Ascent Resources plc
("Ascent" or the "Company")
Grant of Options and Purchase of Incentive Loan Notes
Ascent Resources plc, the AIM listed European oil and gas exploration and production company, announces that, pursuant to the Ascent Resources 2013 Long Term Incentive Plan, options over 95,647,937 ordinary shares of 0.1 pence each in the share capital of Ascent ("Ordinary Shares") have been granted, exercisable at 1 penny per Ordinary Share. The options will vest at the earlier of 3 years from today's date or upon an event of an exit.
Options have been granted to members of the Board as follows:
Director |
Number of Options Granted |
Clive Carver, Chairman |
26,568,871 |
Leonard Reece, CEO |
69,079,066 |
Furthermore, Clive Carver, Chairman, and Len Reece, CEO, have purchased 17,500 and 63,644 Incentive Loan Notes respectively, as described in the circular sent to shareholders dated 12 April 2013. The Incentive Loan Notes are convertible loan notes of £1 each, convertible into 200 Ordinary Shares, each repayable on 31 January 2015, with a coupon of 9%.
For further information please contact:
Enquiries:
Ascent Resources plc
Clive Carver, Chairman
Tel: +44 (0)20 7251 4905
finnCap (Nominated Adviser and Broker)
Matt Goode / Charlotte Stranner |
Tel: +44 (0) 20 7220 0500
Press Enquiries - Cardew Group
Anthony Cardew/Alexandra Stoneham |
Tel: +44 (0) 20 7930 0777
