On 17 August 2015 the Company announced that Len Reece, Ascent's CEO had resigned as a Director of the Company. Following further discussions, the Company and Len Reece have entered into a settlement agreement to terminate his employment effective from 10 September 2015. Colin Hutchinson, Finance Director, has become interim Chief Executive and with the support of the non-executive Directors will lead the day-to-day activities of the Company.

The board of Ascent would like to extend its thanks and appreciation for Len's work in leading the Company over the past three years. Len oversaw the move from a collection of disparate assets spread over five countries to a focus on its prime Slovenian asset. More recently he has been instrumental in moving the IPPC permit forwards. We wish Len well for the future.

Tags: Ascent Resources plc