Fundraising Update and Total Voting Rights

RNS Number : 1775G

Ascent Resources PLC

13 March 2020

 

Ascent Resources plc

("Ascent" or the "Company")

Fundraising Update and Total Voting Rights

13 March 2020

Ascent Resources Plc (LON: AST) the onshore European independent oil and gas exploration and production company announces the following update to the fundraising announced on 14 February 2020.

Fundraising

Further to the announcement made on 14 February 2020,  the successful passing of the resolutions at the Company's General Meeting held on 5 March 2020 and despite the recent market volatility, the Company has so far successfully settled and allotted £500,000 of the £800,000 funds originally intended by way of the announced placing of new ordinary shares in the Company (the 'Placing') and expects to receive funds for a further £200,000 by 6 April 2020.  The total raise is therefore now expected to be £700,000.

The Company has therefore allotted 10,000,000 new ordinary shares in the Company (the 'Placing Shares') and admission to trading on AIM is expected on 19 March 2020. The Company will update the market upon the issue and admission of the expected further 4,000,000 ordinary shares  in due course.

Total Voting Rights:

Following the allotment of 10,000,000 Placing Shares the Company's total issued share capital will consist of 40,196,484 Ordinary shares of 0.5 pence each. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in their interest in, the share capital of the Company pursuant to the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Ascent Resources plc John Buggenhagen, CEO	0207 251 4905
WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge	0207 220 1666
SP Angel, Joint Broker Richard Hail	0203 470 0470

 

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