Exercise of Warrants and Issue of Equity

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

25 October 2019
Vast Resources plc
(“Vast” or the “Company”)

Exercise of Warrants and Issue of Equity

Vast Resources plc, the AIM-listed mining company, announces that pursuant to the issue of 34,000,000 Warrants to an institutional investor (the ‘Investor’) on 8 August 2019 the Investor has elected to exercise the whole of the Warrants so issued.  The Warrants comprise of the right to subscribe for 17,000,000 Ordinary Shares in the Company at an exercise price of 0.13p per share and 17,000,000 Ordinary Shares in the Company at an exercise price of 0.15p per share.  Notice of Exercise of the Warrants was received by the Company on 22 October and £47,600 received by the Company yesterday as a result of the Exercise of the Warrants.

Application will be made to the London Stock Exchange for 34,000,000 new Ordinary Shares to be admitted to trading on the AIM market with admission expecting to occur on or around  31 October 2019 (‘Admission’).  The issued new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.

Following Admission of the new Ordinary Shares, the issued ordinary share capital of Vast will consist of 10,253,082,366 Ordinary Shares.  There are no Ordinary Shares held in treasury. 10,253,082,366 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. 

**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 Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.

The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards developing and recommissioning the mine on completion of funding and the commencement of the of the Community Concession Block in Chiadzwa, Zimbabwe

Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance, and is focused on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. 

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