leadf
logo-loader
RNS
viewVast Resources PLC

Subscription to raise £109,800 before costs

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

24 June 2020


Vast Resources plc
(“Vast” or the “Company”)

Subscription to raise £109,800 before costs

Vast Resources plc, the AIM-listed mining company, is pleased to announce that further to its announcement of 22 June 2020 relating to a Placing to raise £1,486,900 before costs (the “Placing”), it has now raised as contemplated a further amount in aggregate of £109,800 before costs through a subscription (the ‘Subscription’) of 61,000,000 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.18p per Ordinary Share (the ‘Subscription Shares’), being the same price as the Placing.

Application has been made to AIM for the Subscription Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading AIM (‘Admission’).  It is expected that Admission will become effective and dealing will commence in respect of the issue of the Subscription Shares on or around 30 June 2020.  The Subscription is conditional on Admission.

Following the Admission, and following the earlier Admission of the first tranche of the Placing Shares announced on 22 June 2020 (referred to as the First Admission), the total issued share capital of the Company will be 11,588,660,643.  Following Admission of the second tranche of the Placing Shares on or around 6 July 2020 as announced on 22 June 2020 (referred to as the Second Admission), the total issued share capital of the Company will be 12,199,716,198.  The above figures of 11,588,660,643 and 12,199,716,198 respectively may then be used by shareholders, following the respective dates at which the Shares are issued, as the denominator for the calculations by which they will determine if they are required to notify their interest in Vast under the FCA's Disclosure and Transparency Rule.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plc
Andrew Prelea (Chief Executive Officer)
Andrew Hall

 

 
www.vastplc.com
+44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle

 
www.beaumontcornish.com
+44 (0) 20 7628 3396
SP Angel Corporate Finance LLP – Joint Broker
Richard Morrison
Caroline Rowe

 
www.spangel.co.uk
 +44 (0) 20 3470 0470

Axis Capital Markets Limited – Joint Broker
Richard Hutchison

 
www.axcap247.com
 +44 (0) 20 3206 0320
Blytheweigh
Tim Blythe
Megan Ray

 
www.blytheweigh.com 
+44 (0) 20 7138 3204

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”).

ABOUT VAST RESOURCES PLC

Vast Resources plc, is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe - focused on the rapid advancement of high quality projects by recommencing production at previously producing mines in Romania and the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.

The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is now currently underway towards developing and recommissioning the mine and the Community Concession Block in Chiadzwa, Zimbabwe.

Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.

Attachment

Quick facts: Vast Resources PLC

Price: 0.183

Market: AIM
Market Cap: £24.45 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Markets weaken as tit-for-tat tariff war between US and China intensifies

Mining Capital's Alastair Ford gives his take on the war of words between the US and China over tariffs. US President Donald Trump's told officials to look at a further $100bln of tariffs against China. Ford also talks through changes around Zimbabwe's export credit rules. In...

on 04/06/2018

4 min read