 December 2022 (the "Subscription
Announcement"), has requested that the Company issue 26,753,616 ordinary
shares of £0.0001 each ( "Subscription Shares") to the subscriber at a price
of 0.25 pence per Subscription Share ("Purchase Price"). The Purchase Price
has been prepaid by the subscription announced in the Subscription
Announcement ("Initial Subscription").
The Purchase Price has been agreed by reference to the terms of the
Subscription Announcement, and following the issue of Subscription Shares
pursuant to the issue request, it has been agreed that the subscriber may
elect, when requesting an issue of further shares, for the same Purchase Price
to apply in respect of up to $274,000 of the Initial Subscription amount. In
addition, the Company has agreed to pay the subscriber a variation fee of
$78,000 within the next thirty days or, at its election, by way of an increase
in the Initial Subscription amount, in relation to a variation of the funding
agreement with the subscriber.
Admission to Trading on AIM and Total Voting Rights
The Company has applied for admission of the New Ordinary Shares, which will
rank pari passu with existing ordinary shares, to trading on AIM
("Admission"). Admission is expected on or around 2 March 2023.
Following Admission of the Subscription Shares, the Company's enlarged issued
share capital will comprise 1,367,900,839 ordinary shares with voting rights.
This figure of 1,367,900,839 ordinary shares may be used by shareholders in
the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company.
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
For further information please visit www.rrrplc.com (http://www.rrrplc.com/)
or 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
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