Ascent Resources plc

04/07/2021 | Press release | Distributed by Public on 04/07/2021 11:24

Update on Align loan facility

7 April 2021

Ascent Resources plc

('Ascent' or the 'Company')

Update on Align Loan Facility

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company,announces an update on its existing Loan Facility.

The Company currently has £125,000 of outstanding indebtedness, pursuant to the Loan Facility announced 1 December 2020, and an available undrawn Loan Facility with the Lenders of £182,500 of which, further to the announcement of 1 March, was available to be drawn down on the 4 April. The Company and the Lenders have now further mutually agreed to extend the draw down date for the remaining available loan proceeds to 4 May 2021, accordingly the Company may now drawdown, if it wishes, the remaining available loan proceeds of £182,500 in their entirety on 4 May.

As one of the Lenders, Align Research Limited, is a substantial shareholder of Ascent, this transaction constitutes a related party transaction pursuant to the AIM Rules for Companies. The independent directors (being all of the directors), having consulted with WH Ireland Limited, consider the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.


Ascent Resources plc

Andrew Dennan

Via Vigo Communications

WH Ireland, Nominated Adviser & Broker

James Joyce / Chris Savidge

0207 220 1666

Novum Securities, Joint Broker

John Belliss

0207 399 9400