Issue of Equity

RNS Number : 8876H

Ascent Resources PLC

20 November 2018

 

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 22,500,000 new ordinary shares of 0.2p each in the Company ("Ordinary Shares"), comprising Tranche 3 of the shares due under the Trameta Sale and Purchase agreement ("the SPA") as detailed in the Company's announcement of 1 August 2016.  These new Ordinary Shares were due on the first anniversary of the date when, in aggregate, 1 million cubic metres of gas have been transported through the Croatian Export Pipeline which occurred on 20 November 2017. The new Ordinary Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

There is one further tranche of shares potentially issuable under the SPA. 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 22,500,000 new Ordinary Shares ("Admission"). Admission is expected to occur on 26 November 2018.

Following Admission, Ascent will have 2,291,310,686 Ordinary Shares in issue.  There are no shares held in treasury, therefore, following Admission, this figure may be used by shareholders as the denominator for calculations by which they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Ascent Resources plc                                                                                                     0207 251 4905

Clive Carver, Chairman

Colin Hutchinson, CEO

WH Ireland, Nominated Adviser and Broker                                                            0207 220 1666

James Joyce / Chris Viggor

Yellow Jersey PR                                                                                                             0203 735 8825                        

Tim Thompson / Harriet Jackson / Henry Wilkinson

 

END

 

 

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