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

Ascent ResourcesAnnouncement

01/11/2016 16:25

RNS Number : 0382O
Ascent Resources PLC
01 November 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 98 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 and October 2016. 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 11,037 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which 8,210,195 nominal convertible loan notes (including rolled-up interest) remain outstanding. This figure excludes the 2016 Loan Notes pursuant to the Placing announced on 27 October 2016.
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 7 November 2016. Following Admission, Ascent will have 989,553,041 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 989,553,041 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 Guidance and Transparency Rules.
Enquiries:
Ascent Resources plc       
Clive Carver, Chairman
Colin Hutchinson, CEO
0207 251 4905
Stockdale Securities Limited, Nominated Adviser and Joint Broker
Richard Johnson
Edward Thomas
0207 601 6100
Northland Capital Partners Limited, Joint Broker      
Tom Price
John Howes 
Abigail Wayne
0203 861 6625
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
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