Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
27 June 2018
Vast Resources plc
(“Vast” or the “Company”)
Placing to raise 1.25 million before costs
Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, is pleased to announce that it has raised in aggregate 1.25 million (before costs) through a Placing (the “Placing”) of 238,095,238 ordinary shares of 0.1 pence in the Company (“Ordinary Shares”) at a price of 0.525 pence per Ordinary Share (the “Placing Shares”). Net funds raised being 1,122,500 along with net cash from operations satisfy the current funding requirements referred to in the announcement and letter to shareholders dated 11 June 2018. The Placing was undertaken by the Company's Joint Broker SVS Securities Plc.
Admission of and Dealings in the Placing Shares
The issue of the Placing Shares is conditional on their admission to trading on AIM (“Admission”). Application is being made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Placing Shares will commence on 3 July 2018. The Placing Shares will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 5,373,257,897. The above figure of 5,373,257,897 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in Vast under the FCA's Disclosure and Transparency Rule.
For further information, visit www.vastresourcesplc.com or please contact:
| Vast Resources plc|
Andrew Prelea (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
| SVS Securities Plc – Joint Broker|
+44 (0) 20 3700 0100
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 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 portfolio also includes an 80% interest in 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 controlling 25% interest in the producing Pickstone-Peerless Gold Mine in Zimbabwe.
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