TIDMAST

RNS Number : 1951F

Ascent Resources PLC

05 March 2020

Ascent Resources plc

("Ascent" or the "Company")

Result of GM and Board Changes

Result of GM

Ascent Resources plc announces that at its General Meeting held earlier today all resolutions were duly passed. Results of the voting will be available on the Company's website in due course.

Board Changes

The Board of Ascent is also pleased to announce that, further to the announcement on 14 February 2020 which outlined the proposed Board changes, the necessary regulatory due diligence has been completed for the appointments of James Parsons and Ewen Ainsworth.

Executive changes

James Parsons, aged 47, has today been appointed to the Board as Executive Chairman.

James has a wealth of corporate and transactional experience on AIM and a demonstrated ability to access capital to fund junior resource plays. He is Executive Chairman of Regency Mines plc and Non-Executive Chairman of Echo Energy plc and Coro Energy plc.

Colin Hutchinson, Finance Director, will step down with immediate effect.

Non-Executive changes

Kristian Ewen Ainsworth, aged 57, has today been appointed to the Board as an independent Non-Executive Director.

Ewen Ainsworth is an experienced AIM company director, currently a Non-Executive director at Regency Mines plc and the CEO of Discovery Energy Limited, an advisory, consultancy and Investment Company. He has worked in a variety of senior and board level roles in the international natural resource sector for over 30 years, most recently as Finance Director for San Leon Energy plc and previously Gulf Keystone Petroleum Limited.

Louis Castro, Non-Executive Chairman, will step down with immediate effect.

John Buggenhagen, CEO of Ascent Resources plc, commented:

"I am excited to have James Parson take over as Chairman and also welcome Ewen Ainsworth as a Non-Executive director. Ascent has had a difficult time over the last few years in the face of permitting and regulatory challenges. I look forward to the future and a new direction for the company.

I want to thank both Louis Castro and Colin Hutchinson for there the efforts and wish them both well in their future endeavours."

Enquiries:

 
 Ascent Resources plc 
  John Buggenhagen, CEO                    0207 251 4905 
 WH Ireland, Nominated Adviser & Broker 
  James Joyce / Chris Savidge              0207 220 1666 
 SP Angel, Joint Broker 
  Richard Hail                             0203 470 0470

APPENDIX

The following details in relation to the appointment of Mr. Parsons are disclosed in accordance with Schedule 2(g) of the AIM Rules:

 
 Current directorships   Past directorships held within the 
                          last five years 
----------------------  --------------------------------------- 
 Regency Mines plc       Sound Energy plc 
  Echo Energy plc         Sound Oil Limited 
  Coro Energy plc         Sound Oil International Limited 
  C4 Energy Limited       (BVI) 
                          Sound Oil (Asia) Limited (BVI) 
                          Mitra Energia Citarum (Mauritius) 
                          Coro Europe Limited 
                          Sound Energy New Co Limited 
                          Sound Energy Morocco South Limited 
                          Sound Energy Morocco East Limited 
                          Sound Energy Meridja Limited 
                          Echo Energy Holidngs (UK) Limited 
                          Echo Energy Bolivia (Op Co 1) Limited 
                          Echo Energy Bolivia (Op Co 2) Limited 
                          Echo Energy Bolivia (Hold Co 1) 
                          UK Limited 
                          Echo Energy Bolivia (Hold Co 2) 
                          UK Limited

The following details in relation to the appointment of Mr. Ainsworth are disclosed in accordance with Schedule 2(g) of the AIM Rules:

 
 Current directorships       Past directorships held within the 
                              last five years 
--------------------------  --------------------------------------- 
 Regency Mines plc           San Leon Energy plc 
  Discovery Energy Limited    Adamant Ventures LLP 
                              Adamant Advisors Limited 
                              Citadel Energy Limited 
                              Nostra Terra Oil and Gas Company 
                              plc 
                              Independent Resources (Egypt) Limited 
                              Nostra Terra Inc.

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ROMSSDFIIESSEID

(END) Dow Jones Newswires

March 05, 2020 10:54 ET (15:54 GMT)

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