CEO Colin Hutchison bought 270k shares totalling £5k in value as part of the fundraise
Companies: Ascent Resources plc
European O&G exploration and production firm Ascent Resources Plc has told investors that it has completed a £3m institutionally underwritten fundraise on PrimaryBid.
The placing offered investors 161m shares at 1.85p a share, an 18% discount to Friday's close. The Company said it had received strong responses from private and institutional investors, including CEO Colin Hutchinson who chucked in a modest £5k by buying 270,270 shares.
Following the issue, the Company will have 1.5bn ordinary shares in issue, with no further shares are held in treasury.
CEO Colin Hutchinson said he was delighted with the response to the offer and the significant stake taken by private investors:
"It is pleasing that in using PrimaryBid private investors usually excluded from such Offers have been able to participate on the same terms as institutional investors at this exciting time for the Company."
PrimaryBid is a platform that facilitates AIM placings and offers retail investors the chance to take part.
