RGM.L Share News (RGM)

RGM.L Information

There is currently no data for RGM

Ascent Shares Dive Amid Board Changes, Share Reorganisation

Fri, 14th Feb 2020 12:20

(Alliance News) - Ascent Resources PLC on Friday proposed a share consolidation, to turn every 100 shares into one share as it announced its intent to raise GBP800,000 through the placing of 16 million shares at a post-consolidation price of 5.0 pence each.

The placing is equivalent to 1.6 billion shares at 0.05p each pre-consolidation. The stock was trading 34% lower at 0.062 pence each.

The oil & gas exploration company said it is proposing the share re-organisation as it considers the move to be in the best interests of the company's long-term development. Following the consolidation, Ascent will have 30.2 million shares in issue.

Following the consolidation and admission of the placing shares, the Ascent's total issued share capital will comprise 46.2 million shares.

The London-based company also said Chair Louis Castro and Finance Director Colin Hutchinson will step down at the next general meeting. No reason was given for their resignation.

James Parson is proposed to join as executive chair. Parsons is currently executive chair of Regency Mines PLC and non-executive chair of gas exploration company Echo Energy PLC and Coro Energy PLC.

Ascent has also proposed that Ewen Ainsworth and Leonardo Salvadori join the company as independent non-executive directors.

Ainsworth is currently a non-executive director at Regency Mines and chief executive of consultancy & investment company Discovery Energy Ltd. He is also non-executive chair at Nostra Terra Oil and Gas Company PLC.

Salvadori is currently managing director for Coro Energy in Italy and has over 35 years of operational and technical oil and gas experience, Ascent said.

Separately, Ascent confirmed it has cancelled its existing Equity Sharing Agreement with RiverFort Global Opportunities PCC Ltd. The outstanding USD421,943 loan with Riverfort has been re-negotiated to a two-year coupon free bullet with conversion rights for the lender at 0.075 pence per share, Ascent said. The 43 million warrants initially to be awarded to Riverfort, as announced in September will no longer be awarded.

By Ife Taiwo; ifetaiwo@alliancenews.com

More News

13 Feb 2013 14:09

Regency Mines shares jump on positive progress at nickel mine

Regency Mines surged Wednesday as the company reported progress in the testing of nickel at a mine in Perth, Australia. The mining company's partner Direct Nickel said the first stage of its nickel extraction process at the test plant in Perth showed promising results. Direct has developed a hydr

25 Apr 2012 15:09

Resources round-up: International Ferro, Forum Energy, Regency Mines

International Ferro Metals, the AIM-listed integrated ferrochrome producer, moved back into overall profitability on a monthly basis for March, with 37.5 per cent of targeted production cost savings achieved during the quarter ended March 31st. During the period net borrowings decreased from ZAR 4

9 Feb 2012 11:07

Small caps round-up: Monitise, YouGov, 1pm ...

Monitise has announced a collaboration with Visa, in which Visa DPS will use Monitse's mobile services. The services allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transactio

4 Oct 2011 16:21

Regency Mines slumps on operational update

Regency Mines saw its share price fall almost 10% after it gave an update on its performance. The group's versatile time-domain electro-magnetic survey is finishing at the two copper-gold prospective tenements in Bundarra, central Queensland, in which the company has a 100% interest. The results

18 Jan 2011 16:39

New Sirius Minerals finance boss invests £99,000

Potash explorer Sirius Minerals' new finance director Andrew Lindsay has invested £99,000 in the company following his appointment. Lindsay was appointed on the same day that Sirius announced its acquisition of York Potash. He was previously finance director of AIM-quoted European Nickel. He has

30 Dec 2010 16:55

London close: Footsie winds down as 2011 nears

London closed shy of the 6,000 mark after a late dip in very light volumes with little for either buyers or sellers to get their teeth into. Fresnillo was an exception thanks to another strong day on the metals exchanges as silver hit a new 30-year high. Copper traded above $9,500 per tonne on the

30 Dec 2010 12:23

London midday: Traders go 'cold turkey' on shares

Traders are regarding UK shares with all the enthusiasm of someone being offered another round of cold turkey sandwiches, as the lull between Christmas and New Year continues. Fallers outnumber risers by around two to one among Footsie constituents, with miners reflecting the mixed picture. Silver

30 Dec 2010 11:07

Regency makes maiden profit

AIM and Frankfurt listed nickel and copper miner Regency Mines has moved into the black for the first time. The company reported a profit before tax of £0.60m in the year to 30 June, compared to a loss of £0.71m the year before. The profit was primarily due to a turnaround in the associate company

30 Nov 2010 12:37

Small caps round-up: Cluff Gold, Regency Mines, Beacon Hill

West African-focused miner Cluff Gold has intercepted "significant" sulphide mineralisation in the ongoing drilling programme at the Kalsaka mine in Burkina Faso. "We are very pleased with the encouraging results encountered at our exploration programmes at Kalsaka, which demonstrate the high pros

12 Nov 2010 15:34

Small caps round-up: Caledonia Mining, Hardy Underwriting, Tangent Comms ...

Caledonia Mining made a third quarter net profit of C$1.64m, up from C$826,000 a year ago, on revenue up 28% to C$6.33m. It sold 4,934 ounces of gold at an average sale price of US$1,241 per ounce and a cash cost of US$651 per ounce. The Blanket mine ramped up production by 45% as the first standby

29 Jun 2010 14:06

Regency Mines Raises GBP0.2M In 15.5M Share Placing

LONDON (Dow Jones)--Regency Mines PLC (RGM.LN), a mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea Tuesday announces that it has placed 15,500,000 new ordinary shares of 0.1 pence each in the Company at 1.1 p

23 Jun 2010 11:57

Regency Mines Phase 1 Reconnaissance Air Core Drilling Success

LONDON (Dow Jones)--Regency Mines PLC (RGM.LN), a mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea said Wednesday that it has successfully carried out Phase 1 of its reconnaissance air core drilling programme

8 Sep 2009 17:01

London close: Footsie clings on to gains

Leading London shares closed mixed, with strong gains on resource stocks counter-balanced by losses on life assurance stocks. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources led the mining sector higher, as metal prices improved. Gold miners Fresnillo and Randgold Resources were

8 Sep 2009 13:56

London afternoon: Holiday stocks take flight

After opening brightly London's leading shares have been treading water since the middle of the morning. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources lead the mining sector higher, as metal prices improve. Gold miner Randgold Resources is wanted after the price of gold bullio

8 Sep 2009 10:43

Regency Mines encouraged by drilling results

Mining exploration and mineral investment company Regency Mines declared the drilling results of its Botue-Mambare nickel exploration project to be 'highly encouraging'. The company said the drilling programme at Mambare, which completed at the end of 2008, produced 4,000m of drilled core and more

Latest Share Chat

RGM.L Share News (RGM)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ascent Shares Dive Amid Board Changes, Share Reorganisation

Login to your account

Quickpicks are a member only feature

Login to your account