Vast Resources plc Exercise Of Warrants And Issue Of Equity
22 February 2017 - 12:15AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
21 February 2017
Vast Resources plc
("Vast" or the "Company")
Exercise of Warrants and Issue of Equity
VAST Resources plc, the AIM-listed mining company with operations in
Romania and Zimbabwe, announces that Bracknor Fund Limited ("Bracknor")
has given notice to the Company that it elects to convert 12,500,000 of
its warrants ("Warrants") into 12,500,000 ordinary shares of 0.1pence
each (the "Warrant Shares") at an exercise price of 0.4 pence per share
in accordance with the terms of the Subscription Agreement as announced
on 11 October 2016. Notice of exercise of the Warrants was received by
Vast on 20 February 2017.
A subscription price of GBP50,000 is due to be paid to the Company by
Bracknor pursuant to the exercise of Warrants.
As announced on 22 November 2016, no Fee Loan Notes or any other loan
obligations remain outstanding to Bracknor. Following this exercise of
Warrants, 37,500,000 Warrants remain outstanding to Bracknor.
Application will be made to the London Stock Exchange plc for 12,500,000
new Ordinary Shares to be admitted to trading on the AIM market with
admission expected to occur on or around 28 February 2017 ("Admission").
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 4,548,185,288 Ordinary Shares. There are no Ordinary Shares
held in treasury. 4,548,185,288 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 to their interest in the Company
under the Financial Conduct Authority's Disclosure and Transparency
Rules.
**ENDS**
For further information, visit www.vastresourcesplc.com or please
contact:
Vast Resources plc
Roy Pitchford (Chief Executive Officer) +40 (0) 372 988 988 - Office Romania
+40 (0) 741 111 900 - Mobile Romania
+44 (0) 7793 909985 - Mobile UK
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
Peterhouse Corporate Finance Ltd - Joint Broker www.pcorpfin.com
Duncan Vasey +44 (0) 20 7469 0936
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").
**ENDS**
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
February 21, 2017 08:15 ET (13:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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