TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   18 May 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Placing and Subscription to raise GBP901,416.66 before costs 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to 
announce that it has raised in aggregate GBP901,416.66 before costs 
through a placing (the 'Placing') and a subscription (the 
'Subscription') of 600,944,440 ordinary shares of 0.1p in the Company 
('Ordinary Shares') at a price of 0.15p per Ordinary Share (the 'Placing 
and Subscription Shares'). 
 
   The Placing was for 570,944,440 Ordinary Shares and was undertaken by 
the Company's joint broker Axis Capital Markets Limited.  The 
Subscription was for 30,000,000 Ordinary Shares of which 23,333,333 were 
taken up by Andrew Prelea and 6,666,667 were taken up by Paul Fletcher, 
Directors of the Company. 
 
   The cash raised from the Placing and Subscription will be applied to 
provide immediate funding of  the costs of accelerating and expanding 
the Company's drilling and metallurgical test work process as outlined 
in the Company's announcement of 15 May and for general working capital. 
 
   Admission of and dealings in the Placing and Subscription Shares 
 
   Application has been made to AIM for the Placing and Subscription Shares, 
which will rank pari passu with existing Ordinary Shares, to be admitted 
to trading on AIM ('Admission') in two tranches.  It is expected that 
Admission will become effective and dealing will commence in respect of 
the issue of 230,000,000 of the Placing and Subscription Shares on or 
around 22 May 2020 (the 'First Admission') and that Admission will 
become effective and dealing will commence in respect of the issue of 
370,944,440 of the Placing and Subscription Shares on or around 2 June 
2020 (the 'Second Admission').  The Placing and Subscription is 
conditional on Admission. 
 
   Following the First Admission, the total issued share capital of the 
Company will be 10,924,805,145 and following the Second Admission this 
will be 11,295,749,585.  The above figures of 10,924,805,145 and 
11,295,749,585 respectively may then be used by shareholders, following 
the respective dates at which the Shares are issued, 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. 
 
   Following Admission the Ordinary shares held by Andrew Prelea and Paul 
Fletcher will be 66,512,809 and 24,048,104 respectively representing 
0.59% and 0.21% respectively of the total enlarged share capital of the 
Company. 
 
   CEO Andrew Prelea comments: 
 
   'As a consequence of the recently released metallurgical test results, 
the Board and Management felt that it was prudent to accelerate further 
test work and reports on the Baita Plai project to enhance its value for 
the refinancing opportunity. 
 
   With the newly commissioned reports, expanded drilling and accelerated 
test work, the intention is to achieve a greater asset value to 
shareholders, in turn providing better long-term shareholder value. 
 
   We look forward to updating the market with updates related to financial 
negotiations and the further test results as they occur'. 
 
   **ENDS** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc               www.vastplc.com 
 Andrew Prelea (Chief Executive   +44 (0) 20 7846 0974 
 Officer) 
 Andrew Hall 
Beaumont Cornish - Financial &   www.beaumontcornish.com 
 Nominated Adviser                +44 (0) 20 7628 3396 
 Roland Cornish 
 James Biddle 
SP Angel Corporate Finance LLP   www.spangel.co.uk 
 -- Joint Broker                  +44 (0) 20 3470 0470 
 Richard Morrison 
 Caroline Rowe 
Axis Capital Markets Limited --  www.axcap247.com 
 Joint Broker                     +44 (0) 20 3206 0320 
 Richard Hutchison 
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 a United Kingdom AIM listed mining company with 
mines and projects in Romania and Zimbabwe - focused on the rapid 
advancement of high quality projects by recommencing production at 
previously producing mines in Romania and the 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. 
 
   1. 
 
   Details of the person discharging managerial responsibilities/person 
closely associated 
 
   a) 
 
   Name: 
 
   Andrew Prelea 
 
   2. 
 
   Reason for the notification 
 
   a) 
 
   Position/status: 
 
   Chief Executive Officer 
 
   b) 
 
   Initial notification/Amendment: 
 
   Initial notification 
 
   3. 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name: 
 
   Vast Resources Plc 
 
   b) 
 
   LEI: 
 
   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 GBP0.1 each 
 
   b) 
 
   Nature of the transaction: 
 
   Subscription 
 
   c) 
 
   Price(s) and volume(s): 
 
 
 
 
Price(s)    Volume(s) 
----------  ---------- 
GBP0.0015   23,333,333 
----------  ---------- 
 
 
   d) 
 
   Aggregated information: 
 
   Aggregated volume: 
 
   Price: 
 
 
 
 
Price(s)    Volume(s) 
----------  ---------- 
GBP0.0015   23,333,333 
----------  ---------- 
 
 
   e) 
 
   Date of the transaction: 
 
   22 May 2020 
 
   f) 
 
   Place of the transaction: 
 
   AIM, London Stock Exchange 
 
   1. 
 
   Details of the person discharging managerial responsibilities/person 
closely associated 
 
   a) 
 
   Name: 
 
   Paul Fletcher 
 
   2. 
 
   Reason for the notification 
 
   a) 
 
   Position/status: 
 
   Finance Director 
 
   b) 
 
   Initial notification/Amendment: 
 
   Initial notification 
 
   3. 
 
   Details of the issuer, emission allowance market participant, auction 
platform, auctioneer or auction monitor 
 
   a) 
 
   Name: 
 
   Vast Resources Plc 
 
   b) 
 
   LEI: 
 
   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 GBP0.1 each 
 
   b) 
 
   Nature of the transaction: 
 
   Subscription 
 
   c) 
 
   Price(s) and volume(s): 
 
 
 
 
Price(s)    Volume(s) 
----------  --------- 
GBP0.0015   6,666,667 
----------  --------- 
 
 
   d) 
 
   Aggregated information: 
 
   Aggregated volume: 
 
   Price: 
 
 
 
 
Price(s)    Volume(s) 
----------  --------- 
GBP0.0015   6,666,667 
----------  --------- 
 
 
   e) 
 
   Date of the transaction: 
 
   22 May 2020 
 
   f) 
 
   Place of the transaction: 
 
   AIM, London Stock Exchange 
 
   Attachment 
 
 
   -- Placing and Subscription to raise GBP901,416.66 before costs 
      https://ml-eu.globenewswire.com/Resource/Download/8ffe448b-9841-4729-81e0-59221eb7fb9d 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 18, 2020 02:00 ET (06:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Grafico Azioni Vast Resources (LSE:VAST)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Vast Resources
Grafico Azioni Vast Resources (LSE:VAST)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Vast Resources