Grant of Share Options and PDMR Notification
Ascent Resources plc has granted options over 30,000,000 ordinary shares at an exercise price of £0.0065 per share, with 15 million options each awarded to the Non-Executive Chairman and a Non-Executive Director. These options will vest in three equal tranches on March 12, 2027, 2028, and 2029, subject to continued service, and have a five-year exercise period from each vesting date. The exercise price is at a premium to the current share price, aligning director interests with shareholders.
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Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, announces that it has granted options over a total of 30,000,000 ordinary shares of £0.005 each in the Company ("Ordinary Shares"), including 15 million to the Non Executive Chairman and 15 million to a Non Executive Director, under individual share option agreements.
The options have an exercise price of 0.65 pence per Ordinary Share and will vest in three approximately equal tranches on 12 March 2027, 12 March 2028 and 12 March 2029, subject to continued service (or accelerated vesting in the case of a good leaver cessation, including death). Each tranche has an exercise period of five years from its vesting date.
The options are not subject to performance conditions beyond continued service, but have an exercise price at a premium to the current share price which aligns the interests of the directors with those of shareholders as the share price is likely to be a proxy for operational performance.
Notifications have been made in accordance with the requirements of the UK Market Abuse Regulation and are set out below.
| a) | Name | Ascent Resources plc | |
| b) | LEI | 213800Q8R5GV7DLNEL37 | |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.005 each | |
| Identification code | GB00BJVH7905 | ||
| b) | Nature of the transaction | Award of Options | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.0065 | 15,000,000 | ||
| d) | Aggregated information | N/A | |
| Aggregated volume | N/A | ||
| Price | N/A | ||
| e) | Date of the transaction | 13 March 2026 | |
| f) | Place of the transaction | Outside of a trading venue | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Edouard Etienvre | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non Executive Director | |
| b) | Initial notification/Amendment | Initial Notification | |
| a) | Name | Ascent Resources plc | |
| b) | LEI | 213800Q8R5GV7DLNEL37 | |
| a) | Description of the financial instrument, type of instrument | Ordinary shares of £0.005 each | |
| Identification code | GB00BJVH7905 | ||
| b) | Nature of the transaction | Award of Options | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.0065 | 15,000,000 | ||
| d) | Aggregated information | N/A | |
| Aggregated volume | N/A | ||
| Price | N/A | ||
| e) | Date of the transaction | 13 March 2026 | |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.