Vast Resources plc Atlas Special Opportunities Llc -- Exercise Of Conversion Rights
November 24 2021 - 5:30AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector:
Mining
24 November 2021
Vast Resources plc
("Vast" or the "Company")
Atlas Special Opportunities LLC -- Exercise of Conversion
Rights
Vast Resources plc, the AIM-listed mining company, announces
that Atlas Special Opportunities LLC has given notice to the
Company that it elects to convert Bonds of USD 50,000 nominal value
in accordance with the terms of the Bond Issuance Deed announced on
24 October 2019. The Company can confirm that it has satisfied the
exercise of the Conversion Rights through the issue of 1,512,416
ordinary shares of 0.1 pence each in the Company ('Ordinary
Shares') at a price of 2.47 pence per Ordinary Share.
Application will be made to the London Stock Exchange for
1,512,416 new Ordinary Shares to be admitted to trading on the AIM
Market with admission expected to occur on or around 30 November
2021 ('Admission'). The issued new Ordinary Shares will rank pari
passu in all respects with existing Ordinary Shares.
Following Admission of the new Ordinary Shares the issued
ordinary share capital of Vast will consist of 296,494,133 Ordinary
Shares. There are no Ordinary Shares held in treasury. 296,494,133
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 in their interest in, the Company under
the Financial Conduct Authority's Disclosure and Transparency
Rules.
**ENDS**
For further information, visit www.vastplc.com or please
contact:
Vast Resources plc www.vastplc.com
Andrew Prelea (CEO) +44 (0) 20 7846 0974
Andrew Hall (CCO)
Beaumont Cornish -- Financial http://www.beaumontcornish.com
& Nominated Advisor www.beaumontcornish.com
Roland Cornish +44 (0) 20 7628 3396
James Biddle
Shore Capital Stockbrokers Limited www.shorecapmarkets.co.uk
-- Joint Broker +44 (0) 20 7408 4050
Jerry Keen (Corporate Broking)
Toby Gibbs / James Thomas (Corporate
Advisory)
Axis Capital Markets Limited -- www.axcap247.com
Joint Broker +44 (0) 20 3206 0320
Kamran Hussain
St Brides Partners Limited http://www.stbridespartners.co.uk
Susie Geliher www.stbridespartners.co.uk
+44 (0) 20 7236 1177
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company
with mines and projects in Romania and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of
high-quality projects by recommencing production at previously
producing mines.
The Company's Romanian portfolio includes 100% interest in the
producing Baita Plai Polymetallic Mine, located in the Apuseni
Mountains, Transylvania, an area which hosts Romania's largest
polymetallic mines. The mine has a JORC compliant Reserve &
Resource Report which underpins the initial mine production life of
approximately 3-4 years with an in-situ total mineral resource of
15,695 tonnes copper equivalent with a further 1.8M-3M tonnes
exploration target. The Company is now working on confirming an
enlarged exploration target of up to 5.8M tonnes.
The Company also owns the Manaila Polymetallic Mine in Romania,
which was commissioned in 2015, currently on care and maintenance.
The Company has been granted the Manaila Carlibaba Extended
Exploitation Licence that will allow the Company to re-examine the
exploitation of the mineral resources within the larger Manaila
Carlibaba licence area.
In Zimbabwe, the Company is focused on the commencement of the
joint venture mining agreement on the Community Diamond Concession,
Chiadzwa, in the Marange Diamond Fields.
In Botswana, the Company is focused on finalising the
acquisition of the Ghaghoo Diamond Mine, which will be conducted
through a joint venture between the Company and Botswana Diamonds
plc and will provide the Company with a 90% interest in a high
quality and previously producing diamond asset benefiting from
world-class infrastructure and capable of generating material
revenues in the near term.
(END) Dow Jones Newswires
November 24, 2021 06:30 ET (11:30 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Vast Resources (LSE:VAST)
Historical Stock Chart
From Apr 2024 to May 2024
Vast Resources (LSE:VAST)
Historical Stock Chart
From May 2023 to May 2024