Fundraising Update and Issue of Equity

RNS Number : 3083L

Ascent Resources PLC

29 April 2020

 

Ascent Resources plc

("Ascent" or the "Company")

Fundraising Update and Issue of Equity

29 April 2020

Ascent Resources Plc (LON: AST) the onshore Caribbean / Hispanic American and European oil and gas company, is pleased to announce, further to the previous announcement of 8 April 2020, that it has now settled the first £50k from the relevant investor and as a result has issued 1,000,000 Ordinary shares at a placing price of 5p per share. The investor has confirmed that the balance of £150k will be settled in May 2020.

The Company also announces that a further 91,167  ordinary shares are being issued as a result of the acquisition by the Company of Trameta doo (a Company which owned access to a key section of pipeline in Slovenia) announced on 1 August 2016, where the previous Board agreed that future contingent payment was required if certain production targets were met in Slovenia.  This is the final payment and no further contingent consideration shares are now due.

Application for admission to trading on AIM for the above has been made and admission is expected to take place on or around 5 May 2020.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the above shares, its issued ordinary share capital will comprise 48,382,380 ordinary shares. All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 48,382,380. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

Enquiries:

Ascent Resources plc Andrew Dennan	Via Vigo Communications
WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge	0207 220 1666
SP Angel, Joint Broker Richard Hail, Caroline Rowe	0203 470 0470

 

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