Ascent Resources PLC Result of General Meeting (3676F)
February 19 2015 - 7:30AM
UK Regulatory
TIDMAST
RNS Number : 3676F
Ascent Resources PLC
19 February 2015
Ascent Resources plc
("Ascent" or "the Company")
Result of General Meeting
The Board of Ascent is pleased to announce that all the
resolutions contained in the Notice of General Meeting dated 3
February 2015 were passed at the General Meeting held earlier
today.
As detailed in the circular sent to shareholders dated 3
February 2015, the Board of Ascent entered into an agreement with
Henderson, as majority holder of the Loan Notes, whereby, in return
for extending the maturity date of the Loan Notes and terminating
the accrual of further interest, the conversion price in respect of
both the 2013 and 2014 Convertible Loan Notes was adjusted from
0.5p and 0.2p respectively to 0.1p for all Loan Notes. The
resolutions proposed at the General Meeting held today were
required in order to implement the terms of this agreement.
Resolution 1, as required by the Takeover Code, was conducted by
way of a poll of Independent Shareholders. The results of the poll
are summarised below:
Votes For % of Votes Cast Votes Against % of Votes Cast
313,426,490 99.86 431,462 0.14
---------------- -------------- ----------------
As a result of the resolutions being passed, Henderson are able
to convert all of the Loan Notes held by them without being obliged
to make a general offer to all remaining shareholders in Ascent. On
a fully diluted basis, assuming full draw down of the 2014 CLNs and
assuming only Henderson convert, Henderson would, on full
conversion of the Loan Notes held by them, be interested in 88.6
per cent. of the total voting rights of the Company.
Other
Unless otherwise defined, all capitalised terms in this
announcement shall have the meaning given to them in the circular
sent to shareholders on 3 February 2015.
Enquiries:
Ascent Resources plc.
Clive Carver / Len Reece
Tel: +44 (0)20 7251 4905
finnCap (Nominated Adviser and Broker)
Charlotte Stranner / Chris Raggett
Tel: +44 (0) 20 7220 0500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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