REG-Letter to Shareholders, Notice of General Meeting <Origin Href="QuoteRef">VAST.L</Origin>

Vast ResourcesAnnouncement

26/10/2017 08:01

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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
26 October 2017 
Vast Resources plc
("Vast" or the "Company")

Letter to Shareholders
Notice of General Meeting

Vast Resources plc, the AIM-listed mining company with operations in Romania
and Zimbabwe, 
announces that a Circular including a Notice of General Meeting of the Company
was posted to shareholders yesterday.  The General Meeting will be held at
2.30p.m. on Friday, 10 November 2017 at the Company's registered office,
6(th) Floor, 60 Gracechurch Street, London EC3V 0HR.  A copy of the Circular
and Notice of General Meeting will also be available on the Company's website
at www.vastresourcesplc.com.

Resolutions 1 and 3
It was announced on 20 October 2017 that at the Annual General Meeting of the
Company held on that day the resolutions proposed to give authorities to issue
equity share capital and to disapply pre-emption rights had been withdrawn due
to technical issues concerning the receipt of proxies and letters of
representation that could have affected the outcome of these resolutions, and
that the Board intended to convene a General Meeting of the Company as soon as
practicable to consider similar resolutions.  

The Company announced on 6 October 2017 that it had been provided with a
number of potential non-dilutionary finance options from metal traders and
debt providers, which are anticipated to  replace the potential funding from
strategic investors as previously announced. These opportunities, if realised,
will materially reduce the Company's need to obtain financing either from the
sale of a proportion of the Company's assets in Romania or through the issue
of further equity share capital in the Company.

The negotiations on offtake financing are proceeding well, but whilst awaiting
final due diligence to complete, the Directors anticipate that the Company
will need to issue a small amount of equity share capital to maintain current
operational activity.  This issue is intended to be kept to a minimum. The
share authority limits proposed in the original Annual General Meeting
Resolutions have therefore been significantly reduced.

Being mindful of our previous statement about avoiding dilutionary share
issues, the Directors further intend that in the event that shares are issued
for cash, subject to disapplication of pre-emption rights, then existing
shareholders at that time will, as far as is reasonably possible, be given an
opportunity to participate on the same terms.

Pursuant to this intention, Resolution 1, if passed, will give authority to
the Directors to issue up to 500 million shares and Resolution 3, if passed,
will give authority to the Directors to disapply pre-emption rights in respect
of 250 million out of the said 500 million shares. The Directors do not intend
to utilise this full amount, only what is required to serve the Company's
short-term needs.

A comprehensive update on the Company's progress will be available on the
Company's website prior to the General Meeting.

Resolutions 2 and 4
Resolutions 2 and 4 refresh the authority previously given to issue shares in
connection with the existing Share Appreciation Rights Scheme. 

Recommendation
The Directors believe that the passing of the Resolutions is in the best
interests of the Company and Shareholders, taken as a whole.  The Directors
unanimously recommend the Shareholders to vote in favour of the Resolutions as
they intend to do.

-ENDS-

For further information visit www.vastresourcesplc.com or please contact:

 Vast Resources plc Roy Pitchford (Chief Executive Officer)                     www.vastresourcesplc.com +44 (0) 20 7236 1177   
 Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle   www.beaumontcornish.com                         
                                                                                +44 (0) 020 7628 3396                           
 Brandon Hill Capital Ltd - Joint Broker Jonathan Evans                         www.brandonhillcapital.com +44 (0)20 3463 5016  
 Peterhouse Corporate Finance Ltd - Joint Broker Martin Lampshire Fungai Ndoro  www.pcorpfin.com +44 (0) 20 7469 0930           
 St Brides Partners Ltd Susie Geliher Charlotte Page                            www.stbridespartners.co.uk                      
                                                                                +44 (0) 20 7236 1177                            

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").

**ENDS**

Notes

Vast Resources plc is an AIM listed mining and resource development company
focussed on the rapid advancement of high quality brownfield projects and
recommencing production at previously producing mines.

With this strategy, Vast Resources commissioned two mining operations in 2015;
the Manaila Polymetallic Mine in Romania and the Pickstone-Peerless Gold Mine
in Zimbabwe.

The Company has a broad portfolio of additional exploration and development
projects in Romania and Southern Africa with significant potential for
exploitation in the mid- to long- term.  This includes the Baita Plai
Polymetallic Mine in Romania, where work is currently underway towards
obtaining the relevant permissions to start developing and ultimately
commissioning the mine.
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