Issue of Equity

RNS Number : 9659D

Ascent Resources PLC

06 February 2018

 

Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

06 February 2018

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 536 convertible loan notes of £1 each. The notes were issued in May 2013 as part of an open offer to all shareholders (the "Loan Notes"). The terms have since been amended in February 2015 and October 2016. The Loan Notes, including rolled up interest, are convertible into new Ordinary Shares at a rate of 100 new Ordinary Shares per £1 loan note. 

Consequently, a total of 60,366 new Ordinary Shares (the "Conversion Shares") will be issued pursuant to the Notice, following which £48,803 nominal convertible Loan Notes (including rolled-up interest) remain outstanding.  

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 12 February 2018. Following Admission, Ascent will have 2,268,810,686 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 2,268,810,686 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
WH Ireland, Nominated Adviser & Broker James Joyce / Alex Bond	0207 220 1666
Yellow Jersey, Financial PR and IR Tim Thompson / Harriet Jackson / Henry Wilkinson	0203 735 8825

 

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