REG - Red Rock Resources - Notice of GM

Red Rock ResourcesAnnouncement

23/11/2022 15:00

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RNS Number : 3970H  Red Rock Resources plc  23 November 2022

Red Rock Resources Plc

("Red Rock" or the "Company")

 

Notice of General Meeting

 

 

23 November 2022

 

Red Rock Resources Plc, the natural resource development company, with
interests in gold, copper, cobalt and other minerals, announces that a Notice
of General Meeting ("GM"), will be published and posted today to the Company's
shareholders, except for those shareholders, who have elected to receive
documents in electronic form and who will have received an e-mail
notification.

 

Andrew Bell, Chairman of Red Rock, states:

"The Company is at an important juncture, as it awaits the signing of the
arbitral award in the Democratic Republic of Congo, where it seeks from the
buyer of certain assets partially owned by the Company, $7.5m of the
consideration due to be paid. The Company separately seeks the enforcement of
its existing judgment for $2.5m against its former partner in respect of that
portion of consideration already paid.

We have reason for confidence in the arbitration, and believe that payment of
the award will be duly made once the judgment is given. However, the delays in
issuing the award, though in part unavoidable, mean that time has passed and
we must now show our stakeholders how we would provide the working capital
necessary to keep the forward momentum of the Company were there to be further
delay or were these amounts not to be received.

Accordingly, Resolutions will be proposed at the forthcoming General Meeting
to provide authorities to the Directors under Section 551 and 569 of the
Companies Act 2006.  Passage of the resolutions is, in the view of the Board,
necessary and desirable so that the Company  can demonstrate that its future
cashflow needs will be met irrespective of the outcome in the Congo, given
that payment of any award is not likely to be immediate".

The GM is to be held at the Company's business address, We Work, 71-91 Aldwych
House, London, WC2B 4HN on Thursday 8 December 2022, at 12:00 noon.

 

Shareholders are strongly encouraged to submit their proxy vote, appointing
the Chairman of the meeting as their proxy in advance of the meeting to ensure
that their votes are registered.

 

A copy of the Notice of GM, Form of Proxy, and other materials is available on
the Company's website at www.rrrplc.com (http://www.rrrplc.com)

 

 

 

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

Thomas Smith 0207 392 1568
 
Joint Broker OvalX

 

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