Ascent Resources PLC Award of Options (3613X)

TIDMAST

RNS Number : 3613X

Ascent Resources PLC

05 May 2016

5 May 2016

Ascent Resources plc

("Ascent" or "the Company")

Award of Options

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company is pleased to announce that on 5 May 2016, 71,328,006 new options were granted exercisable at 1.58 pence, the closing mid-market price on 4 May 2016. This is the first award of options since April 2013.

The recipients include Directors of the Company as follows:

 
 Colin Hutchinson    34,964,709 
------------------  ----------- 
 Clive Carver        13,985,884 
------------------  ----------- 
 Nigel Moore          6,992,942 
------------------  ----------- 
 Cameron Davies       6,992,942 
------------------  ----------- 
 

The award is subject to the rules of the 2013 Incentive Scheme, they are not exercisable, unless otherwise provided for under the rules of the scheme for a period of three years from the date of grant. The options will be capable of exercise for a period of ten years from the date of grant.

The only options currently held by Directors are exercisable at 20 pence and were awarded in April 2013; the recipients are summarised below:

 
 Colin Hutchinson      265,688 
------------------  ---------- 
 Clive Carver        1,328,443 
------------------  ---------- 
 

Enquiries:

 
 Ascent Resources plc 
  Clive Carver, Chairman 
  Colin Hutchinson, CEO           0207 251 4905 
-------------------------------  -------------- 
 Stockdale Securities Limited, 
  Nominated Adviser 
  Alastair Stratton 
  Edward Thomas 
  Richard Johnson                 0207 601 6100 
-------------------------------  -------------- 
 IFC Advisory Ltd, Financial 
  PR and IR 
  Graham Herring 
  Tim Metcalfe 
  Heather Armstrong               0203 053 8671 
-------------------------------  -------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 05, 2016 06:00 ET (10:00 GMT)