Issue of Equity

RNS Number : 4239Q

Ascent Resources PLC

12 September 2017

 

12 September 2017

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, notifies that it has issued 5,000,000 new ordinary shares of 0.2p each in the Company ("Ordinary Shares"), comprising Tranche 1 of the shares due under the Trameta Sale and Purchase (the "SPA") agreement as detailed in the Company's announcement of 1 August 2016.  These new Ordinary Shares were due on the first anniversary of completion.

There are three further tranches of shares potentially issuable under the SPA

-      Tranche 2 consists of 20,000,000 new Ordinary Shares and will be issuable on the first anniversary of the recertification of the export pipeline on the Slovenian side of the border which occurred on the 4 November 2016.

-      Tranche 3 consists of 22,500,000 new Ordinary Shares and will be issuable on the first anniversary of the date when, in aggregate, 1 million cubic metres of gas have been transported through the Croatian Export Pipeline.

-      Tranche 4 consists of 27,500,000 new Ordinary Shares and will be issuable on the first anniversary of the date when in aggregate 50 million cubic metres of gas have been transported through the Croatian Export Pipeline.

Admission and Settlement

Application has been made for the admission to trading on AIM of the 5,000,000 new Ordinary Shares ("Admission"). Admission is expected to occur on 18 September 2017.  Following Admission, Ascent will have 2,152,364,779 Ordinary Shares in issue.  There are no shares held in treasury.  The total voting rights in the Company is therefore 2,152,364,779 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

For further information, please contact:

Ascent Resources plc                                                                                                     0207 251 4905

Clive Carver, Chairman

Colin Hutchinson, CEO

Stockdale Securities Limited (Nominated Adviser & Joint Broker)                     0207 601 6100

Richard Johnson

Edward Thomas

Northland Capital Partners Limited (Joint Broker)                                                  0203 861 6625

Tom Price

Yellow Jersey PR                                                                                                             0203 735 8825                        

Tim Thompson
Henry Wilkinson

 

END

 

 

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