Subscription to raise £109,800 before costs
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
24 June 2020
Vast Resources plc
(“Vast” or the “Company”)
Subscription to raise £109,800 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 £1,486,900 before costs (the “Placing”), it has now raised as contemplated a further amount in aggregate of £109,800 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
Andrew Prelea (Chief Executive Officer) Andrew Hall |
www.vastplc.com +44 (0) 20 7846 0974 |
|
Beaumont Cornish - Financial & Nominated Adviser
Roland Cornish James Biddle |
www.beaumontcornish.com +44 (0) 20 7628 3396 |
|
SP Angel Corporate Finance LLP – Joint Broker Richard Morrison Caroline Rowe |
www.spangel.co.uk
+44 (0) 20 3470 0470 |
|
Axis Capital Markets Limited – Joint Broker Richard Hutchison |
www.axcap247.com
+44 (0) 20 3206 0320 |
|
Blytheweigh
Tim Blythe Megan Ray |
www.blytheweigh.com +44 (0) 20 7138 3204 |
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.
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