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Ascent Resources PLC - Issue of Equity

RNS Number : 9659D
Ascent Resources PLC
06 February 2018
 

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

 

06 February 2018

 

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 536 convertible loan notes of £1 each. The notes were issued in May 2013 as part of an open offer to all shareholders (the "Loan Notes"). The terms have since been amended in February 2015 and October 2016. The Loan Notes, including rolled up interest, are convertible into new Ordinary Shares at a rate of 100 new Ordinary Shares per £1 loan note. 

 

Consequently, a total of 60,366 new Ordinary Shares (the "Conversion Shares") will be issued pursuant to the Notice, following which £48,803 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 12 February 2018. Following Admission, Ascent will have 2,268,810,686 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 2,268,810,686 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

 

WH Ireland, Nominated Adviser & Broker

James Joyce / Alex Bond

0207 220 1666

Yellow Jersey, Financial PR and IR

Tim Thompson / Harriet Jackson / Henry Wilkinson

0203 735 8825

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Quick facts: Ascent Resources PLC

Price: 2.25

Market: AIM
Market Cap: £1.33 m
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