RNS Number : 2065GAscent Resources PLC11 November 2022

11 November 2022

Ascent Resources plc

("Ascent" or the "Company")

Option Awards

Ascent Resources Plc (LON: AST), theonshore Hispanic American and European focussed energy and natural resources company, announces an award of options.

The Company announces the grant of an aggregate of 4,600,000 options over Ordinary shares of the Company to certain employees. Of the total options awarded the Executive Chairman and the Chief Executive Officer were each awarded options over 1,500,000 Ordinary shares and the Non-Executive Directors were each awarded options over 500,000.

The five year options were granted on 11 November 2022 and have a three year vesting period and entitle each holder to exercise at a price of 5p.  The performance vesting criteria for the options is the execution of a cash generating ESG Metals transaction consistent with the Company's strategy.

The Board has awarded the following options:


Award

Strike Price

Expiry Date

James Parsons

1,500,000

£0.05

10 November 2027

Andrew Dennan

1,500,000

£0.05

10 November 2027

Malcolm Graham Wood

500,000

£0.05

10 November 2027

Stephen Birrell

500,000

£0.05

10 November 2027

Following the grant of options, the resultant Directors' shareholdings are as follows:

Directors

Ordinary shares

% of Issued Share Capital

Options

James Parsons

500,900

0.369

2,885,894

Andrew Dennan

2,140,000

1.578

2,885,894

Malcolm Graham Wood

0


500,000

Stephen Birrell

0


500,000

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1.    James Parsons

2.    Andrew Dennan

3.    Malcolm Graham-Wood

4.    Stephen Birrell

2

Reason for the notification

a)

Position/status

1.    PDMR (Executive Chairman)

2.    PDMR (Chief Executive Officer)

3.    PDMR (Non-executive Director)

4.    PDMR (Non-Executive Director)

b)

Initial notification/Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ascent Resources plc

b)

LEI

213800Q8R5GV7DLNEL37

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary shares of £0.005 each


Identification code

GB00BJVH7905

b)

Nature of the transaction

Award of options

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

1.    £0.05

2.    £0.05

3.    £0.05

4.    £0.05

1.    1,500,000

2.    1,500,000

3.    500,000

4.    500,000

d)

Aggregated information

N/A


Aggregated volume

N/A


Price

£0.05

e)

Date of the transaction

11 November 2022

f)

Place of the transaction

Outside of a trading venue

Enquiries:

Ascent Resources plc

Andrew Dennan

Via Vigo Communications

WH Ireland, Nominated Adviser & Broker

James Joyce / Sarah Mather

0207 220 1666

Novum Securities, Joint Broker

Jon Belliss

0207 399 9400

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