REG - Ascent Resources PLC - Completion of Strategic Investment & TVR

Ascent ResourcesAnnouncement

11/10/2023 10:45

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RNS Number : 7974P  Ascent Resources PLC  11 October 2023

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

11 October 2023

Ascent Resources plc

("Ascent" or the "Company")

Completion of Strategic Investment & TVR

Ascent Resources Plc (LON: AST), the onshore Hispanic American and European
focussed energy and natural resources company, is pleased to announce the
completion of MBD Partners SA's ("MBD") strategic equity investment and
confirm updated total voting rights.

Completion of Strategic Investment

Ascent is pleased to confirm that it has received payment of £1,500,000 in
relation to the MBD strategic equity investment announced on 3 October 2023.
Accordingly, today the Company has issued MBD with 42,857,143 new ordinary
shares of 0.5 pence each (the "Subscription Shares") in the Company at the
Subscription Price of 3.5 pence per new ordinary share. Furthermore, the
Company expects to convene a general meeting shortly to put forward the
resolutions relating to the issue of new warrants as announced on the 3
October 2023.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Subscription
Shares to be admitted to trading on AIM ("Admission") and it is expected that
such Admission will occur at 8.00 a.m. on 17 October 2023. The Subscription
Shares will be issued credited as fully paid and will rank in full for all
dividends and other distributions declared, made or paid after the admission
of the Subscription Shares, respectively and will otherwise be identical to
and rank on Admission pari passu in all respects with the existing Ordinary
shares.

Following Admission of the Subscription Shares, expected to occur at 8:00 a.m.
on 17 October 2023, the Company will have 208,608,491 Ordinary Shares in
issue, none of which will be held in treasury. Accordingly, the total number
of voting rights in the Company will be 208,608,491 and shareholders may use
this figure as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

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

 

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