Ascent Resources PLC Update on Align loan facility (7468U)
April 07 2021 - 1:23PM
UK Regulatory
TIDMAST
RNS Number : 7468U
Ascent Resources PLC
07 April 2021
7 April 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, further to the announcement of 1 March, was
available to be drawn down on the 4 April. The Company and the
Lenders have now further mutually agreed to extend the draw down
date for the remaining available loan proceeds to 4 May 2021,
accordingly the Company may now drawdown, if it wishes, the
remaining available loan proceeds of GBP182,500 in their entirety
on 4 May.
As one of the Lenders, Align Research Limited, is a substantial
shareholder of Ascent, this transaction constitutes a related party
transaction pursuant to the AIM Rules for Companies. The
independent directors (being all of the directors), having
consulted with WH Ireland Limited, consider the transaction to be
fair and reasonable insofar as the Company's shareholders are
concerned.
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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