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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% | 2.05 | 1.90 | 2.20 | 2.05 | 2.00 | 2.05 | 4,199 | 08:00:05 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 581k | -41.89M | -0.1004 | -0.20 | 8.55M |
TIDMAST
RNS Number : 4815I
Ascent Resources PLC
14 April 2022
14 April 2022
Ascent Resources plc
("Ascent" or the "Company")
Warrant Exercise and Issue of New Warrants
Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, is pleased to announce it has agreed to the immediate exercise of the remaining equity warrants issued on 6 August 2020, raising gross proceeds of GBP242,500.
The Company has agreed with the August 2020 Warrant Holders, who own in aggregate a remaining 6,062,500 new equity warrants exercisable at 4 pence per new warrant share, to immediately exercise all the remaining August 2020 Warrants, raising gross proceeds of GBP242,500. In exchange for the accelerated warrant exercise, the Company has agreed to issue the August 2020 Warrant Holders with one and a half new equity warrants ('New Warrants') per each August 2020 Warrant that is exercised, a total number of 9,093,750 New Warrants have been issued. The New Warrants will be exercisable at a price of 5 pence per new warrant share at any time over the next three years.
The August 2020 Warrant shares are expected to commence dealing in 5 business days, following which the Company will have a total of 135,560,515 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company will be 135,560,515 and shareholders may use this figure 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 FCA's Disclosure Guidance and Transparency Rules.
Andrew Dennan, Chief Executive Officer, comments;
"We are pleased to have the support of the August 2020 Warrant Holders and the new proceeds received by the Company strengthens the Company's cash position and allows us to continue to focus on business development activity while in tandem resolving the production invoice receivable with our Slovenian JV partner as announced last month."
Enquiries:
Ascent Resources plc Via Vigo Communications Andrew Dennan WH Ireland, Nominated Adviser & Broker James Joyce / Sarah Mather 0207 220 1666 Novum Securities, Joint Broker Jon Belliss 0207 399 9400
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(END) Dow Jones Newswires
April 14, 2022 12:27 ET (16:27 GMT)
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