Ascent Announces Notice of General Meeting and ECT Claim Shareholder Discussion Forum

Source: www.gulfoilandgas.com 10/27/2023, Location: Europe

Ascent Resources Plc (LON: AST), the onshore Hispanic American and European focussed energy and natural resources company, announces that on Monday it will mail Notice to its shareholders to convene a General Meeting ("GM") to approve the issue of 45 million new warrants (with an exercise price of 5 pence per new warrant share) pursuant to the strategic investment with MBD, as announced 3 October 2023, alongside refreshing the Company's routine equity authorities. The GM is to be held at the offices of FieldFisher LLP, Riverbank House, 2 Swan Lane, London, EC4R 3TT at 5.30pm on Wednesday, 15 November 2023. A copy of the Notice of GM will be put on the Company's website on Monday.

The Company also announces that it is considering a distribution to qualifying shareholders on a future record date of an assignment to part of the proceeds which would be received by the Company in the event of successful monetary damages payment in relation to the Company's Energy Charter Treaty claim against the Republic of Slovenia. This would, if implemented, enfranchise qualifying shareholders with access to a portion of the damages proceeds being claimed which would not be exposed to future changes in the capital of the Company. It should be cautioned that in the event the Company is successful in its claim any amount actually received may be significantly lower than the full amount being claimed for.


Any distribution would be subject to receiving final legal and tax advice on the mechanism of such a distribution and would likely need shareholder approval.

Following completion of the official business of the meeting, shareholders will be invited to discuss their views on this as well as having the ability to raise questions generally.


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