TIDMAST

RNS Number : 2868X

Ascent Resources PLC

04 May 2016

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, has received a notice of exercise ("the Notice") to convert 211,200 convertible loan notes of GBP1 each which were issued in May 2013 as part of an open offer to all shareholders (the "Loan Notes") and the terms of which were amended in February 2015. The Loan Notes, including rolled up interest, are convertible into new ordinary shares of 0.2 pence each in the capital of the Company ("Ordinary Shares") at a rate of 100 new Ordinary Shares per GBP1 loan note. Consequently, a total of 23,786,327 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which GBP10,596,346 nominal convertible loan notes (including rolled-up interest) remain outstanding.

Admission and Settlement

Application has been made for the admission to trading on AIM of the Conversion Shares ("Admission"). Admission is expected to occur on 10 May 2016. Following Admission, Ascent will have 325,646,511 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 325,646,511 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure and Transparency Rules.

Enquiries:

 
 Ascent Resources plc 
  Clive Carver, Chairman 
  Colin Hutchinson, Interim 
  CEO                            0207 251 4905 
 Stockdale Limited, Nominated 
  Adviser 
  Alastair Stratton 
  Richard Johnson 
  Edward Thomas                  0207 601 6100 
 IFC Advisory Ltd, Financial 
  PR and IR 
  Graham Herring 
  Tim Metcalfe 
  Heather Armstrong              0203 053 8671

This information is provided by RNS

The company news service from the London Stock Exchange

END

IOEQZLFBQEFZBBQ

(END) Dow Jones Newswires

May 04, 2016 12:48 ET (16:48 GMT)

Ascent Resources (LSE:AST)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Ascent Resources Charts.
Ascent Resources (LSE:AST)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Ascent Resources Charts.