Vast Resources PLC Placing and Subscription (4963E)
18 October 2018 - 10:30PM
UK Regulatory
TIDMVAST
RNS Number : 4963E
Vast Resources PLC
18 October 2018
Vast Resources plc / Ticker: VAST / Index: AIM / Sector:
Mining
18 October 2018
Vast Resources plc
("Vast" or the "Company")
Placing and Subscription to raise GBP525,086 before costs
Vast Resources plc, the AIM-listed mining company with operating
mines in Romania and Zimbabwe, is pleased to announce that it has
raised in aggregate GBP525,086 (before costs) through a placing
(the "Placing") and subscription (the "Subscription") of 87,514,451
ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at
a price of 0.6 pence per Ordinary Share (the "Placing and
Subscription Shares"). The Placing was for 70,847,785 Ordinary
Shares and was undertaken by the Company's Joint Broker SVS
Securities Plc. The Subscription was for 16,666,666 Ordinary Shares
and was subscribed equally by Andrew Prelea and Roy Tucker,
directors of the Company. The Placing and Subscription Shares were
issued under existing authorities available to the Board and not
under the authorities to be sought at the Annual General Meeting of
the Company to take place on 22 October 2018. The funds raised from
the Placing and Subscription will be applied towards the purposes
explained in the Chairman's circular to shareholders announced on
28 September 2018.
Admission of and Dealings in the Placing Shares
The issue of the Placing and Subscription Shares is conditional
on their admission to trading on AIM ("Admission"). Application is
being made for the Placing and Subscription Shares to be admitted
to trading on AIM and it is expected that Admission will become
effective and dealing in the Placing and Subscription Shares will
commence on 24 October 2018. The Placing and Subscription Shares
will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the
Company will be 5,602,336,502. The above figure of 5,602,336,502
may be used by shareholders 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.
Following Admission, the Ordinary Shares held by Andrew Prelea
and Roy Tucker will be
26,772,069 and 39,940,362 respectively representing 0.48% and
0.71% respectively of the total issued share capital of the
Company.
**S**
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") and the
notification below, made in accordance with the MAR, provides
further detail in respect of the Directors subscribing for
Subscription Shares as described above.
Andrew Prelea
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Andrew Prelea
---------------------------- -------------------------------------
2 Reason for notification
-------------------------------------------------------------------
a) Position / status Director
---------------------------- -------------------------------------
b) Initial notification Initial
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Vast Resources plc
---------------------------- -------------------------------------
b) LEI 213800QXLO766CMGCQ60
---------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------
a) Description of the Ordinary shares of 0.1 pence each
financial instrument, in Vast Resources plc
type of instrument
Identification code GB00B142P698
VAST
---------------------------- -------------------------------------
b) Nature of the transaction Subscription of new ordinary shares
as described above
---------------------------- -------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.6 pence 8,333,333
-----------
---------------------------- -------------------------------------
d) Aggregated information n/a
---------------------------- -------------------------------------
e) Date of the transaction 18 October 2017
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
---------------------------- -------------------------------------
Roy Tucker
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Roy Tucker
---------------------------- -------------------------------------
2 Reason for notification
-------------------------------------------------------------------
a) Position / status Director
---------------------------- -------------------------------------
b) Initial notification Initial
/Amendment
---------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Vast Resources plc
---------------------------- -------------------------------------
b) LEI 213800QXLO766CMGCQ60
---------------------------- -------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------
a) Description of the Ordinary shares of 0.1 pence each
financial instrument, in Vast Resources plc
type of instrument
Identification code GB00B142P698
VAST
---------------------------- -------------------------------------
b) Nature of the transaction Subscription of new ordinary shares
as described above
---------------------------- -------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
0.6 pence 8,333,333
-----------
---------------------------- -------------------------------------
d) Aggregated information n/a
---------------------------- -------------------------------------
e) Date of the transaction 18 October 2017
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
---------------------------- -------------------------------------
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 and Zimbabwe.
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 Romanian portfolio also includes
interests in two brownfield development projects; the Baita Plai
Polymetallic Mine (80% interest), which has a reported
1,800,000-tonne copper-silver-zinc-lead-gold-tungsten-molybdenum
ore body at 6% copper equivalent (Russian Reserves and Resources
Reporting System) within the mining licence area; and the Blueberry
Project (29.41% interest), a 7.285km(2) brownfield area of
prospectivity in the Golden Quadrilateral of Romania located in the
immediate vicinity of the now closed Baia de Aries mine.
The Company also has interests in a number of projects in
Zimbabwe including a controlling 25 per cent. interest in the
producing Pickstone-Peerless Gold Mine, a 23.75% economic interest
in the Eureka Gold Mine, and an 86.67% interest in a SPV which has
a due diligence access agreement and pre-agreed joint venture terms
on a diamond concession within the Marange Diamond Fields, widely
considered to be one of the richest sources of alluvial diamonds
globally.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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