Issue of Equity

RNS Number : 3522V

Ascent Resources PLC

27 January 2017

 

27 January 2017                                                                                                                   

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 1,000,000 convertible loan notes of £1 each which were issued as part of a placing announced on 27 October 2016 (the "2016 Loan Notes").  The 2016 Loan Notes 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 £1 loan note.  Consequently, a total of 100,000,000 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £50,000 of the 2016 Loan Notes remain outstanding. In addition there remains outstanding £8,136,493 nominal convertible loan notes (including rolled-up interest) of the convertible loan notes issued in 2013 & 2014.

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 2 February 2017.  Following Admission, Ascent will have 1,184,074,224 Ordinary Shares in issue.  There are no shares held in treasury.  The total voting rights in the Company is therefore 1,184,074,224 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

 

END

 

 

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