Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
5 April 2017
Vast Resources plc
(“Vast” or the “Company”)
Exercise of Warrants and Issue of Equity
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 1August 2016 (the “Open Offer Warrants”), certain holders of Open Offer Warrants have elected to exercise 6,116 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 4 April 2017. Accordingly, the Company has today issued 6,116 new Ordinary Shares. 30.58 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 6,116 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 11 April 2017 (“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 4,663,410,575 Ordinary Shares. There are no Ordinary Shares held in treasury. 4,663,410,575 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.
For further information, visit www.vastresourcesplc.com or please contact:
| Vast Resources plc|
Roy Pitchford (Chief Executive Officer)
+44 (0) 20 7236 1177
| Beaumont Cornish – Financial & Nominated Adviser|
+44 (0) 020 7628 3396
| Brandon Hill Capital Ltd – Joint Broker|
+44 (0) 20 3463 5016
| Peterhouse Corporate Finance Ltd – Joint Broker|
+44 (0) 20 7469 0936
| St Brides Partners Ltd|
+44 (0) 20 7236 1177
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”).
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.
Vast Resources currently own and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015. The Company's portfolio also includes the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.
The Company also has interests in a number of projects in Southern Africa including a 25 per cent. interest* in the producing Pickstone-Peerless Gold Mine in Zimbabwe.
* Vast ownership is currently 50% (25.01% when SSCG Africa Holdings Ltd financing conditions precedent are fulfilled as per announcement on 30 January 2017).
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