REG - Ascent Resources PLC - Issue of Equity <Origin Href="QuoteRef">ASCR.L</Origin>

Ascent ResourcesAnnouncement

04/05/2016 17:50

RNS Number : 2868X
Ascent Resources PLC
04 May 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 211,200 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 23,786,327 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which 10,596,346 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 10 May 2016. Following Admission, Ascent will have 325,646,511 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 325,646,511 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, Interim CEO
0207 251 4905
Stockdale Limited, Nominated Adviser
Alastair Stratton
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
  END
IOEQZLFBQEFZBBQ