Vast Resources plc Exercise Of Warrants And Issue Of Equity
October 16 2018 - 10:15AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
16 October 2018
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 with operating mines in Romania and Zimbabwe,
announces that, pursuant to the issue of warrants to subscribers to the
open offer completed on 1 August 2016 (the "Open Offer Warrants"), a
holder of Open Offer Warrants has elected to exercise 57,331 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 16 October 2018. Accordingly, the Company has today
issued 57,331 new Ordinary Shares. GBP286.66 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 57,331 new
Ordinary Shares to be admitted to trading on the AIM market with
admission expected to occur on or around 22 October 2018 ("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, the issued ordinary
share capital of Vast will consist of 5,514,822,051 Ordinary Shares.
There are no Ordinary Shares held in treasury. 5,514,822,051 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 www.vastresourcesplc.com
Andrew Prelea (Chief Executive Officer) +44 (0) 20 7236 1177
Beaumont Cornish - Financial & Nominated Adviser www.beaumontcornish.com
Roland Cornish +44 (0) 020 7628 3396
James Biddle
Brandon Hill Capital Ltd -- Joint Broker www.brandonhillcapital.com
Jonathan Evans +44 (0) 20 3463 5016
SVS Securities Plc -- Joint Broker www.svssecurities.com
Tom Curran +44 (0) 20 3700 0100
Ben Tadd
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").
Notes
Vast Resources plc 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
Romania and Zimbabwe.
Vast Resources currently owns and operates the Manaila Polymetallic Mine
in Romania, 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
Romanian portfolio also includes interests in two brownfield development
projects; the Baita Plai Polymetallic Mine (80% interest), which has a
reported 1,800,000-tonne
copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper
equivalent (Russian Reserves and Resources Reporting System) within the
mining licence area; and the Blueberry Project (29.41% interest), a
7.285km(2) brownfield area of prospectivity in the Golden Quadrilateral
of Romania located in the immediate vicinity of the now closed Baia de
Aries mine.
The Company also has interests in a number of projects in Zimbabwe
including a controlling 25 per cent. interest in the producing
Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka
Gold Mine, and an 86.67% interest in a SPV which has a due diligence
access agreement and pre-agreed joint venture terms on a diamond
concession within the Marange Diamond Fields, widely considered to be
one of the richest sources of alluvial diamonds globally.
(END) Dow Jones Newswires
October 16, 2018 11:15 ET (15:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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