Business
Convertible Bond Conversion
Convertible Bond Conversion.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4461K Red Rock Resources plc 25 June 2014 \n \n\nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\nConvertible Bond Conversion\n25 June 2014\nRed Rock announces that YA Global Master SPV, Ltd. ('YA Global'), which is advised by Yorkville Advisors LLC ('Yorkville'), has converted £200,000 of its £550,000 unsecured Convertible Bonds, which are due for repayment in April 2015, into 75,386,355 ordinary shares of 0.1 pence each (\"Shares\") in the Company under the terms of the Convertible Bond Instrument (\"Convertible\") as announced on 30 April 2014, at a price of £0.002653 per Share (the \"Conversion\"). \n \nFollowing the Conversion, YA Global will hold 75,386,355 shares or 3.9% of the Company's total voting rights.\n \nAs announced on 30 April 2014, the proceeds of the Convertible Bond have been applied to debt reduction and to working capital purposes. \n \nFollowing the Conversion, the Company's total issued ordinary share capital will be 1,934,587,543 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 30 June 2014.\n \nThe above figure of 1,934,587,543 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure and Transparency Rules.\n \n \nFor further information contact: \n \nAndrew Bell 0207 747 9990 or 0776 647 4849 Chairman Red Rock Resources plc \nColin Aaronson / David Hignell 0207 383 5100 NOMAD Grant Thornton UK LLP \nNick Emerson 01483 413500 Broker SI Capital Ltd.\nSaif Janjua 0207 382 8416 &...