Rns2 Nov 2018 11:33
Categories: Date:
Placing to raise £1,000,000 before costs
Fri, 2nd Nov 2018 11:30
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
2 November 2018
Vast Resources plc
(“Vast†or the “Companyâ€)
Placing to raise £1,000,000 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 £1,000,000 (before costs) through a placing (the "Placing") of 188,679,245 ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at a price of 0.53 pence per Ordinary Share (the "Placing Shares"). The Placing was undertaken by the Company’s Joint Broker SVS Securities. The funds raised from the Placing will be applied towards the purposes explained in the Chairman’s letter in the circular to shareholders announced on 28 September 2018.
Admission of and Dealings in the Placing Shares
The issue of the Placing Shares is conditional on their admission to trading on AIM ("Admission"). Application is being made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Placing Shares will commence on 8 November 2018. The Placing Shares will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 5,791,015,747. The above figure of 5,791,015,747 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.