- Red Rock Resources' shareholders have approved the proposed capital reorganisation at the annual general meeting today.

Each of the existing 6,033,861,125 issued ordinary shares will be subdivided into one A deferred share and one new ordinary share of 0.0004p each. Furthermore, every 25 ordinary shares will be consolidated into one new ordinary share and accordingly the company will have 241,354,445 new ordinary shares in issue.

The company said all resolutions were passed at the meeting with the exception of the proposal to reappoint James Ladner as a director following his retirement by rotation as Ladner withdrew himself from consideration before the AGM and retires.

Chairman Andrew Bell said: "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."

At 3:09pm: [LON:RRR] Red Rock Resources PLC share price was -0p at 0.01p

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