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Pin to quick picksVast Res Regulatory News (VAST)

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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
20th Apr 202112:15 pmGNWDirector Share Purchase
20th Apr 20217:00 amGNWLetter to shareholders relating to Proposed Capital Reorganisation & Notice of General Meeting
15th Apr 20212:00 pmRNSPrice Monitoring Extension
13th Apr 20217:00 amRNSAppointment of New Processing Manager - Baita Plai
8th Apr 20217:00 amRNSAppointment of Underground Mine Manager
30th Mar 20217:00 amGNWBaita Plai Revised Mine Plan & Investor Presentation
26th Mar 20214:41 pmRNSSecond Price Monitoring Extn
26th Mar 20214:36 pmRNSPrice Monitoring Extension
26th Mar 20212:06 pmRNSSecond Price Monitoring Extn
26th Mar 20212:00 pmRNSPrice Monitoring Extension
26th Mar 202111:05 amRNSSecond Price Monitoring Extn
26th Mar 202111:00 amRNSPrice Monitoring Extension
17th Mar 202110:00 amRNSMine Plan Development Update
1st Mar 202111:15 amGNWTotal Voting Rights
26th Feb 20214:40 pmRNSSecond Price Monitoring Extn
26th Feb 20214:35 pmRNSPrice Monitoring Extension
26th Feb 20212:05 pmRNSSecond Price Monitoring Extn
26th Feb 20212:00 pmRNSPrice Monitoring Extension
26th Feb 20211:15 pmGNWBaita Plai Update & Revision of Mining Plan
27th Jan 202111:00 amGNWInterim Results
26th Jan 20213:54 pmGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
22nd Jan 20217:00 amRNSAppointment of New General Manager at Baita Plai
7th Jan 20212:45 pmGNWExercise of Warrants and Issue of Equity
7th Jan 20212:06 pmRNSSecond Price Monitoring Extn
7th Jan 20212:01 pmRNSPrice Monitoring Extension
7th Jan 202112:30 pmGNWUpdate on Asset Backed Debt Facility & Corporate Update
24th Dec 202012:00 pmGNWExercise of Warrants and Issue of Equity
16th Dec 20207:00 amGNWUpdate on Asset Backed Debt Facility
11th Dec 20209:47 amGNWDirector Share Purchase
10th Dec 20207:00 amGNWUpdate on sales of Baita Plai concentrate
9th Dec 20209:05 amRNSSecond Price Monitoring Extn
9th Dec 20209:00 amRNSPrice Monitoring Extension
9th Dec 20207:00 amGNWUpdate on asset backed debt finance and Placing to raise £4.8 million before costs
30th Nov 20204:15 pmGNWResult of Annual General Meeting
30th Nov 20203:59 pmGNWTotal Voting Rights
30th Nov 202012:00 pmGNWProgress on asset backed debt finance
26th Nov 202012:30 pmGNWAward of rights under the Company’s Share Appreciation Rights Scheme
26th Nov 20207:00 amGNWFirst commercial sale of Baita Plai concentrate completed
24th Nov 20207:00 amGNWHolding(s) in Company
24th Nov 20207:00 amGNWHolding(s) in Company
23rd Nov 20204:40 pmGNWResult of General Meeting and Acquisition of remaining 20% in Baita Plai Polymetallic Mine
23rd Nov 20207:00 amGNWFirst commercial sale of concentrate confirmed at Baita Plai
13th Nov 202011:45 amGNWUpdate on first sale of concentrate at Baita Plai
13th Nov 20207:00 amGNWIncreased Exploration Target at Baita Plai
10th Nov 202012:32 pmGNWAtlas Special Opportunities LLC Non-Conversion Agreement
9th Nov 20207:00 amGNWNotice to Shareholders
6th Nov 20206:27 pmGNWLetter to Shareholders and Notice of GM
6th Nov 20206:24 pmGNWNotice of AGM
30th Oct 20206:06 pmRNSTotal Voting Rights
29th Oct 202012:30 pmGNWBaita Plai JORC Resource & Reserve Report

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