Ascent Resources PLC Announces Record Date, General Meeting, and Shareholder Distribution for Bonus Issue of Preference Shares

Ascent Resources PLC has announced the Record Date for shareholders to qualify for a bonus issue of preference shares for ring-fenced access to an economic interest in 49% of the net proceeds in the event of a positive Energy Charter Treaty claim outcome. Shareholders will need to approve a number of ordinary and special resolutions, with the General Meeting scheduled for 4 March 2024. The circular for the General Meeting will be mailed to Shareholders on 6 February 2024 and will also be available on the Company's website.

The expected timetable of principal events includes the publication of the Circular on 6 February, the latest time and date for receipt of Forms of Proxy in respect of the General Meeting at 14:00 on 29 February, and the Ex-entitlement date and Record Date for entitlements under the Bonus Issue at 6:00 p.m. on 16 February and 6:00 p.m. on 19 February, respectively. Share certificates for Preference Shares will be dispatched within 14 days from the date of the General Meeting.

The indicative bonus issue statistics include 1 Preference Share for every 1 existing Ordinary Share on the Record Date, with a nominal value per Preference Share of 0.005 pence. The total aggregate number of Preference Shares that may be issued is 271,313,612.

The Executive Chairman of Ascent Resources PLC, James Parsons, provided a letter to the holders of Ordinary Shares in the Company, outlining the proposed bonus issue of Preference Shares to ringfence an economic interest in proceeds received under the ECT Claim and the adoption of new Articles of Association. The letter also includes details of the General Meeting to be held on 4 March 2024.

The Company's Energy Charter Treaty claim against the Republic of Slovenia, which aims to distribute an entitlement to the economic interest in 49% of any net proceeds received after deduction of all legal fees, costs, and expenses, will require the approval of Shareholders in the General Meeting. The Directors unanimously consider the Proposals to be in the best interest of the Company.

This comprehensive announcement from Ascent Resources PLC provides shareholders with the necessary information regarding the upcoming General Meeting, the proposed Bonus Issue, and the adoption of new Articles of Association.