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Thu, 30th Apr 2015 16:57
LONDON (Alliance News) - Ascent Resources PLC Thursday said it will convert 420 loan notes into ordinary shares of 0.1 pence each.
Consequently, a total of 473,030 new ordinary shares will be issued pursuant to the notice, the oil and gas company said.
Shares in Ascent closed down 6.9% at 0.303 pence on Thursday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Shares in Ascent Resources surged 12% after the company said it has reached an agreement with EnQuest to restructure a debt of approximately £3m due for repayment in December 2015 into around £2m of convertible loan notes. In December, Ascent entered into an agreement with fellow oil and gas company
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