Ascent Resources plc (AST) raises £1.5m via PrimaryBid

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Ascent Resources (AS) Raises £1.5m via PrimaryBid

Fastest ever PrimaryBid Weekend Offer raises £1.5m in less than five hours

PrimaryBid, the leading online funding platform that enables investors to gain access to equity capital raises of listed companies, is pleased to announce the successful completion of an Offer for Ascent Resources plc, the European focused oil & gas exploration and production company (AIM:  AST).

The Offer received exceptionally strong demand from private and institutional investors which led the Company to increase the size of the fundraise raising gross proceeds of £1.5 million.  The Offer was on a “first come, first served” basis, and was closed early at approximately 9:35 p.m. on 27 October 2017.

Dave Mutton, COO of PrimaryBid, said:

“We are delighted to have helped Ascent Resources raise funds again through PrimaryBid.  Our platform has grown from strength-to-strength since we launched, as demonstrated by the speed offers are reaching their target.   Our last two offers have closed early, only hours after launch, both exceeding their goals. It is fantastic to see our existing investors repeatedly taking up the opportunity of commission free, fair access, to fundraises at the same price as institutional investors.

If an investor hasn’t yet signed up on our platform, or downloaded our smartphone App, they run the risk of missing out on the next opportunity.  It is free to join and there is no obligation to invest in any Offer.”

Colin Hutchinson, Chief Executive Officer of Ascent Resources, commented:

“The rapid subscription of the Offer exceeded our expectations.  This is now the fastest take up on one of PrimaryBid’s weekend offers.  We are delighted with the result and would like to thank all the investors on PrimaryBid for supporting us during this exciting time for the Company.”

For full details of the successful offer, please refer to the Company RNS announcement