REG - Ascent Resources PLC - Update on Align loan facility

Ascent ResourcesAnnouncement

07/04/2021 18:25

RNS Number : 7468U
  
Ascent Resources PLC
  
07 April 2021
  
 

7 April 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, further to the announcement of 1 March, was available to be drawn down on the 4 April. The Company and the Lenders have now further mutually agreed to extend the draw down date for the remaining available loan proceeds to 4 May 2021, accordingly the Company may now drawdown, if it wishes, the remaining available loan proceeds of £182,500 in their entirety on 4 May. 
As one of the Lenders, Align Research Limited, is a substantial shareholder of Ascent, 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.
 
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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