In an exclusive interview with London South East, Ascent Resources CEO Colin Hutchinson talked through the latest RNS's to be released by the Slovenian gas producer.
Having expected a processing plant permit to be agreed last week he was shocked to learn that the new Slovenian Environment Minister Mr Leben had instead instigated an internal review."I had hoped the permit would be a catalyst to move the strategic review forward. I think that part of the reason for calling a General Meeting and asking shareholders to give us the ability to continue independently should that be needed means we are not going to take a silly offer".
In a General Meeting to be held on the morning of 20th November, 2018, Ascent Resources are looking for the authority to issue up to 340 million shares and so to raise up to 1.5 Million pounds should they need to so so in the future. "Without the ability to walk away when negotiating we are in a much weaker position" said Colin Hutchinson.
The option to go to an EU court would be a 'last resort' as everyone would prefer to resolve things amicably, but 'if we did feel that they [the Slovenian Government] weren't treating foreign capital in the same way that domestic capital is treated then we would need to pursue all options.'
Ascent Resources (AST)