Source - RNS
RNS Number : 2535J
Ascent Resources PLC
08 September 2016
 

8 September 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 500 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.  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 56,312 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £8,210,306 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 14 September 2016.  Following Admission, Ascent will have 726,792,004 Ordinary Shares in issue.  There are no shares held in treasury.  The total voting rights in the Company is therefore 726,792,004 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

 

Stockdale Limited, Nominated Adviser

Richard Johnson

Edward Thomas

 

0207 601 6100

IFC Advisory Ltd, Financial PR and IR      

Graham Herring

Tim Metcalfe

Heather Armstrong

 

0203 053 8671



 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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