Delay to Final Results and Temporary Suspension
Ascent Resources Plc announced a delay in the publication of its final results for the year ended 31 December 2025, due to ongoing audit processes for US acquisitions and system issues with their accounting firm. Consequently, the company's ordinary shares will be temporarily suspended from trading on AIM starting July 1, 2026, with publication of the results currently expected before the end of July 2026. The company is also prudently managing its working capital and evaluating funding options while awaiting a tribunal decision on its Energy Charter Treaty arbitration claim.
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Ascent Resources Plc (LON: AST), the onshore US focused oil and gas company, announces an update regarding the publication of its final results for the year ended 31 December 2025 ("FY25 Accounts").
As at the date of this RNS, the audit of the Company's FY25 Accounts is still in progress and is taking longer than expected due to delays in the consolidation of the US acquisitions caused by unanticipated system issues encountered by our US accounting firm, as well as the amount of work required to capture the assets acquired in May 2025 in our audit cycle.
As a result, the FY25 Accounts will be published after 30 June 2026, being the deadline provided by Rule 19 of the AIM Rules for Companies (the "AIM Rules"). Consequently, in accordance with the AIM Rules, the Company's ordinary shares will be temporarily suspended from trading on AIM with effect from 7.30 am on 1 July 2026 until release of the FY25 Accounts which is currently expected before the end of July 2026.
The Company is working closely with its auditors to complete the audit process as soon as practically possible and will provide further updates regarding the publication of the FY25 Accounts as appropriate.
The Company continues to manage its working capital position and creditors prudently while it awaits the tribunal decision in respect of its Energy Charter Treaty arbitration claim. In parallel, the Board continues to evaluate a range of funding options and remains focused on strengthening the Company's financial position and investment proposition, with the objective of ensuring that any future capital raising is undertaken on terms that support value for existing shareholders. Further updates will be provided as appropriate.
| "shut-in" | Well operation in oil and gas production which involves temporary or permanent cessation of fluid flow. |
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