Last checked at 31 Mar 2020 07:00
Election to pay in shares 29 March 2020 interest of $29,591.45 due to Atlas Special Opportunities LLC (‘Atlas’)
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
31 March 2020
Vast Resources plc(“Vast” or the “Company”)
Election to pay in shares 29 March 2020 interest of $29,591.45 due to Atlas Special Opportunities LLC (‘Atlas’)
Issue of 13,703,171 shares
Vast Resources plc, the AIM-listed mining company, announces that the Company has elected to pay the interest due on 29 March 2020 on the $7,101,947 Bond issued to Atlas announced on 31 January 2020 by the issue of 13,703,171 shares (the ‘Issue Shares’) at an issue price of 0.17415p per share. Under the terms of the Atlas Bond Issuance Deed the Company is entitled to elect to make payment of interest on the Bond in shares at an issue price of 90% of the Volume Weighted Average Price of the Company’s shares on the business day prior to the interest payment date.
Admission of and dealings in the Issue Shares
Application is being made for the Issue Shares to be admitted to trading on AIM (‘Admission’) and it is expected that Admission will become effective and dealing in the Issue Shares will commence on or around 3 April 2020. The Issue Shares will rank pari passu with existing Ordinary Shares.
Following Admission the total issued share capital of the Company will be 10,287,065,759. The above figure 10,287,065,759 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.
**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) 1491 615 232 |
| Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 |
| SP Angel Corporate Finance LLP – Broker Richard Morrison Caroline Rowe | www.spangel.co.uk +44 (0) 20 3470 0470 |
| 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 an AIM listed mining company with mines in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is now currently underway towards developing and recommissioning the mine and the Community Concession Block in Chiadzwa, Zimbabwe.
Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.
Attachment
Election to pay in shares 29 March 2020 interest of $29,591.45 due to Atlas Special Opportunities LLC