9th Mar 2015 08:30
LONDON (Alliance News) - Oil and gas explorer Ascent Resources PLC on Monday said it has joined the PrimaryBid.com crowdfunding platform for AIM-listed companies.
PrimaryBid will allow the company raise equity via private investors, Ascent said. It added it has full discretion on whether to proceed with a share placing to raise capital via the platform.
The platform will let investors bid for new shares in Ascent at prices of their choosing, subject to limited restrictions.
"We are pleased to join this new and innovative platform which will allow us to access funding directly from retail investors in a way which has traditionally been very restrictive," said Ascent Chief Executive Officer Leonard Reece.
"We are not actively seeking to raise capital. However the flexibility the platform provides us with the potential to access capital quickly should we choose to do so," Reece added.
Ascent shares were down 18% to 0.1437 pence on Monday morning, one of the worst performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Ascent Resources