REG - Ascent Resources PLC - Beryl International Subscription Update

Ascent ResourcesAnnouncement

21/03/2023 14:15

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RNS Number : 7496T  Ascent Resources PLC  21 March 2023

21 March 2023

Ascent Resources plc

("Ascent" or the "Company")

Beryl International Subscription Update

Ascent Resources Plc (LON: AST), the onshore Hispanic American and European
focussed energy and natural resources company, announces an update to the
settlement of the Beryl International ("Beryl") strategic subscription, as
previously announced 23 February 2023.

The Company has been advised that, following the inclusion of South Africa to
the FATF's 'grey list' on 24 February 2023 and the consequent additional
processes required to complete international funds transfers out of South
Africa, the direct subscription from Beryl, as announced on 23 February 2023,
has now been delayed. As a result admission of the new ordinary shares
pursuant to the announcement on 23 February 2023 has also been delayed. It is
now expected that settlement of the £1 million subscription at 4 pence per
new subscription share will take place in one full £1 million tranche on
completion of the capitalisation of the Mauritius domiciled special purpose
vehicle created by Beryl for this investment. Beryl has confirmed to that
Company that it remains committed to fulfilling its obligations and concluding
its strategic investment and expects to be able to do so within the next eight
weeks. Further updates will be announced in due course.

 

Enquiries:

 Ascent Resources plc                        Via Vigo Communications

 Andrew Dennan
 WH Ireland, Nominated Adviser & Broker      0207 220 1666

 James Joyce / Sarah Mather
 Novum Securities, Joint Broker              0207 399 9400

 Jon Belliss

About Beryl International (Pty) Ltd

Beryl International (Pty) Ltd is a pan-African diversified investment company,
chaired by Mr Neverl Kambasha, which focuses on making and managing select
strategic proprietary equity investments in a balanced portfolio of medium and
large capitalised companies spanning across various sectors including i)
logistics, rails and ports; ii) financial services; iii) mining and mineral
resources; iv) agriculture; and v) energy.

 

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