LONDON (Alliance News) – Ascent Resources PLC on Monday said it has issued 88.2 million shares through the conversion of 795,405 loan notes of GBP1.0 each.
573,183 loan notes were issued in 2013 as part of an open offer to shareholders and were convertible into new shares at a rate of 100 shares per loan note.
222,222 loan notes were issued to Henderson Global Investors and EnQuest PLC between 2014 and 2015, and were convertible into new shares at the same rate.
Following this, GBP1.3 million of convertible loan notes remain outstanding.
Ascent Resources shares were trading down 3.5% at 1.64 pence on Monday.
By Karolina Kaminska; email@example.com; @KarolinaAllNews
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