Business
Jupiter - buy back completed, prospectus published
Jupiter - buy back completed, prospectus published.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2114I Red Rock Resources plc 19 March 2018 \n\nRed Rock Resources plc\n \n(\"Red Rock \" or the \"Company\")\n \nJupiter Mines - Completion of Buy-Back, Publication of Prospectus\n \n19 March 2018\n \nCompletion of Jupiter Buy-Back\n \nFurther to the announcement of 22 January 2018, Jupiter Mines Limited (\"Jupiter\"), an Australian unlisted public company, has announced the completion of the AUD 51,000,000 equal access share buy back.\n \nAcceptances were received in respect of 96.86% of shares subject to the buy back offer. Jupiter now has 1,948,340,503 shares in issue.\n \nRed Rock has received USD 501,410.36, equivalent to approximately £357,786 at current exchange rates.\n \nThis distribution follows distributions by Jupiter to Red Rock of £537,131 on 13 March 2017 and approximately £233,606 on 16 November 2017.\n \nThe full Jupiter announcement, which may also be read on its website www.jupitermines.com, reads:\n \n\"COMPLETION OF A$51M SHARE BUY-BACK\n \nJupiter Mines Limited (\"Jupiter\" or \"Company\") announces the completion of the\nequal access share buy-back which commenced on 29 January 2018.\n \nThe buy-back was once again well received, with a total of 116,182,215 shares bought\nback by the Company, representing an acceptance level of 96.86%. The Company now has 1,948,340,503 shares on issue.\n \nWith the completion of this buy-back, Jupiter has returned approx. A$150m to its\nShareholders since FY2017, equating to an approximate 10% yield. The manganese price over this period has averaged US$4.55/dmtu (37% FOB Port Elizabeth).\n \nWith manganese prices robust, and should they hold, the likelihood of the next six\nmonthly distribution is enhanced.\"\n \nPost the distribution, the Company holds 23,224,914 shares in Jupiter, equivalent to approximately 1.2% of the issued share capital.\n \n \nPlanned Jupiter IPO and Listing on the Australian Stock Exchange\n \nJupiter has announced the lodgement of a Prospectus with the Australian Securities and Investment Commission, preparatory to Jupiter being relisted on the Australian Stock Exchange. \n \nThe Offer under the Prospectus is for up to 600 million Jupiter shares at AUD 0.40 per share to raise up to AUD 240,000,000 before costs for the sellin...