26th Mar 2014 12:57
LONDON (Alliance News) - Ascent Resources PLC Wednesday said it is to issue 393,514 new shares after receiving notice of an intention to exercise rights to convert 1,841 convertible loan notes into shares.
The exercise price is 0.5 pence a share.
Ascent shares were Wednesday quoted on AIM at 0.717 pence, down 1.1%.
The notes were issued in May 2013 as part of an open offer to all shareholders, according to the European oil and gas exploration and production company.
Admission is expected for April 1, resulting in Ascent having 1.45 billion shares in issue.
By Samuel Agini; [email protected]; @samuelagini
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