Red Rock Resources plc
("Red Rock" or the "Company")
Partial sale of holding
29 December 2015
Red Rock Resources plc, the mining and exploration company with interests in gold and oil exploration announces, further to its announcements of 2 December 2015 and 10 December 2015 that it has partially disposed of its remaining investment in Star Striker Limited (ASX:SRT)("SRT"), formerly Resource Star Limited.
A total of 20,000,000 shares in SRT has been sold for net proceeds of AUD 313,517.03 (approximately £154,558), at an average price per share of c. AUD 1.567 cents.
Following the sale, the Company retains 13,035,134 shares in SRT, amounting to approximately 1.6% of the issued share capital, as well as 5,213,290 options exercisable up to 31st March 2016 at a price of AUD 0.004 per SRT share.
The disposed assets stood in the books of Red Rock as at 30th June 2015 at an audited value of AUD 140,000.
Andrew Bell, Chairman, states: "SRT is now an investment holding and not an associate, and following a further review we decided to redeploy the funds tied up in these assets into development of our activities elsewhere".
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital Stockbrokers Ltd
Christian Pickel 0203 128 8208 Media Relations MHP Communications
