ASCENT RESOURCES PLC

AGM Information • Mar 5, 2020

National Storage Mechanism | Additional information

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RNS Number : 1951F

Ascent Resources PLC

05 March 2020

Ascent Resources plc

("Ascent" or the "Company")

Result of GM and Board Changes

Result of GM

Ascent Resources plc announces that at its General Meeting held earlier today all resolutions were duly passed. Results of the voting will be available on the Company's website in due course.

Board Changes

The Board of Ascent is also pleased to announce that, further to the announcement on 14 February 2020 which outlined the proposed Board changes, the necessary regulatory due diligence has been completed for the appointments of James Parsons and Ewen Ainsworth.

Executive changes

James Parsons, aged 47, has today been appointed to the Board as Executive Chairman.

James has a wealth of corporate and transactional experience on AIM and a demonstrated ability to access capital to fund junior resource plays. He is Executive Chairman of Regency Mines plc and Non-Executive Chairman of Echo Energy plc and Coro Energy plc.

Colin Hutchinson, Finance Director, will step down with immediate effect.

Non-Executive changes

Kristian Ewen Ainsworth, aged 57, has today been appointed to the Board as an independent Non-Executive Director.

Ewen Ainsworth is an experienced AIM company director, currently a Non-Executive director at Regency Mines plc and the CEO of Discovery Energy Limited, an advisory, consultancy and Investment Company. He has worked in a variety of senior and board level roles in the international natural resource sector for over 30 years, most recently as Finance Director for San Leon Energy plc and previously Gulf Keystone Petroleum Limited.

Louis Castro, Non-Executive Chairman, will step down with immediate effect.

John Buggenhagen, CEO of Ascent Resources plc, commented:

"I am excited to have James Parson take over as Chairman and also welcome Ewen Ainsworth as a Non-Executive director. Ascent has had a difficult time over the last few years in the face of permitting and regulatory challenges. I look forward to the future and a new direction for the company. 

I want to thank both Louis Castro and Colin Hutchinson for there the efforts and wish them both well in their future endeavours."

Enquiries:

Ascent Resources plc John Buggenhagen, CEO	0207 251 4905
WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge	0207 220 1666
SP Angel, Joint Broker Richard Hail	0203 470 0470

APPENDIX

The following details in relation to the appointment of Mr. Parsons are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Past directorships held within the last five years
Regency Mines plc Echo Energy plc Coro Energy plc C4 Energy Limited	Sound Energy plc Sound Oil Limited Sound Oil International Limited (BVI) Sound Oil (Asia) Limited (BVI) Mitra Energia Citarum (Mauritius) Coro Europe Limited Sound Energy New Co Limited Sound Energy Morocco South Limited Sound Energy Morocco East Limited Sound Energy Meridja Limited Echo Energy Holidngs (UK) Limited Echo Energy Bolivia (Op Co 1) Limited Echo Energy Bolivia (Op Co 2) Limited Echo Energy Bolivia (Hold Co 1) UK Limited Echo Energy Bolivia (Hold Co 2) UK Limited

The following details in relation to the appointment of Mr. Ainsworth are disclosed in accordance with Schedule 2(g) of the AIM Rules:

Current directorships	Past directorships held within the last five years
Regency Mines plc Discovery Energy Limited	San Leon Energy plc Adamant Ventures LLP Adamant Advisors Limited Citadel Energy Limited Nostra Terra Oil and Gas Company plc Independent Resources (Egypt) Limited Nostra Terra Inc.

There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules.

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