Ascent Resources PLC Update on Loan Facility (5971Q)

TIDMAST

RNS Number : 5971Q

Ascent Resources PLC

01 March 2021

1 March 2021

Ascent Resources plc

("Ascent" or the "Company")

Update on Align Loan Facility

Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic American and European focused energy and natural resources company, announces an update on its existing Loan Facility.

The Company currently has GBP125,000 of outstanding indebtedness, pursuant to the Loan Facility announced 1 December 2020, and an available undrawn Loan Facility with the Lenders of GBP182,500 of which GBP120,000 is available to be drawn on 2 March ("Tranche 3") and the balance available of GBP62,500 for drawdown on 3 April ("Tranche 4"). Further to the Company's announcements on 11 February and 22 February, regards the new equity funding and the Slovenian direct settlement discussions , the Company and the Lenders have mutually agreed to extend the Tranche 3 drawdown date of 2 March to the Tranche 4 date of 3 April. Accordingly the Company may now drawdown, if it wishes, the remaining available loan proceeds of GBP182,500 in their entirety on 3 April.

Enquiries:

 
 Ascent Resources plc                      Via Vigo Communications 
  Andrew Dennan 
 WH Ireland, Nominated Adviser & Broker 
  James Joyce / Chris Savidge              0207 220 1666 
 Novum Securities, Joint Broker 
  John Belliss                             0207 399 9400 
 

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March 01, 2021 02:00 ET (07:00 GMT)