Ascent Resources PLC Issue of Equity (2535J)
September 08 2016 - 2:00AM
UK Regulatory
TIDMAST
RNS Number : 2535J
Ascent Resources PLC
08 September 2016
8 September 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 500 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 56,312 new Ordinary Shares ("the Conversion Shares") will be
issued pursuant to the Notice, following which GBP8,210,306 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 14 September 2016. Following Admission, Ascent will have
726,792,004 Ordinary Shares in issue. There are no shares held in
treasury. The total voting rights in the Company is therefore
726,792,004 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 Guidance 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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