RE: RNS7 Nov 2019 15:58
Subscription for shares under the Company’s Share Appreciation Rights Scheme
Vast Resources plc, the AIM-listed mining company, announces that further to the award of rights under the Company’s Share Appreciation Rights Scheme (the ‘Scheme’) announced on 5 November 2019 a participant has on 7 November exercised rights to subscribe for 20,000,000 Ordinary Shares (the ‘Subscription Shares’) in the Company at a price of 0.25p per share.
£50,000 has been received by this Company in respect of this subscription.
The issue of the Subscription Shares is conditional on their admission to trading on AIM ("Admission"). Application is being made for the Subscription Shares to be admitted to trading on AIM and it is expected that Admission will become effective and dealing in the Subscription Shares will commence on or around 13 November 2019. The Subscription Shares will rank pari passu with existing Ordinary Shares.
Following Admission, the total issued share capital of the Company will be 10,273,082,366. The above figure of 10,273,082,366 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.