Business
Result of GM & Total Voting Rights
Result of GM & Total Voting Rights.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4137H Ascent Resources PLC 30 November 2015 \n\nAscent Resources plc\n(\"Ascent\" or \"the Company\")\n \nResult of General Meeting\nand Total Voting Rights\n \nAscent announced that on 12 November 2015 it had conditionally raised £703,500 (before expenses) by way of a proposed Placing of 70,350,000 New Ordinary shares at a price of 1.0 pence* per share and had proposed an amendment to the Loan Notes and a Capital Reorganisation. The Placing, amendment to the Loan Notes and the Capital Reorganisation were conditional, inter alia, on shareholder approval at a General Meeting. The Company is pleased to announce that at the General Meeting held earlier today all resolutions put to shareholders were duly passed.\n \nThese funds will allow the Company to progress towards its goal of delivering first gas to market within twelve months without relying on the construction of a processing facility. \n \nAdmission is expected to take place at 8.00 a.m. tomorrow, 1 December 2015, at which point the Placing and the Capital Reorganisation will also become effective.\n \nCapital Reorganisation\nPursuant to the terms of the Capital Reorganisation:\na) the Existing Ordinary Shares of 0.1 pence each will be subdivided into:\ni. one Redenominated Ordinary Share (being an ordinary share in the capital of the Company with a nominal value of 0.01 pence); \nii. one Deferred Share (being a deferred share in the capital of the Company with a nominal value of 0.09 pence); and \nb) the Redenominated Ordinary Shares of 0.01 pence each (resulting from the subdivision referred to in paragraph (a) above) be will consolidated into new ordinary shares of 0.2 pence each (the \"New Ordinary Shares\") on the basis of one ordinary share for every 20 ordinary shares of 0.01 pence each. \n \nThe record date for the Share Consolidation is 5 p.m. today, 30 November 2015, with the Capital Reorganisation becoming effective from Admission, 1 December 2015. The Company's ISIN from Admission will be GB00BZ16J374 and the SEDOL will be BZ16J37.\n \nFor Shareholders holding shares in the Company in certificated form, new share certificates are expected to be dispatched by 10 December 2015. For shareholders holding shares in CREST, CREST accounts wi...