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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ascent Resources Plc | LSE:AST | London | Ordinary Share | GB00BJVH7905 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.20 | 2.10 | 2.30 | 2.20 | 2.15 | 2.20 | 700,813 | 08:00:14 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 581k | -41.89M | -0.1004 | -0.22 | 9.18M |
TIDMAST
RNS Number : 4327U
Ascent Resources PLC
07 April 2016
Ascent Resources plc
("Ascent" or "the Company")
GBP500,000 Placing of shares via Primarybid.com and conversion of loan notes
The Board of Ascent is pleased to announce that it has raised GBP500,000 gross (GBP477,500 net to the Company) via the placing of 35,714,285 new ordinary shares of 0.2p each in the Company at a price of 1.4p per Placing Share ("Placing Shares") with investors using the Primarybid.com platform.
These funds will meet the working capital requirements of the Company until the end of Q2 2016 during which time the final outcome of the IPPC Permit and negotiations around an alternative route to first gas are expected.
Issue of equity through conversion of loan notes
Ascent further announces that it has received notices of exercise to convert GBP81,681 nominal of convertible loan notes ("Loan Notes") plus GBP10,311.93 interest accrued. The Loan Notes are convertible into new ordinary shares of 0.2p in the Company ("Ordinary Shares") at a rate of 100 new Ordinary Shares per GBP1 Loan Note nominal or interest. Consequently, a total of 9,199,293 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the notices.
Accordingly, the Company has GBP11,963,678.76 of remaining convertible loan notes (including rolled-up interest) due in November 2016.
Admission of Ordinary Shares
The Company has applied for admission of the aggregate 44,913,578 Placing Shares and Conversion Shares to trading on AIM. Dealings are expected to become effective on 12 April 2016 ("Admission"). Following Admission, the Company will have 202,220,478 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore will be 202,220,478 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's 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 Johnston Edward Thomas 0207 601 6100 IFC Advisory Ltd, Financial PR and IR Graham Herring Tim Metcalfe Heather Armstrong 0203 053 8671 PrimaryBid Dave Mutton Anand Sambasivan 020 7491 6519
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
April 07, 2016 02:00 ET (06:00 GMT)
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