Last checked at 20 Apr 2021 12:15
Director Share PurchaseVast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
20 April 2021
Vast Resources plc(“Vast” or the “Company”)
Director Share Purchase
Vast Resources plc, the AIM-listed mining company, announces that it was notified on 20 April 2021 that Mr Andrew Prelea, Chief Executive Director of the Company, purchased 25,000,000 ordinary shares of 0.1 pence each in the share capital of the Company (“Ordinary Shares”) at a price of 0.837 pence per Ordinary Share on the Secondary Market.
Following this purchase, Mr Prelea’s total beneficial ownership in the Company is 1,606,514,739 Ordinary Shares, which represents approximately 7.54% of the Company’s issued share capital.
Market Abuse Regulation (MAR) Disclosure
Certain 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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of this announcement.
The notifications below, made in accordance with the requirements of the UK 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 plcAndrew Prelea (CEO)Andrew 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 MorrisonCaroline 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 LimitedSusie Geliher | www.stbridespartners.co.uk +44 (0) 20 7236 1177 |
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.
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:
213800QXLO766CMGCQ60
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) |
| £0.0837 | 25,000,000 |
d)
Aggregated information:
Aggregated volume:
Price:
| Price(s) | Volume(s) |
| £0.0837 | 25,000,000 |
e)
Date of the transaction:
20 April 2021
f)
Place of the transaction:
AIM, London Stock Exchange