Business
Placement of Shares and Ivory Coast Update
Placement of Shares and Ivory Coast Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0493S Red Rock Resources plc 18 September 2014 \n \n\nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\nPlacement of Shares and Ivory Coast Update\n18 September 2014\nRed Rock Resources plc, the mining and exploration company with gold interests in Colombia, Kenya, and Ivory Coast is pleased to announce that it has raised £167,325 by way of an issue of 76,056,779 new ordinary shares of 0.1 pence each (\"Shares\") in the Company with institutional and private investors, at a price of £0.0022 per share (the \"Placing\"), and an update to its exploration work in Ivory Coast. \n \nPlacement of Shares\n \nOf the total Shares being issued under the Placing, 18,665,628 shares will be Shares arising from the issue and immediate conversion of 18,665,628 Convertible Placing Shares in the Company. The remainder are a direct issue of Shares. \n \nMathew D Walker, a Director of Resource Star Limited (ASX:RSL) has subscribed for 63,636,363 shares in the Placing. The proceeds of the Placing will be used towards the development of the Company's gold exploration projects in Ivory Coast and for working capital purposes.\n \nApplication has been made to the London Stock Exchange for the new 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 25 September 2014.\n \nFollowing the Placing, the Company's total issued ordinary share capital will consist of 2,208,008,225 Ordinary Shares with voting rights. No Ordinary Shares are held in treasury. \n \nThe above figure of 2,208,008,225 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 FCA's Disclosure and Transparency Rules.\n \nIvory Coast Update\n \nHighlights\n· Rights to three gold exploration licences acquired in the Ivory Coast\n· Additional four pending exploration permits included\n· All licences within West Africa's highly prospective Birimian and Tarkwaian Greenstone rocks\n· Licenses also contain potential for manganese deposits\nFurther to the announcement of 4...