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Pin to quick picksVast Res Regulatory News (VAST)

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29 Feb 2024 12:32


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

29 February 2024

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

Results of General Meeting, Capital Reorganisation& Total Voting Rights

Vast Resources plc, the AIM-listed mining company, announces that at the Company’s General Meeting held earlier today, all resolutions were passed and as such, the capital reorganisation set out in the Notice of General meeting will be completed. The proxy results for the resolutions are set out below:

Resolution 1: 84.10% in favourResolution 2: 86.15% in favourResolution 3: 85.89% in favour

Application has been made for the 928,607,357 new ordinary shares (‘New Ordinary Shares’) to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective and dealing will commence in respect of the New Ordinary Shares on 1 March 2024. The ISIN Code for the New Ordinary Shares will be GB00BQ7WTT20 and the SEDOL will be BQ7WTT2.

Total Voting Rights

As result of the passing of the Resolutions, and as announced on 14 February 2024, the number of ordinary shares in issue has been reduced by a factor of six and as from Admission will stand at 928,607,357 ordinary shares of 0.1p each. This figure may then 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 Rules.

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.


For further information, visit www.vastplc.com or please contact:

Vast Resources plcAndrew Prelea (CEO)www.vastplc.com+44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated AdvisorRoland CornishJames Biddlewww.beaumontcornish.com+44 (0) 20 7628 3396
Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)www.shorecapmarkets.co.uk +44 (0) 20 7408 4050
Axis Capital Markets Limited – Joint Broker Richard Hutchinsonwww.axcap247.com +44 (0) 20 3206 0320
St Brides Partners LimitedSusie Geliherwww.stbridespartners.co.uk+44 (0) 20 7236 1177


Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, 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 Vast Baita Plai SA which owns 100% of 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 the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

Vast has an interest in a joint venture company which provides exposure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced. Vast has also been contractually appointed to manage and develop the Aprelevka Gold Mines located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600 oz of gold and 116,000 oz of silver per annum. It is the intention to increase production closer to historical peak production of 27,000 oz gold and 250,000 oz silver. Vast will be entitled to a 4.9% effective interest in the mines with the option to acquire equity in the future.

The Company retains a continued presence in Zimbabwe in respect of the Historic claims.

Date   Source Headline
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
23rd Apr 20217:00 amGNWIssue of Equity & Total Voting Rights
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

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