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Atlas Special Opportunities LLC – Exercise of Conversion Rights

26 Jan 2021 15:54

Atlas Special Opportunities LLC – Exercise of Conversion Rights

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

26 January 2021

Vast Resources plc (‘Vast’ or the ‘Company’)

Atlas Special Opportunities LLC – Exercise of Conversion Rights

Vast Resources plc, the AIM-listed mining company, announces that Atlas Special Opportunities LLC has given notice to the Company that it elects to convert Bonds of USD 500,000 nominal value in accordance with the terms of the Bond Issuance Deed announced on 24 October 2019. The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 323,880,177 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.1128 pence per Ordinary Share.

Application will be made to the London Stock Exchange for 323,880,177 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 1 February 2021 (‘Admission’). The issued new Ordinary Shares will rank pari passu in all respects with existing Ordinary Shares.

Following Admission of the new Ordinary Shares the issued ordinary share capital of Vast will consist of 21,300,489,402 Ordinary Shares. There are no Ordinary Shares held in treasury. 21,300,489,402 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. 

**ENDS**

For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:

Vast Resources plc Andrew Prelea - CEOAndrew Hall - CCO www.vastplc.com +44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle www.beaumontcornish.com +44 (0) 020 7628 3396
SP Angel Corporate Finance LLP – Joint Broker Richard Morrison Caroline Rowe www.spangel.co.uk +44 (0) 20 3470 0470
Axis Capital Markets Limited – Joint Broker Richard Hutchison www.axcap247.com +44 (0) 20 3206 0320
St Brides Partners Limited Susie Geliher Charlotte Page www.stbridespartners.co.uk +44 (0) 20 7236 1177

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company’s Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M–3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.

Date   Source Headline
31st Jan 202211:01 amRNSPrice Monitoring Extension
31st Jan 20227:00 amGNWInterim Results: 1 May 2021 – 31 October 2021
31st Jan 20227:00 amGNWRefinancing of Atlas Special Opportunities LLC
31st Jan 20227:00 amGNWBaita Plai Update & Q4 2021 Production Report
12th Jan 202211:30 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
11th Jan 20223:30 pmRNSHolding(s) in Company
11th Jan 20222:06 pmRNSSecond Price Monitoring Extn
11th Jan 20222:00 pmRNSPrice Monitoring Extension
7th Jan 20224:41 pmRNSSecond Price Monitoring Extn
7th Jan 20224:36 pmRNSPrice Monitoring Extension
29th Dec 20212:00 pmGNWResult of AGM
21st Dec 20217:00 amGNWAnnual General Meeting Attendance Pre-Registration
20th Dec 202110:00 amRNSResponse to articles published in Zimbabwe
15th Dec 20214:40 pmRNSSecond Price Monitoring Extn
15th Dec 20214:35 pmRNSPrice Monitoring Extension
8th Dec 20217:00 amGNWHolding(s) in Company
7th Dec 20217:00 amGNWBoard Update
30th Nov 20211:00 pmGNWNotice of Annual General Meeting & Online Investor Presentation
29th Nov 202111:05 amRNSSecond Price Monitoring Extn
29th Nov 202111:00 amRNSPrice Monitoring Extension
29th Nov 20217:00 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
25th Nov 20211:15 pmGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
24th Nov 202111:30 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
10th Nov 20217:00 amGNWBaita Plai Update
5th Nov 20217:00 amRNSQ & A
28th Oct 20213:45 pmGNWFinal Results
28th Oct 20219:05 amRNSSecond Price Monitoring Extn
28th Oct 20219:00 amRNSPrice Monitoring Extension
28th Oct 20217:00 amGNWPlacing to raise £1,350,000 before costs & Extension of Directors’ Lock up period
25th Oct 202110:30 amRNSCompany Update
23rd Aug 20217:01 amRNSDirector Appointment
23rd Aug 20217:00 amRNSAcquisition of Ghaghoo Diamond Mine
10th Aug 202111:00 amRNSDirector/PDMR Shareholding
10th Aug 20217:00 amRNSBaita Plai - Summary of Refurbishment Works
10th Aug 20217:00 amGNWPlacing and Subscription to raise £1,762,539.81 & Baita Plai Operational Update
10th Aug 20217:00 amGNWRestructure of Atlas Equity Linked Convertible Bond to an Extended Fixed Term Loan
7th Jul 20211:15 pmGNWDirector Share Purchase
6th Jul 20214:35 pmRNSPrice Monitoring Extension
6th Jul 202112:33 pmRNSAward of Rights Under SARS
28th Jun 20217:00 amGNWAppointment of Corporate Broker
18th Jun 20217:00 amGNWAppointment of Wardell Armstrong For Verification of Increased JORC Resource and high-level Confirmation of Existing JORC Report
9th Jun 202110:00 amRNSSuccessful Conclusion of CBA: Vast Baita Plai S.A
25th May 20217:00 amRNSBaita Plai Video: End to End Processing Chain
6th May 20218:00 amGNWNew Director Holdings
5th May 20211:00 pmGNWResult of General Meeting, Capital Reorganisation Total Voting Rights
4th May 20217:00 amRNSAppointment of Romanian Country Manager
30th Apr 20215:30 pmGNWTotal voting rights
27th Apr 202111:05 amRNSSecond Price Monitoring Extn
27th Apr 202111:00 amRNSPrice Monitoring Extension
27th Apr 20218:18 amRNSBaita Plai Update

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