Grant of Options/ Purchase of Incentive Loan Notes

RNS Number : 8045D

Ascent Resources PLC

02 May 2013

 



Ascent Resources plc

("Ascent" or the "Company")

Grant of Options and Purchase of Incentive Loan Notes

Ascent Resources plc, the AIM listed European oil and gas exploration and production company, announces that, pursuant to the Ascent Resources 2013 Long Term Incentive Plan, options over 95,647,937 ordinary shares of 0.1 pence each in the share capital of Ascent ("Ordinary Shares") have been granted, exercisable at 1 penny per Ordinary Share. The options will vest at the earlier of 3 years from today's date or upon an event of an exit.

Options have been granted to members of the Board as follows:

Director	Number of Options Granted
Clive Carver, Chairman	26,568,871
Leonard Reece, CEO	69,079,066

Furthermore, Clive Carver, Chairman, and Len Reece, CEO, have purchased 17,500 and 63,644 Incentive Loan Notes respectively, as described in the circular sent to shareholders dated 12 April 2013. The Incentive Loan Notes are convertible loan notes of £1 each, convertible into 200 Ordinary Shares, each repayable on 31 January 2015, with a coupon of 9%.

For further information please contact:

Enquiries:

Ascent Resources plc

Clive Carver, Chairman

Tel: [phone]

finnCap (Nominated Adviser and Broker)

Matt Goode / Charlotte Stranner

Tel: [phone]

Press Enquiries - Cardew Group

Anthony Cardew/Alexandra Stoneham

Tel: [phone]

 

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