Vast Resources plc Subscription To Raise Gbp109,800 Before Costs

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   24 June 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Subscription to raise GBP109,800 before costs 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to 
announce that further to its announcement of 22 June 2020 relating to a 
Placing to raise GBP1,486,900 before costs (the "Placing"), it has now 
raised as contemplated a further amount in aggregate of GBP109,800 
before costs through a subscription (the 'Subscription') of 61,000,000 
ordinary shares of 0.1p in the Company ('Ordinary Shares') at a price of 
0.18p per Ordinary Share (the 'Subscription Shares'), being the same 
price as the Placing. 
 
   Application has been made to AIM for the Subscription Shares, which will 
rank pari passu with existing Ordinary Shares, to be admitted to trading 
AIM ('Admission').  It is expected that Admission will become effective 
and dealing will commence in respect of the issue of the Subscription 
Shares on or around 30 June 2020.  The Subscription is conditional on 
Admission. 
 
   Following the Admission, and following the earlier Admission of the 
first tranche of the Placing Shares announced on 22 June 2020 (referred 
to as the First Admission), the total issued share capital of the 
Company will be 11,588,660,643.  Following Admission of the second 
tranche of the Placing Shares on or around 6 July 2020 as announced on 
22 June 2020 (referred to as the Second Admission), the total issued 
share capital of the Company will be 12,199,716,198.  The above figures 
of 11,588,660,643 and 12,199,716,198 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. 
 
   **ENDS** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc               www.vastplc.com 
 Andrew Prelea (Chief Executive   [phone] 
 Officer) 
 Andrew Hall 
Beaumont Cornish - Financial &   www.beaumontcornish.com 
 Nominated Adviser                [phone] 
 Roland Cornish 
 James Biddle 
SP Angel Corporate Finance LLP   www.spangel.co.uk 
 -- Joint Broker                  [phone] 
 Richard Morrison 
 Caroline Rowe 
Axis Capital Markets Limited --  www.axcap247.com 
 Joint Broker                     [phone] 
 Richard Hutchison 
Blytheweigh                      www.blytheweigh.com 
 Tim Blythe                       [phone] 
 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. 
 
   Attachment 
 
 
   -- Subscription to raise GBP109,800 before costs 
      https://ml-eu.globenewswire.com/Resource/Download/908ab045-5eaa-411f-b066-eb7f07e35cd9 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

June 24, 2020 13:27 ET (17:27 GMT)

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