Business
End of Offer Period
End of Offer Period.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5294L Ascent Resources PLC 13 August 2013 \n\n \nAscent Resources plc\n(\"Ascent\" or \"the Company\")\n \nStrategic review completed\nEnd of Offer Period\n \n \nAscent Resources plc., the AIM listed European oil and gas exploration and production company, is pleased to announce that following disposal of Ascent's Dutch assets, as announced on 7 August 2013, the previously announced strategy of rationalising the Group's portfolio is now complete.\n \nSince April 2013, the Company has sold its Hungarian, Italian and Dutch assets (\"the Disposals\"). The focus of the Group's operations is now exclusively Slovenia, and in particular the Petišovci asset.\n \nStrong progress has been made towards both finalising the Joint Operating and other operational agreements required among the Petišovci partners group and in our discussions with BNPP for a revised bank facility. The Board expects to conclude the partner agreements in the next few weeks and further updates will be made as and when required. \n \nFollowing the Disposals and having stated its strategy of focusing on its Slovenian assets, the Board of Ascent considers the strategic review of the Company's operations to now be complete. As such, the Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers. \n \n \nClive Carver, Chairman, commented\n \n\"I am pleased with both the pace at which the management team has identified and concluded the sale of non-core assets and also the terms on which they have been sold.\n \nGoing forward our focus is exclusively on the Petišovci project, where strong progress within the partner group and with the bank has been made.\n \nOur mission now is to conclude the operational and other agreements among the partner group and to secure a revised bank facility to allow the Petišovci project to be brought on stream.\"\n \nContacts\n \nAscent Resources plc.\nClive Carver\nTel: +44 (0)20 7251 4905\n \nLeonard Reece\nTel: +44 (0)20 7251 4905\n \nfinnCap (Nominated Adviser and Broker)\nMatt Goode / Charlotte Stranner \nTel: +44 (0) 20 7220 0500\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCEA...