Red Rock Resources plc
('Red Rock' or the 'Company')
Result of AGM, Board Change, Capital Re-Organisation and TVR
21 December 2015
Result of AGM and Board Change
The Company announces that at its Annual General Meeting ('AGM'), which was held earlier today, all resolutions with exception of Resolution 2, which was withdrawn prior to the AGM, were duly passed.
Resolution 2, for the reappointment, following his retirement by rotation, of Mr James Ladner as a director of the Company was not put to the meeting. Mr Ladner withdrew himself from consideration before the AGM and therefore retires.
Mr Andrew Bell, Chairman, states: 'We are very grateful to James Ladner for his service. His wise counsel and support in challenging times have been invaluable. Over 99% of proxies were cast in favour of his re-election, but a smaller Company cannot justify the costs of a board of the former size, and his decision to stand down is a gesture that is appreciated.'
Capital Re-Organisation
Further to Resolution 7, 8 and 10 being passed, with effect from 23.58 hours today, being the date of the passing of those Resolutions, each of the existing 6,033,861,125 issued ordinary shares of 0.01p each in the capital of the Company ('Existing Ordinary Shares') will be subdivided into one A deferred share of 0.0096p each ('A Deferred Shares') and one new ordinary share of 0.0004p each.
Furthermore, every twenty-five ordinary shares of 0.0004p each in the capital of the Company will be consolidated into one new ordinary share of 0.01p each ('New Ordinary Shares') and accordingly the Company will have 241,354,445 New Ordinary Shares in issue. Application has been made for the New Ordinary Shares to be admitted to trading on AIM ('Admission'), and Admission is expected to take place on 22 December 2014.
The New Ordinary Shares will have the same rights and be subject to the same restrictions (save as to nominal value) as the Existing Ordinary Shares in the Company's Articles of Association and the A Deferred Shares will have the rights and be subject to the restrictions attached to A Deferred Shares as set out in the Articles of Association.
The ISIN will change to GB00BYWKBU38.
Total Voting Rights ('TVR')
Following the capital re-organisation as from Admission the Company's issued share capital will consist of 241,354,445 ordinary shares of 0.01p each with voting rights ('Ordinary Shares') and 2,371,116,172 deferred shares of 0.09p each and 6,033,861,125 A Deferred Shares of 0.0096p each. As the deferred shares and A Deferred Shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company and no Ordinary Shares are held in treasury, therefore the total number of Ordinary Shares in the Company with voting rights is 241,354,445.
The above figure of 241,354,445 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.
For further information, please contact:
Andrew Bell0207 747 9990 ChairmanRed Rock Resources Plc
Scott Kaintz0207 747 9990 DirectorRed Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams0207 628 3396 NOMADBeaumont Cornish Limited
Jason Robertson0129 351 7744 BrokerDowgate Capital Stockbrokers Ltd
Christian Pickel0203 128 8208 Media RelationsMHP Communications