Ascent Resources Joins PrimaryBid.com

RNS Number : 8437G

Ascent Resources PLC

09 March 2015

 

Ascent Resources PLC

("Ascent" or "the Company")

 Ascent Resources PLC Joins PrimaryBid.com

Ascent is pleased to announce that it has joined PrimaryBid.com (www.primarybid.com), the online platform dedicated to equity crowdfunding for AIM-listed companies.

PrimaryBid.com provides a new channel for the Company to raise equity from private investors.  Primarybid.com allows private investors to bid directly for new shares in the Company at prices of their choosing, subject to certain limited restrictions.

PrimaryBid.com will provide the Company with ongoing access to an aggregated book of bids submitted by PIs.

Ascent has full discretion as to whether to proceed with a share placing to raise capital through PrimaryBid.com. This is done by issuing new shares in order to satisfy any number of these bids presented through the PrimaryBid.com platform.  Shares may only be issued to the extent that the Company has the requisite shareholder authorities to fulfil the issuance.

Full details can be found on www.primarybid.com.

Leonard Reece, CEO of Ascent, said:

"We are pleased to join this new and innovative platform which will allow us to access funding directly from retail investors in a way which has traditionally been very restrictive.

We are not actively seeking to raise capital, however the flexibility the platform provides us with the potential to access capital quickly should we choose to do so.

PrimaryBid.com will be used alongside our existing funding arrangements in order to afford private investors who have been supporting the Company the ability to participate in potential future fundraisings."

PrimaryBid.com commented:

"We are excited to launch our new platform and are delighted that Ascent has joined the Primarybid.com community.

This platform was created to empower private investors to participate in AIM placings as well as provide a quick, efficient and cost-effective way for companies to raise new capital.

Private investors constitute over 60% of secondary transactions on AIM, however, historically they have been virtually unable to take part in primary investments such as a placing. PrimaryBid.com is the first and only dedicated AIM focused crowdfunding platform to give private investors direct access to AIM companies."

Enquiries:

Ascent Resources plc.

Clive Carver / Len Reece

Tel: [phone]

finnCap (Nominated Adviser and Broker)

Charlotte Stranner / Chris Raggett 

Tel: [phone]

 

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