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Ascent Resources PLC - Issue of Equity

RNS Number : 3331V
Ascent Resources PLC
02 November 2017
 

2 November 2017

 

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

Ascent Resources plc

 

("Ascent" or the "Company")

 

Issue of Equity

 

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company (AIM:  AST), notifies that it has issued 20,000,000 new ordinary shares of 0.2p each in the Company ("Ordinary Shares"), comprising Tranche 2 of the shares due under the Trameta Sale and Purchase ("the SPA") agreement as detailed in the Company's announcement of 1 August 2016.  These new Ordinary Shares were due on the first anniversary of the recertification of the export pipeline on the Slovenian side of the border which occurred on 3 November 2016.

 

There are two further tranches of shares potentially issuable under the SPA

-      Tranche 3 consists of 22,500,000 new Ordinary Shares and will be issuable on the first anniversary of the date when, in aggregate, 1 million cubic metres of gas have been transported through the Croatian Export Pipeline.

-      Tranche 4 consists of 27,500,000 new Ordinary Shares and will be issuable on the first anniversary of the date when in aggregate 50 million cubic metres of gas have been transported through the Croatian Export Pipeline.

 

Admission and Settlement

 

Application has been made for the admission to trading on AIM of the 20,000,000 new Ordinary Shares ("Admission"). Admission is expected to occur on 8 November 2017.  Following Admission, Ascent will have 2,268,750,320 Ordinary Shares in issue.  There are no shares held in treasury.  The total voting rights in the Company is therefore 2,268,750,320 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 Limited, Nominated Adviser and Broker

James Joyce

Alex Bond
 

0207 220 1666

Yellow Jersey

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: 4.625

Market: AIM
Market Cap: £3.5 m
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