Ascent Resources PLC Issue of Equity (8145B)
21 June 2016 - 7:15PM
UK Regulatory
TIDMAST
RNS Number : 8145B
Ascent Resources PLC
21 June 2016
21 June 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 notices of
exercise ("the Notices") to convert
-- 258,190 convertible loan notes of GBP1 each which were issued
in May 2013 as part of an open offer to all shareholders (the "2013
Loan Notes") and the terms of which were amended in February 2015.
The 2013 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 GBP1 loan note; and
-- 55,112 convertible loan notes of GBP1 each which were issued
to Henderson Global Investors in February 2014 (the "2014 Loan
Notes") and the terms of which were amended in February 2015. The
2014 Loan Notes, including rolled up interest, are convertible into
new Ordinary Shares at a rate of 100 new Ordinary Shares per GBP1
loan note.
Consequently, a total of 34,940,711 new Ordinary Shares ("the
Conversion Shares") will be issued pursuant to the Notices,
following which GBP9,055,924 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 27 June 2016. Following Admission, Ascent will have 642,230,371
Ordinary Shares in issue. There are no shares held in treasury. The
total voting rights in the Company is therefore 642,230,371 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 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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