REG - Ascent Resources PLC - Exercise of warrants and debt update
RNS Number : 7982DAscent Resources PLC30 October 202030 October 2020
Ascent Resources plc
("Ascent" or the "Company")
Exercise of Warrants and Repayment of Debt
Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European natural resources company announces that it has today received a Warrant Exercise notice over 4 million new ordinary shares for a consideration of £100,000. The Warrants are being exercised by Align Research in consideration for surrendering an equivalent value of loan notes. Additionally the Company has agreed to issue 320,000 new shares at 2.5 pence, being the coupon conversion price, in lieu of the 8% cash coupon that is incurred on the converted loan amount. The Company has therefore today issued 4.32 million new shares and admission of these shares is expected to take place on or around 5 November.
The Company and the Lender confirm that following this warrant exercise and coupon repayment the outstanding loan balance is reduced to nil.
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 and the coupon shares, its issued ordinary share capital will comprise 88,775,561 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 88,775,561. 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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDMSCBDBDGXXXDGGG
Recent news on Ascent Resources
See all newsREG - Ascent Resources PLC - Onshore US Gas Investment, New Funding &TVR
AnnouncementREG - Ascent Resources PLC - Geoenergo Administration: RJOA Status & Claim
AnnouncementREG - Ascent Resources PLC - Confirmation of Geoenergo d.o.o. administration
AnnouncementREG - Ascent Resources PLC - Results of General Meeting
AnnouncementREG - Ascent Resources PLC - Holding(s) in Company
Announcement