ASCENT RESOURCES PLC — Share Issue/Capital Change 2016

Oct 27, 2016

National Storage Mechanism | Additional information

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RNS Number : 6317N

Ascent Resources PLC

27 October 2016

27 October 2016

Ascent Resources plc

("Ascent", the "Group", or the "Company")

Further re Placing - Directors' subscriptions

The Board of Ascent (AIM: AST) announces that, subsequent to the announcement this morning of the Placing to raise up to £4.5 million (gross of expenses), the Company's Directors have today entered into agreements to subscribe for a total of £50,000 in principal of new 2016 Loan Notes in the amounts shown below:

Director                               2016 Loan Notes

Clive Carver                            £13,333

Colin Hutchinson                   £10,001

Cameron Davies                    £13,333

Nigel Moore                           £13,333

The 2016 Loan Notes being subscribed by the Directors are in addition to, and will rank pari passu with, the £1.0m in principal amount of 2016 Loan Notes subscribed in the Placing announced earlier today and are convertible into new ordinary shares at 1p per ordinary share, being the same price as the Placing Price.    

Enquiries:

Ascent Resources plc                                                                                                         0207 251 4905

Clive Carver, Chairman

Colin Hutchinson, CEO

Stockdale Securities Limited, Nominated Adviser and Broker                         020 7601 6100

Richard Johnson

Andy Crossley

Northland Capital Partners Limited, Broker                                                             020 3861 6625

Tom Price

John Howes      

Abigail Wayne

IFC Advisory Ltd, Financial PR and IR                                                                            0203 053 8671                                        

Graham Herring

Tim Metcalfe

Heather Armstrong

Definitions in this announcement shall have the same meaning as in the Company's announcement of the Placing earlier today unless otherwise stated.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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