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Update on Loan Facility

Mon, 1st Mar 2021 07:00

RNS Number : 5971Q
Ascent Resources PLC
01 March 2021
 

1 March 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 £125,000 of outstanding indebtedness, pursuant to the Loan Facility announced 1 December 2020, and an available undrawn Loan Facility with the Lenders of £182,500 of which £120,000 is available to be drawn on 2 March ("Tranche 3") and the balance available of £62,500 for drawdown on 3 April ("Tranche 4"). Further to the Company's announcements on 11 February and 22 February, regards the new equity funding and the Slovenian direct settlement discussions , the Company and the Lenders have mutually agreed to extend the Tranche 3 drawdown date of 2 March to the Tranche 4 date of 3 April. Accordingly the Company may now drawdown, if it wishes, the remaining available loan proceeds of £182,500 in their entirety on 3 April.

 

Enquiries:

Ascent Resources plc

Andrew Dennan

Via Vigo Communications

 

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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