Red Rock Resources plc Completion of Purchase and Issue of Shares

RNS Number : 0576T

Red Rock Resources plc

19 June 2024

 

Red Rock Resources PLC

("Red Rock" or the "Company")

Completion of Purchase

Issue of Shares and other Consideration, Total Voting Rights

 

19 June 2024

 

Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia, announces, further to the announcement of 12^th June 2024, that it has fulfilled the Completion obligations under the Agreement to take 100% ownership of its Australian Gold Subsidiary, New Ballarat Gold Corporation Plc ("NBGC") and its subsidiary  Red Rock Australasia Pty Ltd ("RRAL").

 

The Company has issued 166,666,667 new Ordinary Shares ("Shares") in Red Rock to Power Metal Resources PLC ("POW")as well as a £250,000 Convertible Loan Note and 100,000,000 Warrants exercisable into new Ordinary Shares for 3 years at a price of 0.15 pence per Share.

 

Red Rock CEO Andrew Bell comments: "With Red Rock Australasia Pty Ltd now a wholly owned subsidiary, new exploration activities in the east of our licences at Kilmore are already being planned, across the boundary from Southern Cross Gold's exploration at Sunday Creek."  

 

Admission to Trading on AIM and Total Voting Rights

 

Application is being made for 166,666,667 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 25^th June 2024.

 

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 4,305,645,478 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 4,305,645,478. 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

Bob Roberts 0203 8696081                                                        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.

 

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END

 

 

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