Ascent Resources Regulatory News (AST)

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

11 October 2023

Ascent Resources plc

("Ascent" or the "Company")

Completion of Strategic Investment & TVR

Ascent Resources Plc (LON: AST), the onshore Hispanic American and European focussed energy and natural resources company, is pleased to announce the completion of MBD Partners SA's ("MBD") strategic equity investment and confirm updated total voting rights.

Completion of Strategic Investment

Ascent is pleased to confirm that it has received payment of £1,500,000 in relation to the MBD strategic equity investment announced on 3 October 2023. Accordingly, today the Company has issued MBD with 42,857,143 new ordinary shares of 0.5 pence each (the "Subscription Shares") in the Company at the Subscription Price of 3.5 pence per new ordinary share. Furthermore, the Company expects to convene a general meeting shortly to put forward the resolutions relating to the issue of new warrants as announced on the 3 October 2023.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission") and it is expected that such Admission will occur at 8.00 a.m. on 17 October 2023. The Subscription Shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after the admission of the Subscription Shares, respectively and will otherwise be identical to and rank on Admission pari passu in all respects with the existing Ordinary shares.

Following Admission of the Subscription Shares, expected to occur at 8:00 a.m. on 17 October 2023, the Company will have 208,608,491 Ordinary Shares in issue, none of which will be held in treasury. Accordingly, the total number of voting rights in the Company will be 208,608,491 and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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