ASCENT RESOURCES PLC

Share Issue/Capital Change • Apr 7, 2016

National Storage Mechanism | Additional information

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RNS Number : 4327U

Ascent Resources PLC

07 April 2016

Ascent Resources plc

("Ascent" or "the Company")

£500,000 Placing of shares via Primarybid.com and conversion of loan notes

The Board of Ascent is pleased to announce that it has raised £500,000 gross (£477,500 net to the Company) via the placing of 35,714,285 new ordinary shares of 0.2p each in the Company at a price of 1.4p per Placing Share ("Placing Shares") with investors using the Primarybid.com platform.

These funds will meet the working capital requirements of the Company until the end of Q2 2016 during which time the final outcome of the IPPC Permit and negotiations around an alternative route to first gas are expected.

Issue of equity through conversion of loan notes

Ascent further announces that it has received notices of exercise to convert £81,681 nominal of convertible loan notes ("Loan Notes") plus £10,311.93 interest accrued. The Loan Notes are convertible into new ordinary shares of 0.2p in the Company ("Ordinary Shares") at a rate of 100 new Ordinary Shares per £1 Loan Note nominal or interest.  Consequently, a total of 9,199,293 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the notices.

Accordingly, the Company has £11,963,678.76 of remaining convertible loan notes (including rolled-up interest) due in November 2016.

Admission of Ordinary Shares

The Company has applied for admission of the aggregate 44,913,578 Placing Shares and Conversion Shares to trading on AIM. Dealings are expected to become effective on 12 April 2016 ("Admission"). Following Admission, the Company will have 202,220,478 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company therefore will be 202,220,478 and this figure may be used by shareholders 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 Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

Ascent Resources plc Clive Carver, Chairman Colin Hutchinson, Interim CEO	0207 251 4905
Stockdale Limited, Nominated Adviser Alastair Stratton Richard Johnston Edward Thomas	0207 601 6100
IFC Advisory Ltd, Financial PR and IR                Graham Herring Tim Metcalfe Heather Armstrong	0203 053 8671
PrimaryBid Dave Mutton Anand Sambasivan	020 7491 6519

This information is provided by RNS

The company news service from the London Stock Exchange

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