Last checked at 10 Sep 2020 12:30
Director Share PurchaseVast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
10 September 2020
Vast Resources plc(“Vast” or the “Company”)
Director Share Purchase
Vast Resources plc, the AIM-listed mining company, announces that it was notified on 10 September 2020 that Mr Andrew Prelea, Chief Executive Director of the Company, purchased 15,000,000 ordinary shares of 0.1 pence each in the share capital of the Company (“Ordinary Shares”) at a price of 0.159 pence per Ordinary Share on the Secondary Market and that Mr Paul Fletcher, Chief Financial Officer of the Company, purchased 10,000,000 ordinary shares of 0.1 pence each in the share capital of the Company (“Ordinary Shares”) at a price of 0.163 pence per Ordinary Share on the Secondary Market.
Following this purchase, Mr Prelea’s total beneficial ownership in the Company is 81,512,809 Ordinary Shares, which represents approximately 0.66% of the Company’s issued share capital and Mr Fletcher’s total beneficial ownership in the Company is 34,048,104 Ordinary Shares, which represents approximately 0.28% of the Company’s issued share capital.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the directors' dealing in the Ordinary Shares.
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc Andrew Prelea (Chief Executive Officer)Andrew Hall | 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 |
| Blytheweigh Tim Blythe Megan Ray | www.blytheweigh.com +44 (0) 20 7138 3204 |
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 an 80% interest in the Baita Plai Polymetallic Mine. Baita Plai is located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. Work is now currently underway towards first concentrate production as well as efforts in place to establish a maiden Resource under the JORC code.
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 license area.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Andrew Prelea
2.
Reason for the notification
a)
Position/status:
Chief Executive Officer
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Vast Resources Plc
b)
LEI:
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of £0.1 each
b)
Nature of the transaction:
Share purchase
c)
Price(s) and volume(s):
| Price(s) | Volume(s) |
| £0.00159 | 15,000,000 |
d)
Aggregated information:
Aggregated volume:
Price:
| Price(s) | Volume(s) |
| £0.00159 | 15,000,000 |
e)
Date of the transaction:
10 September 2020
f)
Place of the transaction:
AIM, London Stock Exchange
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name:
Paul Fletcher
2.
Reason for the notification
a)
Position/status:
Finance Director
b)
Initial notification/Amendment:
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name:
Vast Resources Plc
b)
LEI:
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument:
Identification code:
Ordinary shares of £0.1 each
b)
Nature of the transaction:
Share purchase
c)
Price(s) and volume(s):
| Price(s) | Volume(s) |
| £0.00163 | 10,000,000 |
d)
Aggregated information:
Aggregated volume:
Price:
| Price(s) | Volume(s) |
| £0.00163 | 10,000,000 |
e)
Date of the transaction:
10 September 2020
f)
Place of the transaction:
AIM, London Stock Exchange
Attachment
Director Share Purchase