Business
Riverfort Amendment, Share Settlements & TVR
Ascent Resources plc has amended its secured loan facility with Riverfort Global Opportunities PCC Ltd, satisfying US$100,000 of a US$250,000 repayment through the issuance of 14,925,373 new ordinary shares at 0.5 pence each, while extending the remaining US$150,000 to June 6, 2026, with a US$6,000 extension fee and £7,500 in legal costs added to the balance. Additionally, Ascent is settling approximately £35,000 of trade creditors by issuing 6,969,740 new ordinary shares at 0.5 pence each, preserving cash for operations. Following these share issuances, Ascent will have 832,210,587 ordinary shares in issue, and Riverfort will receive 7,462,686 additional Preference 2 shares. Disclaimer*
About this update from Ascent Resources Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PLEASE SEE THE SECTION ENTITLED \"IMPORTANT INFORMATION\" TOWARDS THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n19 May 2026\nAscent Resources plc\n(\"Ascent\" or the \"Company\")\nRiverfort Facility Amendment, Share Settlements and Total Voting Rights\nAscent Resources Plc (LON: AST), the onshore US focused oil and gas company, is pleased to announce that it has today entered into a Deed of Amendment and Restatement with Riverfort Global Opportunities PCC Ltd (\"Riverfort\") in respect of its existing secured loan facility.\nFurther to the US$250,000 repayment due on 21 April 2026, the Company has agreed with Riverfort that US$100,000 of this amount will be satisfied by the issue of 14,925,373 new ordinary shares of 0.5 pence each at a price of 0.5 pence per share. The remaining US$150,000 has been extended to 6 June 2026 in consideration for a US$6,000 extension fee payable in cash. Legal and professional costs of £7,500 have been added to the outstanding balance. Riverfort will also receive 7,462,686 additional Preference 2 (or SPV 2) Shares in accordance with the Company's existing contractual obligations.\nAt the same time, the Company is settling approximately £35,000 of outstanding trade creditors by the issue of 6,969,740 new ordinary shares at the same price of 0.5 pence per share. This settlement of trade creditors by way of share issuance forms part of the Company's proactive management of its working capital. It enables the Company to preserve cash resources for core operational activities and strategic development priorities in its US oil and gas business pending future plans to seek further finance, while further strengthening the ba...