Business
Private Placement and Loan Conversion
Ascent Resources plc has raised £400,000 in gross proceeds through a private placement of 80,000,000 new ordinary shares at 0.5 pence per share, with net proceeds of £387,500 intended for strategy development and working capital. Additionally, US$150,000 of outstanding principal was converted into 22,727,270 new ordinary shares and 11,363,635 Preference 2 Shares, with a remaining balance of US$1,004,469.43 on the Riverfort CLN. Each placing share includes two warrants exercisable at 0.5 pence for four years, featuring a reset mechanism. Application will be made for the admission of these new shares to trading on AIM, expected around 26 June 2026, bringing the total voting rights to 934,937,857. Disclaimer*
About this update from Ascent Resources Plc
NOT 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. THIS 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. 22 June 2026 Ascent Resources plc ("Ascent" or the "Company") Private Placement and Loan Conversion Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, is pleased to announce that it has raised gross proceeds of £400,000 through a private placement of new ordinary shares in the Company (the "Placing"). Highlights § Gross proceeds of £400,000 raised at a price of 0.5 pence per new ordinary share; § 200% warrant cover - two (2) warrants attached to each Placing Share, exercisable at 0.5 pence per share for a period of four (4) years from Admission, incorporating a reset mechanism to protect warrant holders in the event of any future equity raise below 0.5 pence per share; and § Net proceeds of £387,500 (after placing commission) to be used to develop the Company's strategy and for general working capital purposes. Placing Details The Company has raised gross proceeds of £400,000 (before expenses) by way of a private placement of 80,000,000 new ordinary shares of 0.5 pence each in the capital of the Company (the "Placing Shares") at a price of 0.5 pence per Placing Share (the "Placing Price") to a number of new and existing investors (the "Placees"). The Placing Shares will rank pari passu in all respects with the existing ordinary shares in the capital of the Company and will be issued on a non-pre-emptive basis. Warrants Each Placing Share will have two (2) warrants attached (the "Warrants. Each Warrant will entitle the holder to subscribe for one (1) new ordinary share in the capital of the Company at an exercise price of 0.5 pence per share. The Warrants wi...
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