Vast Resources plc Exercise Of Conversion Rights
November 22 2016 - 8:10AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 November 2016
Vast Resources plc
("Vast" or the "Company")
Exercise of Conversion Rights
Vast Resources plc, the AIM-listed mining company with operations in
Romania and Zimbabwe, announces that Bracknor Fund Limited ("Bracknor")
has given notice to the Company that it elects to convert loan notes in
respect of the fee of $250,000 (GBP201,061) due to Bracknor (the "Fee
Loan Notes") into 134,040,666 ordinary shares of 0.1 pence each (the
"Conversion Shares") at an exercise price of 0.15 pence per share in
accordance with the terms of the Subscription Agreement, as announced on
11 October 2016.
Post this exercise no Fee Loan Notes or any other loan obligations
remain outstanding to Bracknor.
Application will be made to the London Stock Exchange plc for
134,040,666 new Ordinary Shares to be admitted to trading on the AIM
market with admission expected to occur on or around 29 November 2016
("Admission"). 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 4,405,592,710 Ordinary Shares. There are no Ordinary Shares
held in treasury. 4,405,592,710 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.
**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
November 22, 2016 09:10 ET (14:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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