ASCENT RESOURCES PLC

AGM Information • May 16, 2014

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RNS Number : 3621H

Ascent Resources PLC

16 May 2014

Ascent Resources plc

("Ascent" or the "Company")

Postponement of AGM

Ascent today announced that it has agreed terms for up to £15 million equity funding by way of a subscription for new ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.8 pence per Ordinary Share, and proposals for the redemption and conversion of convertible loan notes outstanding in the Company (collectively the "Proposed Transaction"), all of which are subject to Ascent shareholder approval at a General Meeting to be held at 10.30 a.m. on Thursday 5 June 2014.

The Board of Ascent has therefore decided to postpone the annual general meeting of the Company ("AGM"), originally convened for 11.00 a.m. on Friday 30 May 2014, so that it will now be held at 11.00 a.m. on Thursday 5 June 2014, immediately following the General Meeting to approve the Proposed Transaction.

The venue for the postponed AGM remains the offices of finnCap, 60 New Broad Street, London EC2M 1JJ. Proxy forms already submitted remain valid for the postponed AGM and shareholders who have not yet sent in their proxies will have until 11.00 a.m. on 3 June 2014 to submit them. 

In the event that Ascent shareholders approve the Proposed Transaction at the General Meeting, certain of the resolutions included in the Notice of AGM will no longer be necessary, in which case the Board of Ascent has agreed that AGM resolutions numbered 6, 7 and 8 will not be put to shareholders at the postponed meeting.

Enquiries:

Ascent Resources plc.

Clive Carver / Len Reece

Tel: +44 (0)20 7251 4905

finnCap (Nominated Adviser and Broker)

Charlotte Stranner / Matthew Robinson

Tel: +44 (0) 20 7220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

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