VAST Vast Resources Plc

 
TIDMVAST 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   15 November 2016 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Exercise of Conversion Rights 
 
   Vast Resources plc, the AIM-listed mining company with operations in 
Romania and Zimbabwe, announces that Bracknor Fund Limited ("Bracknor") 
has given notice to the Company that it elects to convert GBP100,000 of 
its one year convertible loan notes ("Convertible Loan Notes") of 
GBP1,608,500 (US$2,000,000) to the Company into 66,666,666 ordinary 
shares of 0.1 pence each (the "Conversion Shares") at an exercise price 
of 0.15 pence per share in accordance with the terms of the Convertible 
Loan, as announced on 11 October 2016. 
 
   It has been agreed that the US$2,000,000 Convertible Loan Notes issued 
to Bracknor on 11 October 2016 be denominated in Sterling, with the 
aggregate initial value being GBP1,608,500. Accordingly, GBP308,500 of 
Convertible Loan Notes now remain outstanding. 
 
   Application will be made to the London Stock Exchange plc for 66,666,666 
new Ordinary Shares to be admitted to trading on the AIM market with 
admission expected to occur on or around 21 November 2016 ("Admission"). 
The issued new Ordinary Shares will rank pari passu in all respects with 
the existing Ordinary Shares. 
 
   Following Admission the issued ordinary share capital of Vast will 
consist of 3,938,258,842 Ordinary Shares.  There are no Ordinary Shares 
held in treasury.  3,938,258,842 represents the total number of voting 
rights in the Company and may be used by shareholders as the denominator 
for the calculations by which they can determine if they are required to 
notify their interest in, or a change to their interest in the Company 
under the Financial Conduct Authority's Disclosure and Transparency 
Rules. 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc 
 Roy Pitchford (Chief Executive Officer)                 +40 (0) 372 988 988 - Office Romania 
                                                         +40 (0) 741 111 900 - Mobile Romania 
                                                         +44 (0) 7793 909985 - Mobile UK 
Strand Hanson Limited - Financial & Nominated Adviser  www.strandhanson.co.uk 
 James Spinney                                          +44 (0) 20 7409 3494 
 James Bellman 
Brandon Hill Capital Ltd - Joint Broker                www.brandonhillcapital.com 
 Jonathan Evans                                         +44 (0)20 3463 5016 
Peterhouse Corporate Finance Ltd - Joint Broker        www.pcorpfin.com 
 Duncan Vasey                                           +44 (0) 20 7469 0936 
St Brides Partners Ltd                                 www.stbridespartners.co.uk 
 Susie Geliher                                          +44 (0) 20 7236 1177 
 Charlotte Page 
 
 
   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"). 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Vast Resources plc via Globenewswire 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

November 15, 2016 11:30 ET (16:30 GMT)

Vast Resources (LSE:VAST)
Historical Stock Chart
From Mar 2024 to Apr 2024

Vast Resources (LSE:VAST)
Historical Stock Chart
From Apr 2023 to Apr 2024