TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   31 January 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Completion of Tranche 1 Atlas Capital Markets Drawdown 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to 
announce that the Tranche 1 drawdown process of the Atlas Capital 
Markets Ltd adjoined with Atlas Special Opportunities LLC (jointly 
"Atlas") facility under the Bond Issue Deed announced on 24 October 2019 
has been completed and that confirmation of payment has now been 
received. 
 
   The par value of the Bond is US$7,101,947 providing net cash proceeds 
before costs of US$6,391,752. 
 
   As part of the transaction, the Company has executed a tripartite 
intercreditor agreement ("ICA") with Mercuria Energy Trading SA 
("Mercuria") and Atlas. 
 
   The main terms of the ICA are as follows: 
 
 
   -- Upon completion of the Conditions Precedent (CP's), Mercuria will agree 
      to a standstill period for the duration of the Atlas facility subject to 
      certain terms and conditions. 
 
   -- Full repayment of balance of debt to Sub-Sahara Goldia Investments 
      ("SSGI") and release of security following payment to SSGI of 
      US$1,000,000 out of drawdown of Tranche 1. 
 
   -- $1,000,000 cash payment to Mercuria upon drawdown of Tranche 1. 
 
   -- Subject to certain terms and conditions and completion of CP's the 
      remaining principal and interest, fees and costs accrued on the remaining 
      existing Mercuria Tranche A facility will be recovered from future cash 
      flow. 
 
   -- Offtake agreements will remain with Mercuria. 
 
 
   It should be noted that AP Mining Group Ltd, the owner of a 20% interest 
in Baita Plai Polymetallic Mine ("Baita Plai") in Romania, is a party to 
the ICA and has pledged its 20% interest in Baita Plai. 
 
   The Directors of Vast who own shares in the Company have also executed a 
Share Escrow Agreement with Atlas whereby the Directors are offering, 
for no monetary reward, substantially the whole of their personal 
shareholdings in the Company, amounting in aggregate to 143,140,500 
shares ("Shares"), as guarantees for certain of the Company's 
obligations under the Bond Issue Deed together with the achievement of 
certain milestones.  The Shares will be released back to the Directors 
upon the achievement of these obligations and milestones.  Atlas have 
agreed that the Shares will remain in the beneficial ownership of the 
Director concerned and they will not in any circumstances deal in or 
encumber the Shares in any way during the escrow period.  Details of the 
individual participations in the form of PDMR disclosures are set out in 
the Appendix below 
 
   Andrew Prelea, CEO of Vast Resources PLC, commented: 
 
   "We are pleased that Tranche 1 of the Atlas Capital Markets facility has 
been achieved and with the opportunity that this unlocks. The Board of 
Directors and Management have worked extremely hard restructuring the 
Company in order to get to this point which gives the Company a clear 
path to production at the Baita Plai Polymetallic Mine. 
 
   We look forward to updating the market, as and when, on our progress at 
Baita Plai." 
 
   **S** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc               www.vastplc.com 
 Andrew Prelea (Chief Executive   +44 (0) 1491 615 232 
 Officer) 
 Andrew Hall 
Beaumont Cornish - Financial &   www.beaumontcornish.com 
 Nominated Adviser                +44 (0) 020 7628 3396 
 Roland Cornish 
 James Biddle 
SP Angel Corporate Finance LLP   www.spangel.co.uk 
 -- Broker                        +44 (0) 20 3470 0470 
 Richard Morrison 
 Caroline Rowe 
Blytheweigh                      www.blytheweigh.com 
 Tim Blythe                       +44 (0) 20 7138 3204 
 Megan Ray 
 
 
   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 mining and 
exploration interests 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 Chiadzwa 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 now currently underway 
towards developing and recommissioning the mine and 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. 
 
   APPIX 
 
   The notification below, made in accordance with the requirements of the 
EU Market Abuse Regulation, provides further detail in respect of the 
arrangements with Directors as described above. 
 
   DIRECTOR/PDMR DISCLOSURES 
 
   1 
 
   Details of the person discharging managerial responsibilities / person 
closely associated 
 
   a) 
 
   Name 
 
   Roy Clifford Tucker 
 
   2 
 
   Reason for notification 
 
   a) 
 
   Position / status 
 
   Director 
 
   b) 
 
   Initial notification 
 
   /Amendment 
 
   Initial 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Vast Resources plc 
 
   b) 
 
   LEI 
 
   213800QXLO766CMGCQ60 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Identification code 
 
   Ordinary shares of 0.1 pence each in Vast Resources plc ("Vast Shares") 
 
   Nature of the transaction 
 
   Roy Tucker has placed into Escrow 66,925,587 shares as a guarantee for 
certain of the Company's obligations and milestones under a Bond Issue 
Deed signed by the Company which will be released back upon the 
achievement of these obligations and milestones.  The shares remain in 
the beneficial ownership of Roy Tucker.  The market value of the shares 
at a current price of 0.28p is GBP187,391.64. 
 
   c) 
 
   Price(s) and volumes(s) 
 
 
 
 
Price(s)     Volumes(s) 
-----------  ---------- 
0.28 pence   66,925,587 
-----------  ---------- 
 
   d) 
 
   Aggregated information 
 
   n/a 
 
   e) 
 
   Date of the transaction 
 
   29 January 2020 
 
   f) 
 
   Place of the transaction 
 
   Off market 
 
   1 
 
   Details of the person discharging managerial responsibilities / person 
closely associated 
 
   a) 
 
   Name 
 
   Richard Andrew Prelea 
 
   2 
 
   Reason for notification 
 
   a) 
 
   Position / status 
 
   Chief Executive Officer 
 
   b) 
 
   Initial notification 
 
   /Amendment 
 
   Initial 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Vast Resources plc 
 
   b) 
 
   LEI 
 
   213800QXLO766CMGCQ60 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Identification code 
 
   Ordinary shares of 0.1 pence each in Vast Resources plc ("Vast Shares") 
 
   Nature of the transaction 
 
   Andrew Prelea, Director, has placed into Escrow 43,179,476 shares as a 
guarantee for certain of the Company's obligations and milestones under 
a Bond Issue Deed signed by the Company which will be released back upon 
the achievement of these obligations and milestones.  The shares remain 
in the beneficial ownership of Andrew Prelea.  The market value of the 
shares at a current price of 0.28p is GBP120,902.53. 
 
   c) 
 
   Price(s) and volumes(s) 
 
 
 
 
Price(s)     Volumes(s) 
-----------  ---------- 
0.28 pence   43,179,476 
-----------  ---------- 
 
   d) 
 
   Aggregated information 
 
   n/a 
 
   e) 
 
   Date of the transaction 
 
   29 January 2020 
 
   f) 
 
   Place of the transaction 
 
   Off market 
 
   1 
 
   Details of the person discharging managerial responsibilities / person 
closely associated 
 
   a) 
 
   Name 
 
   Brian Michael Moritz 
 
   2 
 
   Reason for notification 
 
   a) 
 
   Position / status 
 
   Chairman 
 
   b) 
 
   Initial notification 
 
   /Amendment 
 
   Initial 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Vast Resources plc 
 
   b) 
 
   LEI 
 
   213800QXLO766CMGCQ60 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Identification code 
 
   Ordinary shares of 0.1 pence each in Vast Resources plc ("Vast Shares") 
 
   Nature of the transaction 
 
   Brian Moritz, Director, has placed into Escrow 10,000,000 shares as a 
guarantee for certain of the Company's obligations and milestones under 
a Bond Issue Deed signed by the Company which will be released back upon 
the achievement of these obligations and milestones.  The shares remain 
in the beneficial ownership of Brian Moritz.  The market value of the 
shares at a current price of 0.28p is GBP28,000.00. 
 
   c) 
 
   Price(s) and volumes(s) 
 
 
 
 
Price(s)     Volumes(s) 
-----------  ---------- 
0.28 pence   10,000,000 
-----------  ---------- 
 
   d) 
 
   Aggregated information 
 
   n/a 
 
   e) 
 
   Date of the transaction 
 
   29 January 2020 
 
   f) 
 
   Place of the transaction 
 
   Off market 
 
   1 
 
   Details of the person discharging managerial responsibilities / person 
closely associated 
 
   a) 
 
   Name 
 
   Paul Edward Fletcher 
 
   2 
 
   Reason for notification 
 
   a) 
 
   Position / status 
 
   Finance Director 
 
   b) 
 
   Initial notification 
 
   /Amendment 
 
   Initial 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Vast Resources plc 
 
   b) 
 
   LEI 
 
   213800QXLO766CMGCQ60 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Identification code 
 
   Ordinary shares of 0.1 pence each in Vast Resources plc ("Vast Shares") 
 
   Nature of the transaction 
 
   Paul Fletcher, Director, has placed into Escrow 17,381,437 shares as a 
guarantee for certain of the Company's obligations and milestones under 
a Bond Issue Deed signed by the Company which will be released back upon 
the achievement of these obligations and milestones.  The shares remain 
in the beneficial ownership of Paul Fletcher.  The market value of the 
shares at a current price of 0.28p is GBP48,668.02. 
 
   c) 
 
   Price(s) and volumes(s) 
 
 
 
 
Price(s)     Volumes(s) 
-----------  ---------- 
0.28 pence   17,381,437 
-----------  ---------- 
 
   d) 
 
   Aggregated information 
 
   n/a 
 
   e) 
 
   Date of the transaction 
 
   29 January 2020 
 
   f) 
 
   Place of the transaction 
 
   Off market 
 
   1 
 
   Details of the person discharging managerial responsibilities / person 
closely associated 
 
   a) 
 
   Name 
 
   Craig James Harvey 
 
   2 
 
   Reason for notification 
 
   a) 
 
   Position / status 
 
   Chief Operating Officer 
 
   b) 
 
   Initial notification 
 
   /Amendment 
 
   Initial 
 
   3 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name 
 
   Vast Resources plc 
 
   b) 
 
   LEI 
 
   213800QXLO766CMGCQ60 
 
   4 
 
   Details of the transaction(s): section to be repeated for (i) each type 
of instrument; (ii) each type of transaction; (iii) each date; and (iv) 
each place where transactions have been conducted 
 
   a) 
 
   Description of the financial instrument, type of instrument 
 
   Identification code 
 
   Ordinary shares of 0.1 pence each in Vast Resources plc ("Vast Shares") 
 
   Nature of the transaction 
 
   Craig Harvey, Director, has placed into Escrow 5,650,000 shares as a 
guarantee for certain of the Company's obligations and milestones under 
a Bond Issue Deed signed by the Company which will be released back upon 
the achievement of these obligations and milestones.  The shares remain 
in the beneficial ownership of Craig Harvey.  The market value of the 
shares at a current price of 0.28p is GBP15,820.00. 
 
   c) 
 
   Price(s) and volumes(s) 
 
 
 
 
Price(s)     Volumes(s) 
-----------  ---------- 
0.28 pence    5,650,000 
-----------  ---------- 
 
   d) 
 
   Aggregated information 
 
   n/a 
 
   e) 
 
   Date of the transaction 
 
   29 January 2020 
 
   f) 
 
   Place of the transaction 
 
   Off market 
 
   Attachment 
 
 
   -- Completion of Tranche 1 Atlas Capital Markets Drawdown 
      https://ml-eu.globenewswire.com/Resource/Download/b50463f6-fc02-421c-8790-bd910082020f 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

January 31, 2020 02:00 ET (07:00 GMT)

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