Business
Placing to raise £750,000
Placing to raise £750,000.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8681W Ascent Resources PLC 24 April 2019 \n\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \n24 April 2019\n \nAscent Resources plc\n(\"Ascent\" or the \"Company\")\n \nPlacing to raise £750,000\n \nAppointment of Joint Broker\nAscent Resources plc, the European focused oil & gas exploration and production company, is pleased to announce that it has completed an oversubscribed placing of 214,285,714 Ordinary shares of 0.2 pence (\"the Placing\") with a small number of institutional investors. The Placing was conducted at a price of 0.35 pence per share (\"the Placing Price\"). \n \nThe gross proceeds of the Placing amounting to £750,000 will be used to complete the reprocessing of the Company's 3D seismic data on Petišovci, place an order for compression equipment, evaluate other regional opportunities and provide additional working capital. \n \nThe Company will issue and allot a total of 214,285,714 New Ordinary Shares to satisfy the Placing. Application has been made to the London Stock Exchange for these New Ordinary Shares, which rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 29 April 2019. \n \nAppointment of Joint Broker\n \nThe Company has appointed SP Angel Corporate Finance LLP (\"SP Angel\") as joint broker with immediate effect.\n \nTotal Voting Rights\n \nFollowing the issue of the New Ordinary Shares, the Company will have 2,626,648,452 ordinary shares of 0.2p each in issue. No Ordinary Shares are held in treasury. The figure of 2,626,648,452 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their intere...