RNS1 Jun 2020 14:53
Vast Resources plc
(“Vast” or the “Company”)
Atlas Special Opportunities LLC Interest Payment Election
Vast Resources plc, the AIM-listed mining company, announces that the Company has elected to pay the interest of $29,591.45 due on 29 May 2020 on the $7,101,947 Bond issued to Atlas announced on 31 January 2020 by the issue of 16,911,058 shares (the ‘Issue Shares’) at an issue price of 0.14202 pence per share. Under the terms of the Atlas Bond Issuance Deed the Company is entitled to elect to make payment of interest on the Bond in shares at an issue price of 90% of the Volume Weighted Average Price of the Company’s shares on the business day prior to the interest payment date.
Admission of and dealings in the Issue Shares
Application is being made for the Issue Shares to be admitted to trading on AIM (‘Admission’) and it is expected that Admission will become effective and dealing in the Issue Shares will commence on or around 4 June 2020. The Issue Shares will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 11,312,660,643. The above figure of 11,312,660,643 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.