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

Ascent ResourcesAnnouncement

03/08/2016 15:35

RNS Number : 1764G
Ascent Resources PLC
03 August 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 750,000 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 84,468,493 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which 8,211,239 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 9 August 2016. Following Admission, Ascent will have 726,698,864 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 726,698,864 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



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