Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
7 March 2017
Vast Resources plc
(“Vast” or the “Company”)
Exercise of Warrants and Issue of Equity
Vast Resources plc, the AIM-listed mining company with interests in Romania and Zimbabwe, announces that Bracknor Fund Limited (“Bracknor”) has given notice to the Company that it elects to convert 25,000,000 of its warrants (“Warrants”) into 25,000,000 ordinary shares of 0.1pence each (the “Warrant Shares”) at an exercise price of 0.4 pence per share in accordance with the terms of the Subscription Agreement as announced on 11 October 2016. Notice of exercise of the Warrants was received by Vast on 6 March 2017.
A subscription price of 100,000 is due to be paid to the Company by Bracknor pursuant to the exercise of Warrants.
Following this exercise of Warrants, 5,425,000 Warrants remain outstanding to Bracknor.
Application will be made to the London Stock Exchange plc for 25,000,000 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 13 March 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 4,610,685,288 Ordinary Shares. There are no Ordinary Shares held in treasury. 4,610,685,288 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”).
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