Ascent Announces Share Placing to Raise £500,000

Source: www.gulfoilandgas.com 6/9/2016, Location: Europe

Ascent Resources plc has raised £500,000 (net to the Company) via the placing of 83,333,333 new ordinary shares of 0.2p each in the Company at a price of 0.6 p per Placing Share.

These funds are expected to meet the Company's current working capital requirements into 2017 and enable the Company to continue to order long lead items required for the alternative route to market.

Admission of Ordinary Shares

The Company has applied for admission of the 83,333,333 Placing Shares to trading on AIM. Dealings are expected to become effective on 15 June 2016 ("Admission"). Following Admission, the Company will have 514,937,442 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 514,937,442 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.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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