Ascent Resources PLC Fundraising Update and Total Voting Rights (1775G)
14 March 2020 - 4:41AM
UK Regulatory
TIDMAST
RNS Number : 1775G
Ascent Resources PLC
13 March 2020
Ascent Resources plc
("Ascent" or the "Company")
Fundraising Update and Total Voting Rights
13 March 2020
Ascent Resources Plc (LON: AST) the onshore European independent
oil and gas exploration and production company announces the
following update to the fundraising announced on 14 February
2020.
Fundraising
Further to the announcement made on 14 February 2020, the
successful passing of the resolutions at the Company's General
Meeting held on 5 March 2020 and despite the recent market
volatility, the Company has so far successfully settled and
allotted GBP500,000 of the GBP800,000 funds originally intended by
way of the announced placing of new ordinary shares in the Company
(the 'Placing') and expects to receive funds for a further
GBP200,000 by 6 April 2020. The total raise is therefore now expected to be GBP700,000.
The Company has therefore allotted 10,000,000 new ordinary
shares in the Company (the 'Placing Shares') and admission to
trading on AIM is expected on 19 March 2020. The Company will
update the market upon the issue and admission of the expected
further 4,000,000 ordinary shares in due course.
Total Voting Rights:
Following the allotment of 10,000,000 Placing Shares the
Company's total issued share capital will consist of 40,196,484
Ordinary shares of 0.5 pence each. This figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or change in their interest in, the share capital of
the Company pursuant to the FCA's Disclosure Guidance and
Transparency Rules.
Enquiries:
Ascent Resources plc
John Buggenhagen, CEO 0207 251 4905
WH Ireland, Nominated Adviser & Broker
James Joyce / Chris Savidge 0207 220 1666
SP Angel, Joint Broker
Richard Hail 0203 470 0470
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END
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