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

Ascent ResourcesAnnouncement

27/01/2017 11:50

RNS Number : 3522V
Ascent Resources PLC
27 January 2017
27 January 2017 
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 1,000,000 convertible loan notes of 1 each which were issued as part of a placing announced on 27 October 2016 (the "2016 Loan Notes"). The 2016 Loan Notes 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 100,000,000 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which 50,000 of the 2016 Loan Notes remain outstanding. In addition there remains outstanding 8,136,493 nominal convertible loan notes (including rolled-up interest) of the convertible loan notes issued in 2013 & 2014. 
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 2 February 2017. Following Admission, Ascent will have 1,184,074,224 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 1,184,074,224 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  0207 251 4905
Clive Carver, Chairman
Colin Hutchinson, CEO
Stockdale Securities Limited, Nominated Adviser and Joint Broker  0207 601 6100
Richard Johnson
Edward Thomas
 
Northland Capital Partners Limited, Joint Broker 0203 861 6625
Tom Price
John Howes 
Abigail Wayne
IFC Advisory Ltd, Financial PR and IR  0203 053 8671  
Graham Herring
Tim Metcalfe
Heather Armstrong

This information is provided by RNS
The company news service from the London Stock Exchange
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