LONDON (Alliance News) - Ascent Resources PLC, the AIM-listed European oil and gas exploration and production company, on Monday said it has received a notice to convert convertible loan notes issued in May 2013 as part of an open offer to shareholders into new shares.
The notes, including rolled up interest, are convertible into new shares at a rate of 100 new shares per GBP1 loan note, with 99,334 new shares to be issued.
There will be GBP10.4 million of nominal convertible loan notes, including rolled-up interest, still outstanding after the conversion.
Shares in Ascent were up 4.3% at 0.600p Monday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Ascent Resources (AST)