Ascent Resources PLC Successful fundraising of £3m via PrimaryBid (6706W)
February 13 2017 - 2:00AM
UK Regulatory
TIDMAST
RNS Number : 6706W
Ascent Resources PLC
13 February 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
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Ascent Resources plc
("Ascent" or the "Company")
Successful fundraising of approximately GBP3 million via
PrimaryBid
Ascent Resources plc, the European focused oil & gas
exploration and production company, announced on 10 February 2017
the launch of an institutionally underwritten Offer to raise
approximately GBP3 million at 1.85p per New Ordinary Share. The
Offer closed at 5.00 p.m. on 12 February 2017.
The Company is delighted to announce that it has successfully
closed the fundraise as announced on 10 February 2017. The
fundraise received a strong response from private and institutional
investors, and includes a subscription under the Offer for 270,270
shares by Colin Hutchinson, Chief Executive. The gross proceeds of
the fundraise are GBP2,987,750 (GBP2,838,363 net of costs).
The Company will therefore issue and allot a total of
161,500,000 New Ordinary Shares to satisfy the Offer. Application
has been made to the London Stock Exchange for these New Ordinary
Shares, which rank pari passu with the Company's existing Ordinary
Shares, to be admitted to trading on AIM. Dealings are expected to
commence at 8.00 a.m. on 16 February 2017.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company will
have 1,510,578,713 ordinary shares of 0.2p each in issue. No
Ordinary Shares are held in treasury. The figure of 1,510,578,713
may be used by the Company's shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Rules
and Transparency Rules.
Colin Hutchinson, Chief Executive Officer of Ascent Resources,
commented:
"I am delighted with the response to the Offer and the
significant proportion of the shares taken up by private investors.
It is pleasing that in using PrimaryBid private investors usually
excluded from such Offers have been able to participate on the same
terms as institutional investors at this exciting time for the
Company."
Defined terms in this announcement shall have the same meaning
as in the Company announcement of 10 February 2017, unless
otherwise specified.
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
PrimaryBid Limited 0207 4791 6519
Dave Mutton
Northland Capital Partners Limited, Joint Broker 0203 861
6625
Tom Price
IFC Advisory Ltd, Financial PR and IR 0203 053 8671
Tim Metcalfe
Heather Armstrong
This information is provided by RNS
The company news service from the London Stock Exchange
END
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