Placing to raise £1.25 million
/ Ticker: VAST / Index: AIM / Sector: Mining
("Vast" or the "Company")
Placing to raise £1.25 million before costs
, the AIM-listed mining company with operating mines in and , is pleased to announce that it has raised in aggregate £1.25 million (before costs) through a Placing (the "Placing") of 238,095,238 ordinary shares of in the Company ("Ordinary Shares") at a price of per Ordinary Share (the "Placing Shares"). Net funds raised being £1,122,500 along with net cash from operations satisfy the current funding requirements referred to in the announcement and letter to shareholders dated . The Placing was undertaken by the Company's .
The issue of the Placing Shares is conditional on their admission to trading on AIM ("Admission"). Application is being made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Placing Shares will commence on . The Placing Shares will rank with existing Ordinary Shares.Admission of and Dealings in the Placing Shares
Following Admission, the total issued share capital of the Company will be 5,373,257,897. The above figure of 5,373,257,897 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in Vast under the Disclosure and Transparency Rule.
For further information, visit or please contact:www.vastresourcesplc.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
is an AIM listed mining and resource development company focussed on the rapid advancement of high quality brownfield projects and recommencing production at previously producing mines in .
currently owns and operates the in , which was commissioned in 2015 and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Company's portfolio also includes an 80% interest in the in , where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.
The Company also has interests in a number of projects in including a controlling 25% interest in the producing in .
|Andrew Prelea (Chief Executive Officer)||www.vastresourcesplc.com+44 (0) 20 7236 1177 |
|Roland Cornish - Financial & Nominated Adviser ||+44 (0) 020 7628 3396www.beaumontcornish.com|
| - Joint Broker||www.brandonhillcapital.com+44 (0) 20 3463 5016|
|- Joint Broker ||www.svssecurities.com +44 (0)20 3700 0100 |
|Susie Geliher || www.stbridespartners.co.uk +44 (0) 20 7236 1177|
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