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Red Rock Resources PLC - London-based natural resource development company with interests in Africa and Australia - Issues £623,000 worth of convertible notes with accompanying warrants to high net worth investors. Says £367,000 of subscriptions for the notes were new subscriptions, and £256,000 were conversions of debt facilities. The notes are convertible into ordinary shares at a price of 0.6 pence each.
‘Subscribers to this issue of notes, which was carried out during weak markets at a premium to the market price, included both holders of debt and long-term equity investors, and the arrangement fee of 6% was paid in notes. This pricing reflects the confidence of our investors in Red Rock's prospects,’ Chair Andrew Bell says.
Current stock price: 0.52 pence, down 6.4% on Monday
12-month change: down 29%
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