Statement re Press Article
Summary by AI BETAClose X
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
17 March 2026
Vast Resources plc
("Vast" or the "Company")
Statement re Press Article
Vast Resources plc, the AIM quoted mining company, notes that following the dispute with the unions and certain remaining members of the Vast Baita Plai SA ("VBPSA") workforce in Romania, as referenced in the RNS of 10 June 2024, an article was published yesterday in local Romanian press at the instigation of a group of VBPSA employees who have been recently served notice as a part of the VBPSA reorganisation plan (the "Reorganisation"), stating that such employees intend to conduct a protest due to their assertion the VBPSA has not followed due process in respect of the Reorganisation.
The Board strongly disputes this claim and believes it has followed due process and taken appropriate advice in Romania throughout the Reorganisation process. The Reorganisation gives VBPSA the right to dismiss, without significant cost, those employees who have been abusing the system, particularly in respect of taking of medical leave, and provides the possibility to re-employ those employees whom VBPSA wishes to retain on new contracts and terms. Those employees who were demanding a reduction in working hours of about 25% and an increase in paid leave to almost twice that required under National regulations are those who have been dismissed, and in the Board's view are, accordingly, seeking to create a negative narrative in the media with respect to VBPSA as they have been advised they will not be re-employed. For the avoidance of doubt, the Board does not believe the article nor the statements therein have any material impact on the Company and maintain the position that the Reorganisation is in the best interests of VBPSA, and Company, and all Vast shareholders.
**ENDS**
For further information, please visit the Company's website at www.vastplc.com or contact:
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Vast Resources plc Andrew Prelea (CEO) |
+44 (0) 20 7846 0974
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Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman / Imogen Ellis |
+44 (0) 20 7409 3494
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Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) |
+44 (0) 20 7408 4050 |
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Axis Capital Markets Limited - Joint Broker |
+44 (0) 20 3206 0320 |
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St Brides Partners Limited Susie Geliher / Charlotte Page |
vast@stbridespartners.co.uk +44 (0) 20 7236 1177 |
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