Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
30 June 2020
Vast Resources plc
(“Vast” or the “Company”)
Exercise of Warrants and Issue of Equity
In line with its regulatory obligations, Vast Resources plc, the AIM-listed mining company, announces that, pursuant to the issue of warrants to subscribers to the open offer completed on 1 August 2016 (the “Open Offer Warrants”), holders of Open Offer Warrants have elected to exercise 830,416 Open Offer Warrants. Each Open Offer Warrant entitles the holder to one ordinary share of 0.1 pence each in the Company (“Ordinary Shares”) at a price of 0.5 pence per Ordinary Share. Notice of exercise of the Warrants was received by Vast on 29 June 2020. Accordingly, the Company has today issued 830,416 new Ordinary Shares. £4,152.08 has been received by the Company as a result of the exercise of the Open Offer Warrants.
Application will be made to the London Stock Exchange for 830,416 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 6 July 2020 (“Admission”). The issued new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.
Following Admission of the new Ordinary Shares, together with the Admission on the same day of 611,055,555 second tranche Placing Shares as announced on 22 June 2020, the issued ordinary share capital of Vast will consist of 12,214,461,667 Ordinary Shares. There are no Ordinary Shares held in treasury. 12,214,461,667 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc|
Andrew Prelea (Chief Executive Officer)
+44 (0) 207 846 0974
| Beaumont Cornish - Financial & Nominated Adviser |
+44 (0) 020 7628 3396
| SP Angel Corporate Finance LLP – Broker |
+44 (0) 20 3470 0470
| 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”).
Vast Resources plc, is an AIM listed mining company with mines in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and finalising the joint venture mining agreement on the Heritage Concession (Block T1A of the Marange Diamond Fields) in Zimbabwe.
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards developing and recommissioning the mine on completion of funding.
Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.