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VAST Vast Resources Plc

0.34
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Vast Resources Plc LSE:VAST London Ordinary Share GB00BQ7WTT20 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.34 0.33 0.35 0.34 0.34 0.34 22,645,527 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Nonmtl Minrl Svcs, Ex Fuels 3.72M -10.51M -0.0024 -1.42 14.78M

Vast Resources plc Award Of Rights Under The Company's Share Appreciation Rights Scheme

01/03/2018 5:15pm

UK Regulatory


 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   1 March 2018 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Award of rights under the Company's Share Appreciation Rights Scheme 
 
   Vast Resources plc, the AIM-listed mining company with operating mines 
in Romania and Zimbabwe, announces the award of rights (the "Award"), as 
set out below, under its Share Appreciation Rights Scheme (the "Scheme"), 
which scheme was set up to incentivise directors and senior managers of 
the Company. 
 
   The basis of the Scheme 
 
   The basis of the Scheme, which was originally announced on 1 June 2015 
and for which new authorities were granted at the General Meeting of the 
Company on 10 November 2017, is to grant a fixed number of "share 
appreciation rights" ("SARs") to participants.  Each SAR is credited 
rights to receive at the discretion of the Company ordinary shares in 
VAST (the "Shares") or cash to a value equal to the difference between 
the six month VWAP of a Share immediately preceding the grant of the 
SARs and the daily VWAP of a Share on the date of exercise of a SAR.  A 
SAR may be exercised at any time between a given vesting date ("Vesting 
Date") and a final date (the "Vesting Period"). The Vesting Date is the 
date on which the Company confirms that any performance or other 
condition attaching to the SAR has been satisfied. 
 
   The Award 
 
 
 
 
                           Aggregate SARs     Vesting date        Vesting 
                               awarded                          quantities 
Andrew Prelea                36,000,000      31 March 2019      18,000,000 
 Chief Executive Officer                      31 March 2020      18,000,000 
Roy Tucker                   18,000,000      31 March 2019       9,000,000 
 Finance Director                             31 March 2020      9,000,000 
Craig Harvey                 18,000,000      31 March 2019       9,000,000 
 Chief Operating Officer                      31 March 2020      9,000,000 
Eric Diack                   10,000,000      31 March 2019       5,000,000 
 Non-Executive Director                       31 March 2020      5,000,000 
Senior Employees             19,000,000      31 March 2019       9,500,000 
                                              31 March 2020      9,500,000 
 
 
   The SARs are subject to continued employment by the Company or its 
subsidiaries.  All SARs issued in accordance with the Award have a 
Vesting Period of three years. 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                www.vastresourcesplc.com 
 Andrew Prelea (Chief Executive Officer)           +44 (0) 20 7236 1177 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    +44 (0) 020 7628 3396 
 James Biddle 
Brandon Hill Capital Ltd - Joint Broker           www.brandonhillcapital.com 
 Jonathan Evans                                    +44 (0) 20 3463 5016 
SVS Securities Plc - Joint Broker                 www.svssecurities.com 
 Tom Curran                                        +44 (0) 20 3700 0100 
 Ben Tadd 
 
  St Brides Partners Ltd                            www.stbridespartners.co.uk 
  Susie Geliher                                     +44 (0) 20 7236 1177 
  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"). 
 
   Notes 
 
   Vast Resources plc is an AIM listed mining and resource development 
company focussed on the rapid advancement of high quality brownfield 
projects and recommencing production at previously producing mines in 
Romania. 
 
   Vast Resources currently owns and operates the Manaila Polymetallic Mine 
in Romania, which was commissioned in 2015 and is focussed on its 
expansion through the development of a second open pit operation and new 
metallurgical complex at the Carlibaba Extension Area.  The Company's 
portfolio also includes an 80% interest in the Baita Plai Polymetallic 
Mine in Romania, where work is currently underway towards obtaining the 
relevant permissions to start developing and ultimately commissioning 
the mine. 
 
   The Company also has interests in a number of projects in Southern 
Africa including a controlling 25% interest in the producing 
Pickstone-Peerless Gold Mine in Zimbabwe. 
 
   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

March 01, 2018 12:15 ET (17:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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