Business
Successful fundraising of £1.5m via PrimaryBid
Successful fundraising of £1.5m via PrimaryBid.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9040U Ascent Resources PLC 30 October 2017 \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 \n30 October 2017\nAscent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas\n \nAscent Resources plc\n(\"Ascent\" or the \"Company\")\nSuccessful fundraising of £1.5 million via PrimaryBid\nAscent Resources plc, the European focused oil & gas exploration and production company (AIM: AST), announced on 27 October 2017 the launch of an institutionally underwritten Offer to raise approximately £1 million at 1.66 pence per New Ordinary Share. The Offer successfully completed and closed early at 9:35 p.m. on 27 October 2017.\n \nThe PrimaryBid Offer received exceptionally strong demand from private and institutional investors which led the Company to increase the size of the fundraise. The gross proceeds of the Offer are £1.5 million.\n \nThe Company will therefore issue and allot a total of 96,385,541 New Ordinary Shares to satisfy the Offer, including settling certain professional fees by the issue of 6,024,096 New Ordinary Shares at the Issue Price. 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 2 November 2017. \n \nTotal Voting Rights\n \nFollowing the issue of the New Ordinary Shares, the Company will have 2,248,750,320 ordinary shares of 0.2 pence each in issue. No Ordinary Shares are held in treasury. The figure of 2,248,750,320 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 interest in, or a change to their interest in, ...