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Replacement: The following amendment has been made to the 'Atlas Special Opportunities LLC – Exercise of Conversion Rights & Total Voting Rights ' announcement released on 13 May 2022 at 7.00 a.m.
The correct admission date for the new Ordinary Shares is 18 May 2022 rather than 6 May 2022 as previously stated.
All other details remain unchanged.
The full amended text is shown below.
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
13 May 2022
Vast Resources plc
(“Vast” or the “Company”)
Atlas Special Opportunities LLC – Exercise of Conversion Rights
Total Voting Rights
Vast Resources plc, the AIM-listed mining company, announces that further to the announcement made on 3 May 2022 regarding the non legally binding verbal assurance from Atlas Special Opportunities LLC (“Atlas”) of no further conversions the Company has received a notice from Atlas that it elects to convert Bonds of USD 500,000 nominal value in accordance with the terms of the Bond Issuance Deed announced on 24 October 2019. The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 151,260,080 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.27 pence per Ordinary Share.
The Company remains confident about the finalisation of the legal documentation process for the refinancing of the outstanding bonds currently $4,150,000.
Application will be made to the London Stock Exchange for 151,260,080 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 18 May 2022 (‘Admission’). The issued new Ordinary Shares will rank pari passu in all respects with existing Ordinary Shares.
Following Admission of the new Ordinary Shares the issued ordinary share capital of Vast will consist of 760,512,143 Ordinary Shares. There are no Ordinary Shares held in treasury. 760,512,143 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 in their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
For further information, visit www.vastplc.com or please contact:
Vast Resources plc
Beaumont Cornish – Financial & Nominated Advisor
Shore Capital Stockbrokers Limited – Joint Broker
Axis Capital Markets Limited – Joint Broker
St Brides Partners Limited
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.
The Company's Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.
The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.