TIDMAST
RNS Number : 0252S
Ascent Resources PLC
28 September 2017
28 September 2017
Ascent Resources plc
("Ascent" or the "Company")
Interim results for the period ended 30 June 2017
Ascent Resources plc, the AIM quoted European oil and gas
exploration and production company is pleased to report its interim
results for the six months ended 30 June 2017.
Highlights:
-- Recompletion and flow testing of well Pg-10.
-- Construction of the new pipeline connection at MRS Lendava
(land acquired by Ascent from Trameta in July 2016) required to
export gas production to Croatia.
-- Refurbishment of separation equipment at the existing CPP (a
gas separation facility) owned and operated by our partner Petrol
Geoterm.
-- Raised GBP2,988,000 through a successful Placing on the
PrimaryBid platform which allowed private and other investors the
opportunity to participate on equal terms.
-- Reduction in debt of almost GBP6 million through loan note conversions.
Post Period Highlights:
-- Recompletion of well Pg-11A
-- Company poised to commence supplying gas to INA
-- Further loan note conversions of GBP2.3 million which has
virtually eliminated convertible loan notes from the balance sheet,
debt down to less than GBP50K.
Colin Hutchinson, CEO of Ascent, commented:
"2017 has been a transformational year for the Company and
probably the most successful in its history. We have begun selling
gas, reported revenues for the first time since 2013 and are now
virtually debt free. The Company is now in a strong position to
look to expand our operations into new territories and face the
future with increased optimism."
Enquiries:
Ascent Resources plc
Clive Carver, Chairman
Colin Hutchinson, CEO 0207 251 4905
WH Ireland Limited
James Joyce / Alex Bond 0207 220 1666
Yellow Jersey
Tim Thompson
Harriet Jackson
Henry Wilkinson 0203 735 8825
Chairman's statement
The period under review and subsequently has been probably the
most successful in the Company's history.
We achieved first gas selling to local customers from our Pg-10
well in April 2017.
During the first half of the year we refurbished infrastructure
and installed pipeline connections to facilitate the export of gas
to Croatia under the gas sales agreement signed in July 2016.
Following recompletion work we brought on stream our second well
Pg-11A in September 2017.
We are now poised to commence supplying gas to INA and are
waiting only on a final approval from one of the Croatian
ministries.
Additionally, over the past 18 months we have dramatically
improved our balance sheet via conversion of almost GBP12 million
of loan notes leaving less than GBP50,000 of outstanding
convertible debt.
The impact of the above successes has been to transform the
company from a pre-income explorer into a cash positive producer,
which has inevitably led to a rerating of our shares.
The future
In the coming months, we look forward to updating the market
with news of the IPPC permit, which is again with the Slovenian
Administrative Court. We await yet further confirmation from the
Slovenian regulatory system that all is fine with our plans for the
Petišovci gas field. We also note that it is only the refusal by a
single environmental protestor to accept the several previous
regulatory rulings that is delaying the progress of the project to
the detriment of the Slovenian state. In the meantime, we will
intend to sell our untreated gas to INA in Croatia.
Our successes now allow us to consider both the future
development of both the Petišovci gas field and investments in
other projects from a position of strength compared to previous
periods.
We again thank our shareholders and partners for their continued
support.
Clive Carver
Non-executive Chairman
CEO's report
The first half of the year saw Ascent Resources move from an
exploration company to a production company after ten years of
operation in Slovenia. Bringing Pg-10 and then Pg-11A into
production were momentous events. We have also completed the
necessary infrastructure refurbishment at the CPP and work on the
export pipeline; and we now look forward to the imminent
commencement of export sales.
During the period under review and subsequently there have been
a series of significant developments:
Recompletion of well Pg-10
In January 2017, we finalised the recompletion work on the first
of two wells, Pg-10, and perforated the production tubing at a
depth of 3,102 metres. The well was subsequently tested and a
maximum stabilised flow rate of 249,000 cubic metres (8.8MMscfd)
was achieved on a 12mm choke. The well was subsequently shut in
while it was connected to infrastructure.
Recompletion of well Pg-11A
The workover at Pg-11A started in April 2017 and was completed
in August 2017. The work consisted of an operation to remove and
replace a section of the production tubing and install production
well head equipment. The operation took longer than anticipated
after a wireline tool became stuck in the tubing during the final
procedures to remove the bottom hole plug. We commenced the sale of
gas from Pg-11A in September 2017.
Construction of flow lines
The 500metre flowline between well Pg-10 and the existing
separating station (CPP) which is owned by our partner Petrol
Geoterm, was laid during January 2017 and connected to well Pg-10
once the flow test had been completed in March 2017.
The 40metre flowline between well Pg-11A and the production line
which runs to the CPP was completed during June 2017 and connected
to well Pg-11A once the workover had been completed.
Refurbishment of the CPP
In order to produce gas for export it was necessary to refurbish
certain infrastructure in the CPP. The main work involved
installing a replacement separator, sufficient for the increased
pressures and flow rates expected on the export line. This work was
completed in July 2017 and the replacement separator is capable of
processing 240,000 cubic metres per day (8.5MMscfd).
Connection and certification of the export pipeline
The 8" export line which runs from the land at MRS Lendava owned
by our 100% owned subsidiary, Trameta, to the field operated by INA
at Medjimurje in Croatia was pressure tested and certificated by
the Slovenian authorities in November 2016.
The 6" production pipeline which runs from the CPP past MRS
Lendava was refurbished and recertified during the period under
review. At the same time, the surface infrastructure required to
clean and maintain the pipeline was installed at MRS Lendava.
Following the work on the production pipeline, the connection
between the two lines was installed and tested and an operational
certificate issued by the Slovenian authorities.
Finally, in July 2017, the Croatian authorities reviewed the
application from our partner, INA, to recertify the pipeline on
their side of the border, which INA have advised they expect to
receive imminently.
Once operational, the export pipeline could accommodate daily
production of over 800,000 cubic metres per day (28MMscfd).
Commencement of production
In April 2017, the Joint Venture commenced production from well
Pg-10 which was sold locally to industrial customers after
separation at the CPP. The revenues for the period to 30 June 2017
were EUR180,644 (GBP154,000). In total 1,113,217 cubic metres
(39,313Mcf) of gas and 24,992 litres (157 barrels) of condensate
were sold during the period. Average daily production for the
period was 84boepd.
Whilst the volumes and revenues are modest in the context of our
long-term plans for the project, commencing production after ten
years of operations in Slovenia was a hugely significant
milestone.
Supply under the INA contract is expected to commence shortly,
once the final Croatian ministerial approval has been received.
The terms of the INA contract set an upper and lower limit on
production calculated in megawatt hours (MwH). For the first two
months, these translate into a range of 58,182 to 77,577 cubic
metres per day; which based on the average rates over the last
twelve months would generate revenue to Ascent of between
EUR220,000 and EUR290,000 per month. In the subsequent ten months
of the contract the range is 63,031 to 82,425 cubic metres per day;
which based on the average rates over the last twelve months would
generate revenue to Ascent of between EUR240,000 and EUR310,000 per
month. Production at these levels, and average rates remaining
reasonably stable over the period, will make the Company profitable
at an EBITDA level and generate positive operating cash flow.
The contract provides for the maximum level to be increased
following the agreement of both parties and the infrastructure has
been constructed and refurbished in such a way as to allow for
production to be increased.
Financial performance
The financial highlights for the period are the reporting of
revenues for the first time since 2013 and the significant
reduction of debt which has reduced to less than GBP50,000 since
the end of the period.
-- Revenues for the period of GBP154,000 were wholly derived
from hydrocarbon sales in Slovenia as discussed above.
-- An additional charge of GBP115,000 was made to cost of sales
bring the gross margin to zero as production during the period is
considered 'test' production.
-- The loss from operating activities during the period
increased on the comparable period in 2016 by GBP105,000 to
GBP781,000 as a result of the increase in activities required to
bring the field into production.
-- The loss before tax reduced by GBP265,000 to GBP1,079,000 as
the result of the reduced finance costs on loan notes following
early conversion.
-- Borrowings have reduced by GBP7 million over the past 12
months and by nearly GBP4 million since the beginning of the year.
Further conversions since the end of the period have reduced the
amount of outstanding notes to less than GBP50,000.
-- Raised GBP2,988,000 before costs in equity during February
2017 through a heavily subscribed offer through the PrimaryBid
platform which ensured the maximum practical access to the
offering.
Outlook
2017 has been a transformative year so far for the Company. We
look forward to the continued development of the Petišovci field.
Wells Pg-10 and Pg-11A are intended to prove the commerciality of
the field and the significant reserves and resources contained
within.
While we anticipate receiving the IPPC permit to construct our
own processing facility in due course this is no longer as
important to the Company. We have refurbished the existing
infrastructure to give ourselves room to grow independent of the
IPPC Permit.
Additionally, as the Company is now generating revenue and is
virtually debt free, we are in a strong position to look to expand
our operations into new territories.
Consolidated Income Statement
for the Period ended 30 June 2017
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
Notes GBP '000s GBP '000s GBP '000s
Revenue 154 - -
Cost of sales (154) - -
----------- ----------- ------------
Gross profit - - -
Administrative expenses 2 (921) (676) (1,888)
Loss from operating activities (921) (676) (1,888)
Finance income 3 7 153 159
Finance cost 3 (305) (821) (1,453)
----------- ----------- ------------
Net finance costs (298) (668) (1,294)
Loss before taxation (1,219) (1,344) (2,676)
Income tax expense - - -
----------- ----------- ------------
Loss for the period (1,219) (1,344) (2,676)
Loss per share
Basic & fully diluted
loss per share (Pence)
* 4 0.08 0.52 0.49
Consolidated Statement of Comprehensive Income
for the Period ended 30 June 2017
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Loss for the period (1,219) (1,344) (2,676)
Other comprehensive income
Foreign currency translation
differences for foreign
operations 500 2,293 2,997
Total comprehensive gain
/ (loss) for the period (719) 949 321
Consolidated Statement of Changes in Equity
for the Period ended 30 June 2017
Share
based
Share Share Equity payment Translation Accumulated
capital premium reserve reserve reserve losses Total
GBP GBP GBP GBP GBP
'000s GBP '000s '000s '000s '000s '000s GBP '000s
Balance at 1 January 2016 1,878 56,693 1,572 483 (2,805) (37,147) 20,674
Loss for the period - - - - - (1,344) (1,344)
Currency translation
differences - - - - 2,293 - 2,293
Total comprehensive income - - - - 2,293 (1,344) 949
Conversion of loan notes 565 2,260 (369) - - 369 2,825
Issue of shares during
the period net of costs 405 1,010 - - - - 1,415
Share-based payments and
expiry of options - - - 83 - - 83
Balance at 30 June 2016 2,848 59,963 1,203 566 (512) (38,122) 25,946
------------------------------- --------- ---------- --------- --------- ------------ ------------ ----------
Balance at 1 January 2016 1,878 56,693 1,572 483 (2,805) (37,147) 20,674
Loss for the period - - - - - (2,676) (2,676)
Currency translation
differences - - - - 2,997 - 2,997
Total comprehensive income - - - - 2,997 (2,676) 321
Acquisition of Trameta - - - 1,103 - - 1,103
Extinguishment of convertible
loan notes - - (1,572) - - 1,572 -
Extension of convertible
loan notes - - 2,787 - - - 2,787
Issue of convertible loan
notes - - 360 - - - 360
Conversion of loan notes 749 2,996 - - - - 3,745
Issue of shares during
the period net of costs 1,105 3,584 - - - - 4,689
Share-based payments and
expiry of options - - - 94 - 94 188
Balance at 31 December
2016 3,732 63,273 3,147 1,680 192 (38,157) 33,867
------------------------------- --------- ---------- --------- --------- ------------ ------------ ----------
Balance at 1 January 2017 3,732 63,273 3,147 1,680 192 (38,157) 33,867
Loss for the period - - - - - (1,219) (1,194)
Currency translation
differences - - - - 500 - 500
Total comprehensive income - - - - 500 (1,219) (1,008)
Conversion of loan notes 813 3,259 (1,826) - - 1,826 4,072
Issue of shares during
the period net of costs 323 2,503 - - - - 2,826
Share-based payments - - - 102 - - 102
Balance at 30 June 2017 4,868 69,035 1,321 1,782 692 (37,550) 40,418
------------------------------- --------- ---------- --------- --------- ------------ ------------ ----------
Consolidated Statement of Financial Position
As at 30 June 2017
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP GBP
Assets Notes '000s '000s GBP '000s
Non-current assets
Property, plant and equipment 4 4 4
Exploration and evaluation
costs 5 40,024 35,214 37,541
---------- ---------- ------------
Total non-current assets 40,028 35,218 37,545
Current assets
Trade and other receivables 556 23 32
Cash and cash equivalents 2,708 860 3,153
---------- ---------- ------------
Total current assets 3,073 883 3,185
Total assets 43,236 36,101 40,730
========== ========== ============
Equity and liabilities
Share capital 7 4,868 2,848 3,732
Share premium account 7 69,035 59,963 63,273
Equity reserve 1,321 1,203 3,147
Share-based payment reserve 1,782 566 1,680
Translation reserves 692 (512) 192
Accumulated losses (37,550) (38,122) (38,157)
---------- ---------- ------------
Total equity 40,148 25,946 33,867
---------- ---------- ------------
Non-current liabilities
Borrowings - - 6,162
Provisions 460 434 447
Total non-current liabilities 460 434 6,609
Current liabilities
Trade and other payables 292 297 254
Borrowings 6 2,392 9,424 -
Total current liabilities 2,684 9,721 254
Total liabilities 3,144 10,155 6,863
---------- ---------- ------------
Total equity and liabilities 43,292 36,101 40,730
========== ========== ============
Consolidated Statement of Cash Flows
for the six months ended 30 June 2017
6 months 6 months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Cash flows from operations
Loss after tax for the
period (1,219) (1,344) (2,676)
Adjustment related to
test production 115 - -
Decrease/ (increase) in
receivables (524) 38 29
Increase / (Decrease)
in payables 38 (211) (252)
Increase in share based
payments 102 83 188
Exchange differences (23) (8) 1
Finance income (7) (153) (159)
Finance cost 305 821 1,453
Net cash used in operating
activities (1,213) (774) (1,416)
---------- ---------- -------------
Cash flows from investing
activities
Interest received - - 1
Payments for fixed assets - - (1)
Payments for investing
in exploration (2,062) (158) (677)
Disposal / (Purchase)
of property, plant and
equipment - (1) -
Net cash used in investing
activities (2,062) (159) (677)
---------- ---------- -------------
Cash flows from financing
activities
Interest paid and other
finance fees (2) - (73)
Proceeds from loans - 350 1,400
Loan issue costs - (6) (800)
Proceeds from issue of
shares 2,988 1,455 4,999
Share issue costs (162) (40) (311)
Net cash generated from
financing activities 2,824 1,759 5,215
---------- ---------- -------------
Net increase in cash and
cash equivalents for the
period (445) 826 3,122
Effect of foreign exchange
differences 6 2 (1)
Cash and cash equivalents
at beginning of the period 3,153 32 32
Cash and cash equivalents
at end of the period 2,708 860 3,153
========== ========== =============
1. Accounting Policies
Reporting entity
Ascent Resources plc ('the Company') is a company domiciled in
England. The address of the Company's registered office is 5 New
Street Square, London EC4A 3TW. The unaudited consolidated interim
financial statements of the Company as at 30 June 2017 comprise the
Company and its subsidiaries (together referred to as the
'Group').
Basis of preparation
The interim financial statements have been prepared using
measurement and recognition criteria based on International
Financial Reporting Standards (IFRS and IFRIC interpretations)
issued by the International Accounting Standards Board (IASB) as
adopted for use in the EU. The interim financial information has
been prepared using the accounting policies which will be applied
in the Group's statutory financial statements for the year ended 31
December 2017 and were applied in the Group's statutory financial
statements for the year ended 31 December 2016.
All amounts have been prepared in British pounds, this being the
Group's presentational currency.
The interim financial information for the six months to 30 June
2017 and 30 June 2016 is unaudited and does not constitute
statutory financial information. The comparatives for the full year
ended 31 December 2016 are not the Group's full statutory accounts
for that year. The information given for the year ended 31 December
2016 does not constitute statutory financial statements as defined
by Section 435 of the Companies Act. The statutory accounts for the
year ended 31 December 2016 have been filed with the Registrar and
are available on the Company's web site www.ascentresources.co.uk.
The auditors' report on those accounts was unqualified. It did not
contain a statement under Section 498(2)-(3) of the Companies Act
2006.
During the period, the Group has generated revenue from test
production on well Pg-10. There has been a credit to costs of sales
of GBP115,000 begin the gross margin on production which has been
recorded against capitalised exploration costs.
Going Concern
The Financial Statements of the Group are prepared on a going
concern basis. Provided that the INA contract proceeds as
anticipated the Directors consider the Company has sufficient cash
to fund its current obligations for at least the next 12
months.
Principal Risks and Uncertainties:
The principal risks and uncertainties affecting the business
activities of the Group remain those detailed on pages 46-48 of the
Annual Review 2016, a copy of which is available on the Company's
website at www.ascentresources.co.uk.
2. Operating loss is stated after charging
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Employee costs 449 277 560
Share based payment charge 102 83 188
Foreign Exchange differences - (1) -
Included within Admin
Expenses
Audit Fees 31 25 60
Fees payable to the company's
auditor other services - - 2
----------- ----------- ------------
31 25 62
3. Finance income and costs recognised in loss
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Finance income
Income on bank deposits - - -
Foreign exchange movements
realised 7 - 6
Other income - 153 153
7 153 159
=========== =========== ============
Finance cost
Interest payable on borrowings - (32) (51)
Accretion charge on loan
notes (303) (782) (1,380)
Bank Charges (2) (8) (16)
Foreign exchange movements
realised - 1 (6)
(305) (821) (1,453)
=========== =========== ============
The liability of GBP153,000 written off as other income
represented a creditor dating back more than five years which the
Company no longer deems to be payable.
Convertible loan notes were restructured during the prior
periods and a full commentary is contained within the audited
financial statements for the year ended 31 December 2016 and are
available at www.ascentresources.co.uk.
4. Loss per share
Six months Six months Year
ended ended ended
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Result for the period
Total loss for the period
attributable to equity
shareholders 1,219 1,344 2,676
Weighted average number
of ordinary shares Number Number Number
For basic earnings per
share 1,580,679,071 258,096,858 544,270,848
Loss per share (Pence) 0.08 0.52 0.49
5. Exploration and Evaluation Costs
Slovenia
Exploration Costs &Total
Cost
At 1 January 2016 32,711
Additions 144
Effects of exchange rate
movements 2,345
At 30 June 2016 35,200
---------
At 1 July 2016 35,200
Additions 1,635
Effects of exchange rate
movements 706
At 31 December 2016 37,541
---------
At 1 January 2017 37,541
Additions 2,073
Adjustment related to
test production (115)
Effects of exchange rate
movements 536
At 30 June 2017 40,024
---------
Carrying value
At 30 June 2017 40,024
---------
At 31 December 2016 37,541
---------
At 30 June 2016 32,711
---------
6. Borrowings
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Current
Short term loan facility - 838 -
Convertible loan notes 2,392 8,586 6,162
2,392 9,424 6,162
---------- ---------- ------------
30 June 30 June 31 December
Convertible Loan Notes 2017 2016 2016
Unaudited Unaudited Audited
GBP '000s GBP '000s GBP '000s
Liability brought forward 6,162 10,778 10,778
Interest expense 303 786 1,380
Conversion loan notes (4,073) (2,825) (3,745)
Modification to convertible
loan notes - derecognition
Nov 2016) - - (8,140)
Modification to convertible
loan notes - recognition
of amended loan notes
(Nov 2016) - - 5,352
Fair value of new convertible
loan notes issued (Nov
2016) - - 690
Other movements - (153) (153)
Liability carried forward 2,392 8,586 6,162
---------- ---------- ------------
7. Share Capital
30 June 30 June 31 December
2017 2016 2016
Unaudited Unaudited Audited
GBP
GBP '000s '000s GBP '000s
Allotted, called up and
fully paid
Ordinary shares of 0.20
pence each 4,868 2,848 1,878
Reconciliation of share
capital movement Number Number Number
At 1 January 1,084,074,224 157,306,900 157,306,900
-------------- ------------ --------------
Placing of ordinary shares 161,500,000 202,380,960 552,281,987
Conversion of loan notes 590,046,319 282,542,511 374,485,337
At end of period 1,835,620,543 642,230,371 1,084,074,224
============== ============ ==============
Equity raised
On 14 February 2017, the Company raised GBP2,987,750
(GBP2,825,863 net of costs) via a Placing of 161,500,000 Ordinary
Shares through the PrimaryBid.com platform.
The Company also raised funds through placings during the prior
year:
-- On 12 April 2016, the Company raised GBP500,000 (GBP477,500
net of costs) via the Placing of 35,714,285 Ordinary Shares with
investors using the PrimaryBid.com platform.
-- On 7 June 2016, the Company raised GBP500,000 (GBP477,500 net
of costs) via the Placing of 83,333,333 Ordinary Shares with
investors using the PrimaryBid.com platform.
-- On 15 June 2016, the Company raised GBP500,000 (GBP500,000
net of costs) via the Placing of 83,333,333 Ordinary Shares to
Henderson Global Investors.
-- On 31 October 2016, the Company raised GBP2,627,500
(GBP2,402,434 net of costs) via the Placing of 262,750,000 Ordinary
Shares.
-- On 7 November 2016, the Company raised GBP871,510 (GBP871,510
net of costs) via the Placing of 87,151,027 Ordinary Shares to
Henderson Global Investors.
Loan note conversions
Over the course of the period a total of 590,076,850 shares were
issued as a result of loan note conversions. In total GBP5,900,769
of liabilities were converted into equity. This is the cash value
of the loan notes which is lower than the accounting value in Note
6 which had been discounted to net present value.
During 2016 a total of 374,485,337 shares were issued as a
result of loan note conversions. In total GBP3,744,853 of
liabilities were converted into equity.
Loan notes converted Shares issued
including accrued
interest
-----------
2016 2017 2016 2017
----------- ----------- ---------- ------------ ------------
January 0 0 0 0
February 0 2,652,107 0 265,210,704
March 0 1,597,018 0 159,701,787
April 1,088,390 1,581,609 108,838,990 158,160,880
May 463,113 69,709 46,311,258 6,970,931
June 1,273,923 325 127,392,263 32,548
July 0 0
August 845,053 84,505,321
September 563 56,312
October 0 0
November 73,455 7,345,491
December 357 35,702
3,744,853 5,900,769 374,485,337 590,076,850
----------- ----------- ---------- ------------ ------------
8. Events subsequent to the end of the reporting period
There were GBP3,018,831 of loan note principal converted during
July 2017 into 311,713,705 Ordinary Shares. As at 26 July 2017 all
of the loan notes issued to Henderson Global Investors
(subsequently Lombard Odier) have been converted in full. The
balance of GBP49,423 (including rolled up interest) is held by
other investors.
On 4 August 2017, the Company announced that all of the
infrastructure required to produce to INA had been installed and
the new infrastructure was being used for local production.
On 7 September 2017, the Company announced that well Pg-11a had
been successfully recompleted and production would begin on 8
September 2017 to be sold locally.
DIRECTORS AND ADVISERS
Directors Clive Nathan Carver
Colin Hutchinson
William Cameron Davies
Nigel Sandford Johnson Moore
Secretary Colin Hutchinson
Registered Office 5 New Street Square
London EC4A 3TW
Nominated Adviser WH Ireland Corporate Brokers
& Broker
24 Martin Lane
London EC4R 0DR
WH Ireland Corporate Brokers
Auditors BDO LLP
55 Baker Street
London W1U 7EU
Solicitors Taylor Wessing LLP
5 New Street Square
London EC4A 3TW
Bankers Barclays Corporate Banking
1 Churchill Place
London E14 5HP
Share Registry Computershare Investors Services
plc
The Pavilions
Bridgwater Road
Bristol BS13 8AE
IR & PR Yellow Jersey PR Limited
30 Stamford Street
London SE1 9LQ
Company's registered
number 05239285
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR EAXNXAELXEFF
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September 28, 2017 02:02 ET (06:02 GMT)
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