REG - Ascent Resources PLC - Option Awards

Ascent ResourcesAnnouncement

11/11/2022 17:00

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RNS Number : 2065G  Ascent Resources PLC  11 November 2022

11 November 2022

Ascent Resources plc

("Ascent" or the "Company")

Option Awards

Ascent Resources Plc (LON: AST), the onshore Hispanic American and European
focussed energy and natural resources company, announces an award of options.

The Company announces the grant of an aggregate of 4,600,000 options over
Ordinary shares of the Company to certain employees. Of the total options
awarded the Executive Chairman and the Chief Executive Officer were each
awarded options over 1,500,000 Ordinary shares and the Non-Executive Directors
were each awarded options over 500,000.

The five year options were granted on 11 November 2022 and have a three year
vesting period and entitle each holder to exercise at a price of 5p.  The
performance vesting criteria for the options is the execution of a cash
generating ESG Metals transaction consistent with the Company's strategy.

The Board has awarded the following options:

                      Award      Strike Price  Expiry Date
 James Parsons        1,500,000  £0.05         10 November 2027
 Andrew Dennan        1,500,000  £0.05         10 November 2027
 Malcolm Graham Wood  500,000    £0.05         10 November 2027
 Stephen Birrell      500,000    £0.05         10 November 2027

 

Following the grant of options, the resultant Directors' shareholdings are as
follows:

 

 Directors            Ordinary shares  % of Issued Share Capital  Options

 James Parsons        500,900          0.369                      2,885,894
 Andrew Dennan        2,140,000        1.578                      2,885,894
 Malcolm Graham Wood  0                                           500,000
 Stephen Birrell      0                                           500,000

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                                              1.    James Parsons

                                                                                       2.    Andrew Dennan

                                                                                       3.    Malcolm Graham-Wood

                                                                                       4.    Stephen Birrell
 2   Reason for the notification
 a)  Position/status

                                                                                       1.    PDMR (Executive Chairman)

                                                                                       2.    PDMR (Chief Executive Officer)

                                                                                       3.    PDMR (Non-executive Director)

                                                                                       4.    PDMR (Non-Executive Director)

 b)  Initial notification/Amendment                                                    Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Ascent Resources plc
 b)  LEI                                                          213800Q8R5GV7DLNEL37
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of £0.005 each
     Identification code                                          GB00BJVH7905
 b)  Nature of the transaction                                    Award of options
 c)  Price(s) and volumes(s)                                      Price(s)                                  Volume(s)
                                                                  1.    £0.05

                                                                  2.    £0.05                               1.    1,500,000

                                                                  3.    £0.05                               2.    1,500,000

                                                                  4.    £0.05                               3.    500,000

                                                                                                            4.    500,000
 d)  Aggregated information                                       N/A
     Aggregated volume                                            N/A
     Price                                                        £0.05
 e)  Date of the transaction                                      11 November 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 

 

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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