Vast Resources plc Result Of General Meeting, Admission Details & Total Voting Rights
June 10 2022 - 8:30AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector:
Mining
10 June 2022
Vast Resources plc
("Vast" or the "Company")
Result of General Meeting
Admission Details & Total Voting Rights
Vast Resources plc, the AIM-listed mining company, is pleased to
announce that at the Company's General Meeting held earlier today
the proposed resolutions were all duly passed with proxy voting as
follows:
-- Resolution 1: 97.33% in favour
-- Resolution 2: 97.33% in favour
-- Resolution 3: 97.32% in favour
-- Resolution 4: 97.32% in favour
ADMISSION DETAILS AND TOTAL VOTING RIGHTS
Following shareholder approval for the headroom necessary to
complete the raise of GBP3,243,325 through the subscription and
placing of 463,332,161 new ordinary shares of 0.1 pence in the
Company at a price of 0.7p per Ordinary Share, the Company has made
an application to the London Stock Exchange for 463,332,161 new
Ordinary Shares to be admitted to trading on the AIM Market with
admission expected to occur on or around 15 June 2022
('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 1,465,643,324
Ordinary Shares. There are no Ordinary Shares held in treasury.
1,465,643,324 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.
Market Abuse Regulation (MAR) Disclosure
Certain 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 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR") until the release of this announcement.
**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
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
Charlotte Page +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.
The Company has also acquired an interest in a joint venture
company which provides expsoure to a near term revenue opportunity
from the Takob Mine processing facility in Tajikistan. The Takob
Mine opportunity, which is 100% financed, will provide Vast with a
12.25 percent royalty over all sales of non-ferrous concentrate and
any other metals produced. Processing of stockpiled ore on site is
expected to commence in Q2 2022.
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.
(END) Dow Jones Newswires
June 10, 2022 09:30 ET (13:30 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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