Business
Grant of Options/ Purchase of Incentive Loan Notes
Grant of Options/ Purchase of Incentive Loan Notes.
About this update from Ascent Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8045D Ascent Resources PLC 02 May 2013 \n \n\nAscent Resources plc\n(\"Ascent\" or the \"Company\")\nGrant of Options and Purchase of Incentive Loan Notes\nAscent 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.\nOptions have been granted to members of the Board as follows:\n\n\n\n\nDirector\n\n\nNumber of Options Granted\n\n\n\n\nClive Carver, Chairman\n\n\n26,568,871\n\n\n\n\nLeonard Reece, CEO\n\n\n69,079,066\n\n\n\n\n \nFurthermore, 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%.\nFor further information please contact:\nEnquiries:\nAscent Resources plc\nClive Carver, Chairman\nTel: +44 (0)20 7251 4905\n \nfinnCap (Nominated Adviser and Broker)\n\n\n\n\nMatt Goode / Charlotte Stranner \n\n\n\n\nTel: +44 (0) 20 7220 0500\n \nPress Enquiries - Cardew Group\n\n\n\n\nAnthony Cardew/Alexandra Stoneham \n\n\n\n\nTel: +44 (0) 20 7930 0777\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCABMFTMBJMBIJ\n ","length":3548,"tagName":"div"}]