Little assistant please21 Feb 2024 10:51
Guys can someone kindly help me understand the following email i got for another holding ive had for years but been in the dumps.
Apologies its a sidetrack from glr but i really appreciate it.
What has happened?
Ascent Resources Plc has announced a bonus issue of stock. Under the terms of the bonus issue, shareholders at the close of business on 15 February 2024 will receive 1 new unlisted preference share for every 1 ordinary share held. This unlisted preference share gives the holder an entitlement to the economic interest in 49% of any net proceeds relating to an Energy Charter Treaty claim (ECT claim) in the event of a successful claim outcome.
The company have not announced a date on which the new shares are expected to be credited.
The bonus issue is subject to shareholder approval at an general meeting (GM) on 4 March 2024.