Update on Loan Facility

RNS Number : 5971Q

Ascent Resources PLC

01 March 2021

 

1 March 2021

Ascent Resources plc

("Ascent" or the "Company")

Update on Align Loan Facility

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, announces an update on its existing Loan Facility.

The Company currently has £125,000 of outstanding indebtedness, pursuant to the Loan Facility announced 1 December 2020, and an available undrawn Loan Facility with the Lenders  of £182,500 of which £120,000 is available to be drawn on 2 March ("Tranche 3") and the balance available of £62,500 for drawdown on 3 April ("Tranche 4").  Further to the Company's announcements on 11 February and 22 February, regards the new equity funding and the Slovenian direct settlement discussions , the Company and the Lenders have mutually agreed to extend the Tranche 3 drawdown date of 2 March to the Tranche 4 date of 3 April. Accordingly the Company may now drawdown, if it wishes, the remaining available loan proceeds of £182,500 in their entirety on 3 April.

Enquiries:

Ascent Resources plc Andrew Dennan	Via Vigo Communications
WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge	0207 220 1666
Novum Securities, Joint Broker John Belliss	0207 399 9400

 

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