Major Institutional Shareholder TR-1 Disclosure
20/04/2023 14:30
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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
14 April 2023
Vast Resources plc
(‘Vast’ or the ‘Company’)
Major Institutional Shareholder TR-1 Disclosure
Vast Resources plc, the AIM-listed mining company, is pleased to announce that
further to the announcement made on 14 April 2023 regarding Capstone
Investment Advisors LLC (“Capstone”) submitting a TR-1 disclosure, the
Company has received the below TR-1 from Barclays Bank which is holding
Capstone’s interest via a swap financial instrument.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii): VAST RESOURCES PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) (iii):
3. Details of person subject to the notification obligation (iv)
Name Barclays Bank Plc
City and country of registered office (if applicable) London, United Kingdom
4. Full name of shareholder(s) (if different from 3.) (v)
Name Barclays Capital Securities Ltd
City and country of registered office (if applicable) London, United Kingdom
5. Date on which the threshold was crossed or reached (vi): 12/04/2023
6. Date on which issuer notified (DD/MM/YYYY): 14/04/2023
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B) (vii)
Resulting situation on the date on which threshold was crossed or reached 5.53% 0% 5.53% 150,000,001
Position of previous notification (if applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible) Number of voting rights (ix) % of voting rights
Direct (DTR5.1) Indirect (DTR5.2.1) Direct (DTR5.1) Indirect (DTR5.2.1)
GB00BMD68046 150000000 5.53%
SUBTOTAL 8. A 150000000 5.53%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration date (x) Exercise/ Conversion Period (xi) Number of voting rights that may be acquired if the instrument is exercised/converted. % of voting rights
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument Expiration date (x) Exercise/ Conversion Period (xi) Physical or cash Settlement (xii) Number of voting rights % of voting rights
Portfolio Swap 02/01/2024 Cash 1 0%
SUBTOTAL 8.B.2 1 0%
9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) (xiv) X
Name (xv) % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold
Barclays Capital Securities Ltd 5.53% 5.53%
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information (xvi)
Chain of controlled undertakings: * Barclays PLC
* Barclays Bank PLC (100%)
* Barclays Capital Securities Ltd (100%)
Place of completion London, United Kingdom
Date of completion 14/04/2023
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 plc Andrew Prelea (CEO) Andrew Hall (CCO) www.vastplc.com + 44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated Advisor Roland Cornish James Biddle www.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 Hutchinson www.axcap247.com +44 (0) 20 3206 0320
St Brides Partners Limited Susie 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, 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 a share of
revenue generated 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 equivalent over all sales of non-ferrous concentrate and any
other metals produced.
In Zimbabwe, the Company is preparing for the release of its diamonds
previously mined by the Company and preparing for their marketing. Upon the
finalisation of the process the Company will recommence its focus on the
finalisation of the mining agreement on the Community Diamond Concession in
the Marange Diamond Fields
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