Ascent Resources Regulatory News (AST)

30 Dec 2005 07:00

Ascent Resources PLC30 December 2005 Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas 30th December 2005 Ascent Resources plc ("Ascent" or "the Company") Organisational Changes and Issue of Equity Ascent Resources plc, the AIM traded oil and gas exploration and productioncompany, announces that it has made a number of organisational changes followingits recent Board of Directors meeting. With the appointment of John Kenny as non executive Chairman from 1 January2006, Jonathan Legg, currently a non-executive director, will become anexecutive director. Additionally, an executive committee is to be convenedcomprising Jeremy Eng (Managing Director), Malcolm Groom (Director) and JonathanLegg (Director). John Kenny has subscribed to 100,000 new shares of the Company at a price of10.5p. Furthermore, John Kenny and Jonathan Legg have been issued options tosubscribe for 500,000 new shares of the Company at a price of 10.5p exercisablebetween the first and fifth anniversaries of issue. In lieu of payment for services rendered, director Malcolm Groom has been issuedwith 497,705 ordinary shares, ENVOI Limited with 37,500 ordinary shares and JSIServices limited with 37,500 ordinary shares. Windsor Petroleum Inc., under the terms of a Service Contract that providesPhilip Paris's services as a technical advisor to the Company's Spanish assets,has been issued options to subscribe for 500,000 new shares of the Company at aprice of 10.5p exercisable on or before 1 January 2008. * * ENDS * * Contacts: Jeremy Eng Ascent Resources plc Tel: 020 7251 4905 Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange