REG - Ascent Resources PLC - Exercise of warrants and debt update

Ascent ResourcesAnnouncement

29/10/2020 17:30

RNS Number : 6818D
  
Ascent Resources PLC
  
29 October 2020
  
 

29 October 2020
Ascent Resources plc
("Ascent" or the "Company")
Exercise of Warrants, Debt Update and TVR
 
Ascent Resources Plc (LON: AST) the onshore Caribbean, Hispanic American and European energy and natural resources company, announces that it has today received cash of £50,000 in respect of a warrant exercise over 2,000,000 ordinary shares. The Company has therefore today issued 2,000,000 new shares and admission of these warrant shares is expected to take place on or around 5 November 2020. The warrants being exercised were attached to the debt facility announced on 6 August 2020 ("Loan Facility").
The Company confirms that under the Loan Facility a total of £108,000 (principal plus coupon) is currently drawn down and is due to mature on 31 March 2020.  The Company also confirms a further £100,000 is available under the Loan Facility,  which may be drawn at the Company's discretion at any time up to 30 November.  
As also announced on 6 August 2020, as part of the ongoing clean up of the Company's balance sheet and historic obligations, the Company agreed to repay a total of up to £135,000 of the legacy RiverFort Global Opportunities PCC Limited loan of which £375,020 was outstanding on 6 August 2020. Following repayments made to date and as a result of not having drawn the full Loan Facility to date, the current outstanding balance on the Riverfort loan, due for maturity in February 2022, is £270,020.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the warrant shares, its issued ordinary share capital will comprise 84,455,561 ordinary shares. All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 84,455,561. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.
 
Enquiries:




 Ascent Resources plc
 Andrew Dennan
 


Via Vigo Communications
 




 WH Ireland, Nominated Adviser & Broker
 James Joyce / Chris Savidge


0207 220 1666




 Novum Securities, Joint Broker
 John Belliss
 


0207 399 9400




 
 

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