Ascent Resources PLC Issue of Equity (1764G)
August 03 2016 - 10:34AM
UK Regulatory
TIDMAST
RNS Number : 1764G
Ascent Resources PLC
03 August 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 750,000 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 84,468,493 new Ordinary Shares ("the Conversion Shares") will be
issued pursuant to the Notice, following which GBP8,211,239 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 9 August 2016. Following Admission, Ascent will have 726,698,864
Ordinary Shares in issue. There are no shares held in treasury. The
total voting rights in the Company is therefore 726,698,864 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, CEO 0207 251 4905
Stockdale Limited, Nominated
Adviser
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
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