Business
Issue of new equity
Issue of new equity.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 4116C Ascent Resources PLC 07 March 2011 \n \n\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n7 March 2011\nAscent Resources plc ('Ascent' or 'the Company')\nIssue of new equity\n \nAscent Resources plc, the AIM-traded oil and gas exploration and production company, has issued 6,062,579 ordinary shares of 0.1p each in the Company to YA Global Master SPV Ltd ('Yorkville'), an investment fund managed by Yorkville Advisors LLC. The shares have been issued under the Standby Equity Distribution Agreement ('SEDA'), details of which were announced on 19 November 2010. The shares were issued at an average of 6.6p per share to raise £400,000 for the Company which will assist the Company's working capital needs following the recent successful drilling of its appraisal well Pg-11 in Slovenia. \n \nApplication has been made for the admission of these shares to trading on AIM and dealings are expected to commence on 10 March 2011. The shares will rank pari passu in all respects with the Company's existing ordinary shares, including the right to receive any dividends and other distributions declared by the Company. Following the issue of the shares the Company's total issued share capital will be 685,509,722 ordinary shares of 0.1p each in the Company.\n \nThe above figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules. \n \n* * ENDS * *\n \nFor further information visit www.ascentresources.co.uk or contact:\n \n\n\n\n\nJeremy Eng\n\n\nAscent Resources plc\n\n\nTel: 020 7251 4905\n\n\n\n\nScott Richardson Brown\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSarah Wharry\n\n\nfinnCap Ltd (NOMAD & Broker)\n\n\nTel: 020 7600 1658\n\n\n\n\nHenrik Persson\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHugo de Salis\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n \nNotes\nAscent Resources plchas a diversified portfolio of hydrocarbon exploration and development interests across five countries in Europe: Italy, Switzerland, Hungary, Slovenia and Netherlands. Its portfolio contains a solid ...