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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ascent Resources Plc | LSE:AST | London | Ordinary Share | GB00BJVH7905 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.20 | 2.10 | 2.30 | 2.20 | 2.10 | 2.20 | 2,001 | 08:00:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 581k | -41.89M | -0.1004 | -0.22 | 9.18M |
TIDMAST
RNS Number : 0752U
Ascent Resources PLC
27 July 2020
27 July 2020
Ascent Resources plc
("Ascent" or the "Company")
Board Changes
Ascent Resources Plc (LON: AST) the onshore Caribbean, Hispanic American and European energy and natural resources company, is pleased to announce the following proposed changes to the Board in anticipation of the initiation of Cuban operations.
Leonardo Salvadori, Non-Executive Director, will be assuming the part time role of Technical Director from 1(st) October 2020, leading the Company's technical work across both Cuba and Slovenia. Mr Salvadori will therefore become an executive of the Company, relinquishing his Non-Executive duties and stepping down from the Board, effective 1(st) October 2020.
Stephen Birrell will be joining the Board as an independent Non-Executive Director with effect from 1 October 2020, subject to completion of the prerequisite regulatory checks. Stephen is a, Spanish speaking, geoscientist who has worked in the upstream oil and gas industry for over 35 years with a deep focus on Central Eastern Europe. He has operated across multiple jurisdictions including the Caribbean and CEE with Britoil, BP and Elf. He is currently a Director of Ossian Energy Ltd and the President of ROPEPCA, the upstream oil and gas operator association of Romania. Stephen has a BSc Honours in Applied Geology.
Malcolm Graham-Wood will also be joining the Board as a Non-Executive director of the Company with effect from 1 October 2020. Malcolm has over 40 years' experience in the energy business and is a well known corporate broker and market commentator to both private and institutional audiences. Malcolm is a Founding Partner of HydroCarbon Capital which provides independent advisory services to the oil & gas sector and is also a Director of the Maven Income and Growth VCT 4 PLC, a venture capital trust listed on the premium sector of the London Stock Exchange where he chairs the risk committee.
Following the appointment of Messrs Birrell and Graham-Wood the Board will comprise of three non-executive directors and two executive directors and have a strong component of independent Directors consistent with the requirements of the Quoted Companies Alliance Corporate Governance Code 2018.
James Parsons, the Company's Chairman, commented:
"I am delighted to welcome Leonardo Salvadori to the exec utive team and both Malcolm Graham-Wood and Stephen Birrell to the Board.
We are positioning Ascent as an advantaged platform for counter cyclical acquisitive growth, taking advantage of the recent market turmoil. We believe Cuba, together with the other Special Situations we are actively assessing, will provide the unique ingredients for a highly material growth trajectory across oil, gas and mining as the cycle continues to turn. "
APPENDIX:
The following details in relation to the appointment of Mr Malcolm David Graham-Wood, aged 63 are disclosed in accordance with Schedule 2(g) of the AIM Rules:
Current directorships Past directorships held within the last five years HydroCarbon Capital Limited Maven Income and Growth VCT 4 PLC
There are no other disclosures in accordance with Schedule 2(g) of the AIM Rules in relation to Mr Graham-Wood's appointment.
Enquiries:
Ascent Resources plc Via Vigo Communications Andrew Dennan WH Ireland, Nominated Adviser & Broker James Joyce / Chris Savidge 0207 220 1666 SP Angel, Joint Broker Richard Hail, Caroline Rowe 0203 470 0470
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
July 27, 2020 02:00 ET (06:00 GMT)
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