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

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   26 November 2020 
 
   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, announces the offer 
of rights as set out below (the 'Award') under the Share Appreciation 
Rights Scheme (the 'Scheme') which was set up to incentivise directors 
and senior executives/consultants of the Company. 
 
   The basis of the Scheme 
 
   The basis of the Scheme, for which new authorities were last granted at 
the Annual General Meeting of the Company in 2019, is to grant a fixed 
number of 'share appreciations rights' ('SARs') to participants.  Each 
SAR consists of rights at the discretion of the Company either to 
receive ordinary shares in Vast (the 'Shares') based on a price equal to 
the six month VWAP of a Share immediately preceding the grant of the SAR 
(the 'Exercise Price') or to receive cash to a value equal to the 
difference between the Exercise Price and the daily VWAP on the date of 
exercise of a SAR.  A SAR may be exercised at any time between a given 
Vesting date ('Vesting Date') and the final date (the 'Vesting Period'). 
The Vesting Date is the date on which the Company confirms that any 
performance or other condition attached to the SAR has been satisfied. 
 
   The Award 
 
 
 
 
                           Aggregate SARs    Vesting date              Vesting 
                               awarded                              quantities 
------------------------  -----------------  --------------  ----------------- 
Paul Fletcher                35,000,000      Immediate              17,500,000 
 Finance Director                             31 March 2021         17,500,000 
------------------------  -----------------  --------------  ----------------- 
Roy Tucker                   22,500,000      Immediate              11,250,000 
 Executive Director                           31 March 2021         11,250,000 
------------------------  -----------------  --------------  ----------------- 
Craig Harvey                 20,000,000      Immediate              10,000,000 
 Chief Operating Officer                      31 March 2021         10,000,000 
------------------------  -----------------  --------------  ----------------- 
Nick Hatch                   10,000,000      Immediate               5,000,000 
 Non-Executive Director                       31 March 2021          5,000,000 
------------------------  -----------------  --------------  ----------------- 
Other participants           52,500,000      Immediate              26,250,000 
                                              31 March 2021         26,250,000 
------------------------  -----------------  --------------  ----------------- 
 
 
   The first half of each grant of Award vests immediately as the Company 
customarily makes grants in or about March of each year.  The Exercise 
Price for this grant of Award is 0.198p. 
 
   The SARs which have not vested are subject to satisfactory continued 
employment or engagement with the Company or its subsidiaries.  All SARs 
that are issued in accordance with the grant of Award have a Vesting 
Period of three years. 
 
   **ENDS** 
 
   For further information, visit 
https://www.globenewswire.com/Tracker?data=yXzwE4VKtMvCzNeor8L5gqVINrQai2ZxizXbpMcOuiI_9INPv8AtRsUChWKN7C01ZlUdxAZoqSQLiERhm6v46g== 
www.vastplc.com, follow the Company on Twitter @vast_resources and 
LinkedIn, or please contact: 
 
 
 
 
Vast Resources plc                                www.vastplc.com 
 Andrew Prelea - CEO                               [phone] 
 Andrew Hall 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    [phone] 
 James Biddle 
SP Angel Corporate Finance LLP -- Joint Broker    www.spangel.co.uk 
 Richard Morrison                                  [phone] 
 Caroline Rowe 
Axis Capital Markets Limited -- Joint Broker      www.axcap247.com 
 Richard Hutchison                                 [phone] 
St Brides Partners Limited                        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"). 
 
   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 License 
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. 
 
 
 
 

(END) Dow Jones Newswires

November 26, 2020 07:30 ET (12:30 GMT)

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