Vast Resources plc Issue Of Equity And Exercise Of Open Offer Warrants

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   7 October 2016 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Issue of Equity and Exercise of Open Offer Warrants 
 
   Vast Resources plc, the AIM listed mining company with operations in 
Romania and Zimbabwe, announces that, pursuant to the agreement entered 
into with a number of existing shareholders (the "Investors") announced 
on 7 March 2016 (the "Financing"), it has received a subscription of 
GBP133,333 for the issue today of 47,619,046 new ordinary shares in the 
Company of 0.1 pence each ("Ordinary Shares") at an issue price of 0.28 
pence per Ordinary Share and 47,619,046 warrants (the "Investor 
Warrants") both conditional only on admission to trading on AIM 
("Admission"). 
 
   The issue of Ordinary Shares and Investor Warrants represents the fourth 
and final tranche of the Financing and the issue price of the new 
Ordinary Shares is the closing bid price of the Ordinary Shares on 29 
September 2016 in accordance with the provisions of the Financing.  The 
terms of the Investor Warrants are as explained in the announcement of 7 
March 2016. 
 
   VAST Resources plc also announces that, pursuant to the issue of 
warrants to subscribers to the open offer completed on 1 August 2016 
(the "Open Offer Warrants"), certain holders of Open Offer Warrants have 
elected to exercise 122,120 Open Offer Warrants.  Each Open Offer 
Warrant entitles the holder to one ordinary share of 0.1p each in the 
Company ("Ordinary Shares") at a price of 0.5 pence per Ordinary Share. 
Accordingly, the Company has today issued 122,120 new Ordinary Shares. 
GBP610.60 has been received by the Company as a result of the exercise 
of the Open Offer Warrants. 
 
   Application has today been made to the London Stock Exchange plc for the 
47,741,166 New Ordinary Shares to be admitted to trading on the AIM 
market with admission expected to occur on 13 October 2016.  The issued 
new Ordinary Shares will rank pari passu in all respects with the 
existing Ordinary Shares. 
 
   Following Admission, the issued ordinary share capital of Vast will 
consist of 3,247,080,425 Ordinary Shares. There are no Ordinary Shares 
held in treasury, therefore the total number of voting rights in the 
Company, following the issue of the 47,741,166 New Ordinary Shares is 
3,247,080,425. 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc 
 Roy Pitchford (Chief Executive Officer)                 [phone] - Office Romania 
                                                         [phone] - Mobile Romania 
                                                         [phone] - Mobile UK 
Strand Hanson Limited - Financial & Nominated Adviser  www.strandhanson.co.uk 
 James Spinney                                          [phone] 
 James Bellman 
Brandon Hill Capital Ltd - Joint Broker                www.brandonhillcapital.com 
 Jonathan Evans                                         [phone] 
Peterhouse Corporate Finance Ltd - Joint Broker        www.pcorpfin.com 
 Duncan Vasey                                           [phone] 
St Brides Partners Ltd                                 www.stbridespartners.co.uk 
 Susie Geliher                                          [phone] 
 Charlotte Page 
 
 
   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"). 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Vast Resources plc via Globenewswire 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

October 07, 2016 13:15 ET (17:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.