Member Info for Buda_

It's with Waltermitty and Co.

Bit of a mismatch that; one's harmless if repetitive while the other is a self-aggrandizing, cretinous windbag.

I'm not ramping this, I'm calling you a liar. But do carry on.

I wouldn't worry too much; the chances of SV having shorted this are as likely as AP announcing the diamonds...

file SV alongside all the other Billy Liar mentalists that populate these boards.

Wow. ok, then this is not looking good.

From an earlier RNS -

"· As at 25 April 2023, the Company had cash of £516,000 with current contractual liabilities of £231,000 primarily relating to one-off expenses incurred for insurance and advisory fees during April 2023.

· The Company also has ongoing costs including directors' fees, insurance costs, AIM listing fees, registrar fees, professional and other advisers' fees and website hosting costs. The directors of the Company (the "Directors" and together, the "Board") are taking steps to renegotiate fees where possible, however the current monthly spend is approximately £40,000 before any one-off expenses including advisory costs relating to the future of the Company."

40k? I'd bet my life that the two remaining directors are on the current tax efficient monthly salary of £1047.50... so where's the other £37k going? If the idea is insolvency to avoid audit, surely in the absence of shareholder resolution the court would look at the books too?

"As of 25 May 2023, the Company had cash of approximately £248,000 (25 April 2023: £516,000) with contractual liabilities of approximately £72,000 (25 April 2023: £231,000). The Company has no trade but relatively significant on-going expenses."

I wonder how they're going to spin that as insolvent. They must have some primo web hosting plan...

Thanks for that Neil - I'd mis-read as both criteria need to be met, rather than either.

I've now re-read the RNS and it does state that they are doing this in order to circumnavigate another shareholder vote, as they know they would lose. So all will come down to how much money is in the company and what creditors it has. Either way, this is not a 24 hour turnaround, will take at least a few months to conclude. For shareholders It's now PH or nothing. Roll the dice...

Why/how could the next RNS be a suspension? There is a process to follow for for the compulsory liquidation and all they've announced is that they plan to submit a petition to the court. As that petition requires a minimum 75% shareholder vote to proceed (same resolution defeated ca 62 v 38 in the most recent vote) I don't see how the directors' plan moves forward. Happy to be corrected by more knowledgeable posters.

Seems clear to me - they lost the last vote for MVL 62% v 38%.. How do they envisage the same vote going to 75.1 % v 24.9%?

All the codes on here are wrong - just guesses by a poor algo. Every trade is a buy and a sell - the price & volume are the only important labels

To do this. Those selling now are effectively giving away any agency they had (obviously it depends on who is buying..)

"Apply directly to the court

A director can ask a court to order the company to stop trading and be liquidated (‘wound up’).

This is known as ‘compulsory liquidation’.

You need to show the court that:

the company cannot pay its debts of £750 or more

75% (by value of shares) of shareholders agree that the court can wind up the company"

As far as I can see, it would still require a 75% shareholder vote to carry.

Blimey. stick or twist... can this be blocked by shareholders?

Correct.

Ever thought of golf Porky? it's lovely out there..fresh air, bit of exercise, nice chat with Lockdowns ...

Yep, can't buy a sausage in the 30s... been trying since 9am. Is today the day for TR-1?

31 March 2023

Vast Resources plc

(‘Vast’ or the ‘Company’)

Update on announcement of 6 February 2023

Vast Resources plc, the AIM-listed mining company, announces that following receipt of the High Court Order for the return of the 129,400 carats of diamonds held in the custody of the Reserve Bank of Zimbabwe it can confirm that the processes for the release of the diamonds are continuing with the assistance of the Government.

A further announcement concerning the physical receipt of the diamonds will be made on finalisation.

**ENDS**

Vainglorious bore. You, not me.

Raises hand: Miss, who bought the sells?