Business
Placing and Investment in Jupiter Mines Shares
Placing and Investment in Jupiter Mines Shares.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5956U Red Rock Resources plc 03 December 2013 \n \n\nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\nPlacing and Investment in Jupiter Mines Shares\n3 December 2013\nRed Rock announces that it has completed its placing, first announced on 14 November 2013, with Cornhill Capital Ltd. ('Cornhill'), for 45,000,000 ordinary shares of 0.1 pence each (\"Shares\") in the Company by a long-term investor (the \"Investor\") at a price of 0.66p per Share (the \"Subscription\"). The gross proceeds of the Subscription are £297,000. \n \nThe proceeds of the Subscription are being applied towards the purchase from the Investor of 8,000,000 shares in Jupiter Mines Ltd (ASX:JMS)(\"Jupiter\") at a price of AUD 0.056 per Jupiter share and a total cost of AUD 448,000 (£249,480 approximately). \n \nFollowing the Subscription the Company's holding in Jupiter will be 27,674,375 Jupiter shares (1.21%) currently worth AUD 1.88 million. Red Rock retains a 0.75% gross revenue royalty over Jupiter's Mt Ida project, and non-manganese mineral rights over a further Jupiter tenement. \n \nFollowing the Subscription, the Company's total issued ordinary share capital will be 1,450,570,545 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 9 December 2013.\n \nCompany Chairman Andrew Bell comments:\n \n\"We are pleased to add more of a high quality asset such as Jupiter Mines, a company we have long been familiar with and excited about, to our balance sheet.\" \n \n \nFor further information contact: \n \nAndrew Bell0207 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 &...