Issue of Equity and TVR

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

 

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