Director Options

RNS Number : 7546N

Ascent Resources PLC

07 September 2011

 



Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

7 September 2011

Ascent Resources plc ('Ascent' or 'the Company')

Director Options

Ascent Resources plc, the AIM-traded European oil and gas exploration and production company, announces that it has today issued options over a total of 5 million new ordinary shares in the Company.  The options represent in aggregate 0.49% of the existing issued share capital.  The options are exercisable from 30 June 2012 to 7 September 2016 and were issued following the Company exiting a close period.  These options relate to a contractual review due after six months employment on 30 June 2011 for Scott Richardson Brown.

The options have been issued as follows: 

	Options	Exercise	Expiry
	Issued	Price	Date
S. Richardson Brown	2,500,000	5.00p	28/07/2016
	2,500,000	12.00p	28/07/2016

Following the issue the interests of Scott Richardson Brown are as follows: 

	Options	Existing	Ordinary	Total	% of issued
	Issued	Options	Shares	Interest	Capital
S. Richardson Brown	5,000,000	2,000,000	200,000	7,200,000	0.70%

* * ENDS * *

For further information visit www.ascentresources.co.uk or contact:

Jeremy Eng	Ascent  Resources plc	Tel: [phone]
Scott Richardson Brown
Sarah Wharry	finnCap Ltd (NOMAD & Broker)	Tel: [phone]
Ben Thompson
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Felicity Edwards

Notes:

Ascent Resources plc has a diversified portfolio of hydrocarbon exploration and development interests across five countries in Europe: Slovenia, Hungary, Italy, Switzerland, and Netherlands.  Its portfolio contains a solid base of field redevelopment projects with selected exposure to exploration upside.  The portfolio is focussed on gas and with the exception of the shallow water Netherlands project, all of its projects are located onshore where operating and development costs are substantially lower than they would be offshore.

 

END

 

 

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