TIDMAST

RNS Number : 6469A

Ascent Resources PLC

03 February 2022

3 February 2022

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity and TVR

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused natural resources company, has today issued 1,636,363 new ordinary shares of 0.5 pence each in the Company ("New Ordinary Shares") at an issue price of 3.3 pence.

303,030 New Ordinary Shares have been issued to a consultant in lieu of cash for services provided over the last six months, 242,424 New Ordinary Shares have been issued to staff and 1,090,909 New Ordinary Shares have been issued to Align Research Limited ("Align") in relation to research services to be provided over the next year. Align, who are a substantial shareholder of Ascent, have agreed with the Company not to dispose of any of these New Ordinary Shares for a period of at least three months. This transaction constitutes a related party transaction pursuant to the AIM Rules for Companies. The independent directors (being all of the directors), having consulted with WH Ireland Limited, consider the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 9 February 2022 . The New Ordinary Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary Shares.

Following Admission, the Company will have 129,498,015 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company will be 129,498,015 and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

 
 Ascent Resources plc                      Via Vigo Communications 
  Andrew Dennan 
 WH Ireland, Nominated Adviser & Broker 
  James Joyce / Sarah Mather               0207 220 1666 
 Novum Securities, Joint Broker 
  John Belliss                             0207 399 9400

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOESSWFDDEESEIE

(END) Dow Jones Newswires

February 03, 2022 08:58 ET (13:58 GMT)

Ascent Resources (LSE:AST)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Ascent Resources Charts.
Ascent Resources (LSE:AST)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Ascent Resources Charts.