Ascent Resources PLC Issue of Equity (1124Q)
November 24 2016 - 11:00AM
UK Regulatory
TIDMAST
RNS Number : 1124Q
Ascent Resources PLC
24 November 2016
24 November 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 65,123 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 and October 2016. 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 7,334,454 new Ordinary Shares ("the
Conversion Shares") will be issued pursuant to the Notice,
following which GBP8,136,850 nominal convertible loan notes
(including rolled-up interest) remain outstanding. This figure
excludes the 2016 Loan Notes pursuant to the Placing announced on
27 October 2016.
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 30 November 2016. Following Admission, Ascent will have
1,084,038,522 Ordinary Shares in issue. There are no shares held in
treasury. The total voting rights in the Company is therefore
1,084,038,522 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 0207 251 4905
Clive Carver, Chairman
Colin Hutchinson, CEO
Stockdale Securities Limited, Nominated Adviser and Joint Broker 0207 601 6100
Richard Johnson
Edward Thomas
Northland Capital Partners Limited, Joint Broker 0203 861
6625
Tom Price
John Howes
Abigail Wayne
IFC Advisory Ltd, Financial PR and IR
0203 053 8671
Graham Herring
Tim Metcalfe
Heather Armstrong
This information is provided by RNS
The company news service from the London Stock Exchange
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