Vast Resources plc Issue Of Equity And Exercise Of Open Offer Warrants
October 07 2016 - 12:15PM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
7 October 2016
Vast Resources plc
("Vast" or the "Company")
Issue of Equity and Exercise of Open Offer Warrants
Vast Resources plc, the AIM listed mining company with operations in
Romania and Zimbabwe, announces that, pursuant to the agreement entered
into with a number of existing shareholders (the "Investors") announced
on 7 March 2016 (the "Financing"), it has received a subscription of
GBP133,333 for the issue today of 47,619,046 new ordinary shares in the
Company of 0.1 pence each ("Ordinary Shares") at an issue price of 0.28
pence per Ordinary Share and 47,619,046 warrants (the "Investor
Warrants") both conditional only on admission to trading on AIM
("Admission").
The issue of Ordinary Shares and Investor Warrants represents the fourth
and final tranche of the Financing and the issue price of the new
Ordinary Shares is the closing bid price of the Ordinary Shares on 29
September 2016 in accordance with the provisions of the Financing. The
terms of the Investor Warrants are as explained in the announcement of 7
March 2016.
VAST Resources plc also announces that, pursuant to the issue of
warrants to subscribers to the open offer completed on 1 August 2016
(the "Open Offer Warrants"), certain holders of Open Offer Warrants have
elected to exercise 122,120 Open Offer Warrants. Each Open Offer
Warrant entitles the holder to one ordinary share of 0.1p each in the
Company ("Ordinary Shares") at a price of 0.5 pence per Ordinary Share.
Accordingly, the Company has today issued 122,120 new Ordinary Shares.
GBP610.60 has been received by the Company as a result of the exercise
of the Open Offer Warrants.
Application has today been made to the London Stock Exchange plc for the
47,741,166 New Ordinary Shares to be admitted to trading on the AIM
market with admission expected to occur on 13 October 2016. The issued
new Ordinary Shares will rank pari passu in all respects with the
existing Ordinary Shares.
Following Admission, the issued ordinary share capital of Vast will
consist of 3,247,080,425 Ordinary Shares. There are no Ordinary Shares
held in treasury, therefore the total number of voting rights in the
Company, following the issue of the 47,741,166 New Ordinary Shares is
3,247,080,425.
**ENDS**
For further information, visit www.vastresourcesplc.com or please
contact:
Vast Resources plc
Roy Pitchford (Chief Executive Officer) +40 (0) 372 988 988 - Office Romania
+40 (0) 741 111 900 - Mobile Romania
+44 (0) 7793 909985 - Mobile UK
Strand Hanson Limited - Financial & Nominated Adviser www.strandhanson.co.uk
James Spinney +44 (0) 20 7409 3494
James Bellman
Brandon Hill Capital Ltd - Joint Broker www.brandonhillcapital.com
Jonathan Evans +44 (0)20 3463 5016
Peterhouse Corporate Finance Ltd - Joint Broker www.pcorpfin.com
Duncan Vasey +44 (0) 20 7469 0936
St Brides Partners Ltd www.stbridespartners.co.uk
Susie Geliher +44 (0) 20 7236 1177
Charlotte Page
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").
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Vast Resources plc via Globenewswire
http://www.acrplc.com/
(END) Dow Jones Newswires
October 07, 2016 13:15 ET (17:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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