RNS text18 Jan 2019 17:15
RNS Number : 5577N
Ascent Resources PLC
18 January 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF ASCENT RESOURCES PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)
18 January 2019
ASCENT RESOURCES PLC
("Ascent" or the "Company") (AIM: AST)
PrimaryBid.com Offer
Ascent Resources plc (AIM: AST), the AIM listed oil and gas exploration and production company focused on Slovenia and Central Europe, is pleased to announce, an offer via PrimaryBid (the "Offer") of new ordinary shares of 0.2p each in the Company ("New Ordinary Shares") at an issue price of 0.3 pence per New Ordinary Share (the "Issue Price"), being a discount of 20 per cent to the closing mid-price on 17 January 2019.
As announced on 14 January 2019 the Board of Ascent has resumed its previous strategy to expand its interests beyond Slovenia while continuing to focus on a way forward to develop the significant reserves at Petišovci to deliver growth to its shareholders.
The Company will use the funds raised for general working capital, to develop the Petisovci project and to progress a number of identified opportunities to grow the Company outside of Slovenia.
Offer
The fundraise has been facilitated by Stanford Capital Partners Ltd. The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.
The Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from 5.00 p.m. on 18 January 2018 to 5.00 p.m. on 20 January 2019. The Offer may close early if it is oversubscribed.
Subscriptions under the Offer will be considered by the Company on a "first come, first served" basis, subject to conditions (which are available to view on PrimaryBid.com) with any investment request over £50,000 first requiring consultation with the Company.
No commission is charged to investors