Ascent shares decline on open offer plans

Shares in oil and gas company Ascent Resources fell by nearly a third on Friday after the group announced plans to issue shares through an open offer and convertible loan notes as part of its agreement with Henderson Global Investors.

Shares in oil and gas company Ascent Resources fell by nearly a third on Friday after the group announced plans to issue shares through an open offer and convertible loan notes as part of its agreement with Henderson Global Investors.

The company plans to issue either 500m ordinary shares at 0.5p each or 2.5m convertible loan notes at 100p each on the basis of one offer share for every 2.05 existing ordinary shares, or one convertible loan note for every 410 existing ordinary shares.

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