REG - Ascent Resources PLC - Issue of Equity and TVR

Ascent ResourcesAnnouncement

03/02/2022 14:00

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RNS Number : 6469A  Ascent Resources PLC  03 February 2022

3 February 2022

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity and TVR

 

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and
European focused natural resources company, has today issued 1,636,363 new
ordinary shares of 0.5 pence each in the Company ("New Ordinary Shares") at an
issue price of 3.3 pence.

303,030 New Ordinary Shares have been issued to a consultant in lieu of cash
for services provided over the last six months, 242,424 New Ordinary Shares
have been issued to staff and 1,090,909 New Ordinary Shares have been issued
to Align Research Limited ("Align") in relation to research services to be
provided over the next year. Align, who are a substantial shareholder of
Ascent, have agreed with the Company not to dispose of any of these New
Ordinary Shares for a period of at least three months. 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.

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM ("Admission") and it is expected that
such Admission will occur at 8.00 a.m. on  9 February 2022 . The New
Ordinary Shares will be issued credited as fully paid and will rank in full
for all dividends and other distributions declared, made or paid after
Admission and will otherwise be identical to and rank on Admission pari
passu in all respects with the existing Ordinary Shares.

 

Following Admission, the Company will have 129,498,015 Ordinary Shares in
issue. The Company does not hold any Ordinary Shares in treasury. Accordingly,
the total number of voting rights in the Company will be 129,498,015 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

 John Belliss

 

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