Ascent Resources Regulatory News (AST)

Ascent Resources plc

("Ascent" or the "Company")

Issue of Equity

Ascent Resources plc, the AIM quoted European oil and gas exploration and production company, has received a notice of exercise ("the Notice") to convert 200,000 convertible loan notes of £1 each which were issued in May 2013 as part of an open offer to all shareholders (the "Loan Notes") and the terms of which were amended in February 2015. The Loan Notes, including rolled up interest, are convertible into new ordinary shares of 0.2 pence each in the capital of the Company ("Ordinary Shares") at a rate of 100 new Ordinary Shares per £1 loan note. Consequently, a total of 22,524,931 new Ordinary Shares ("the Conversion Shares") will be issued pursuant to the Notice, following which £10,364,784 nominal convertible loan notes (including rolled-up interest) remain outstanding.

Admission and Settlement

Application has been made for the admission to trading on AIM of the Conversion Shares ("Admission"). Admission is expected to occur on 23 May 2016. Following Admission, Ascent will have 348,171,442 Ordinary Shares in issue. There are no shares held in treasury. The total voting rights in the Company is therefore 348,171,442 and Shareholders may use this figure as the denominator by which they are required to notify their interest in, or change to their interest in, the Company under the Disclosure and Transparency Rules.

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