Award of Options

RNS Number : 3613X

Ascent Resources PLC

05 May 2016

 

5 May 2016

Ascent Resources plc

("Ascent" or "the Company")

Award of Options

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company is pleased to announce that on 5 May 2016, 71,328,006 new options were granted exercisable at 1.58 pence, the closing mid-market price on 4 May 2016.  This is the first award of options since April 2013.

The recipients include Directors of the Company as follows:

Colin Hutchinson	34,964,709
Clive Carver	13,985,884
Nigel Moore	6,992,942
Cameron Davies	6,992,942

The award is subject to the rules of the 2013 Incentive Scheme, they are not exercisable, unless otherwise provided for under the rules of the scheme for a period of three years from the date of grant.  The options will be capable of exercise for a period of ten years from the date of grant.

The only options currently held by Directors are exercisable at 20 pence and were awarded in April 2013; the recipients are summarised below:                                                   

Colin Hutchinson	265,688
Clive Carver	1,328,443

Enquiries:

Ascent Resources plc Clive Carver, Chairman Colin Hutchinson, CEO	0207 251 4905
Stockdale Securities Limited, Nominated Adviser Alastair Stratton Edward Thomas Richard Johnson	0207 601 6100
IFC Advisory Ltd, Financial PR and IR                Graham Herring Tim Metcalfe Heather Armstrong	0203 053 8671

 

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