Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
1 October 2019
Vast Resources plc
(“Vast” or the “Company”)
Subscription to raise £1,805,185.95 before costs
Documentation for a
Vast Resources plc, the AIM-listed mining company, is pleased to announce that it has raised in aggregate £1,805,185.95 before costs through a subscription (the “Subscription”) of 902,592,977 ordinary shares of 0.1p in the Company (Ordinary Shares) at a price of 0.20p per Ordinary Share (the “Subscription Shares”). The subscription is by an asset manager specialised in natural resources.
The Subscription Shares are being issued under existing authorities available to the Board relating to the Company’s Zimbabwe Projects. The cash raised from the Subscription, which includes payment for expenditure already incurred, will be used for mobilisation and for general purposes necessary for the establishment of the operation in
The Company also announces that it expects signing binding documentation for a finance facility of
Admission of and Dealings in the Subscription Shares
The issue of the Subscription Shares is conditional on their admission to trading on AIM ("Admission"). Application is being made for the Subscription Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Subscription Shares will commence on or around 7 October 2019. The Subscription Shares will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 10,219,082,366. The above figure of 10,219,082,366 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.
**ENDS**
For further information, visit www.vastplc.com or please contact:
Vast Resources plc Andrew Prelea (Chief Executive Officer) Andrew Hall | www.vastplc.com +44 (0) 1491 615 232 |
Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 |
SP Angel Corporate Finance LLP – Broker Richard Morrison Caroline Rowe | www.spangel.co.uk +44 (0) 20 3470 0470 |
Blytheweigh Tim Blythe Megan Ray | www.blytheweigh.com +44 (0) 20 7138 3204 |
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”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is an AIM listed mining company with mines in
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in
Vast Resources owns the Manaila Polymetallic Mine in
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