Last checked at 5 May 2021 13:00
Result of General Meeting, Capital Reorganisation Total Voting RightsVast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
5 May 2021
Vast Resources plc(“Vast” or the “Company”)
Result of General MeetingCapital ReorganisationTotal Voting Rights
Vast Resources plc, the AIM-listed mining company, announces that at the Company’s General Meeting held earlier today, the proposed resolution to effect the capital reorganisation (the ‘Resolution’) was duly passed on a poll vote with 93.50% of the votes cast being in favour.
Application has been made for the 213,004,895 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 6 May 2021. The ISIN Code for the New Ordinary Shares will be GB00BMD68046.
Total Voting Rights
As result of the passing of the Resolution, and as announced on 20 April 2021, the number of ordinary shares in issue has been reduced by a factor of 100 and as from Admission will stand at 213,004,895 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.
**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 |
| Axis Capital Markets Limited – 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.