Issue of Equity

RNS Number : 1124Q
Ascent Resources PLC
24 November 2016
 

24 November 2016                                                                                                             

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 65,123 convertible loan notes of £1 each which were issued in May 2013 as part of an open offer to all shareholders (the "Loan Notes") and the terms of which were amended in February 2015 and October 2016.  The Loan Notes, including rolled up interest, 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 7,334,454 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £8,136,850 nominal convertible loan notes (including rolled-up interest) remain outstanding. This figure excludes the 2016 Loan Notes pursuant to the Placing announced on 27 October 2016.

 

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 30 November 2016.  Following Admission, Ascent will have 1,084,038,522 Ordinary Shares in issue.  There are no shares held in treasury.  The total voting rights in the Company is therefore 1,084,038,522 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

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEEZLFLQFFEFBF
UK 100

Latest directors dealings