REG - Vast Resources PLC - Holding(s) in Company

Vast ResourcesAnnouncement

13/11/2023 08:00

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RNS Number : 2355T  Vast Resources PLC  13 November 2023

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

 

13 November 2023

Vast Resources plc

('Vast' or the 'Company')

 

TR-1 Disclosure

 

Vast Resources plc, the AIM-listed mining company, announces a TR-1 Disclosure
detailed below.  The disclosure provided is as of when the 5% threshold was
crossed. The Company has received confirmation that the position has been
reduced to nil but that there is no additional regulatory obligation for this
investor to report any further change in their holdings as their minimum
reporting hurdle is 5%.

 

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                                                                                    VAST RESOURCES PLC
 which voting rights are attached (ii):
 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                                                                                                                                                                                                       X
 An event changing the breakdown of voting rights
 Other (please specify) (iii):
 3. Details of person subject to the notification obligation (iv)
 Name                                                                                                                                                         Capstone Investment Advisors, LLC
 City and country of registered office (if applicable)                                                                                                        New York City, USA
 4. Full name of shareholder(s) (if different from 3.) (v)
 Name                                                                                                                                                         Barclays Bank PLC
 City and country of registered office (if applicable)                                                                                                        London, UK
 5. Date on which the threshold was crossed or reached (vi):                                                                                                  08/11/2023
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                               10/11/2023
 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 both in % (8.A + 8.B)  Total number of voting rights held in issuer (8.A + 8.B) (vii)

(total of 8.B 1 + 8.B 2)
 Resulting situation on the date on which threshold was crossed or reached  4.14%                                                  0                                                     4.14%                           180,000,000
 Position of previous notification (if                                      6.14%                                                  0                                                     6.14%

 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                                  Number of voting rights (ix)                                              % of voting rights

shares

 ISIN code (if possible)
                                                Direct                    Indirect                                        Direct                                           Indirect

                                                (DTR5.1)                   (DTR5.2.1)                                     (DTR5.1)                                         (DTR5.2.1)
 GB00BMD68046                                                             180,000,000                                                                                      4.14%

 SUBTOTAL 8. A                                  180,000,000                                                               4.14%

 B 1: Financial Instruments according to DTR5.3.1R (1) (a)
 Type of financial instrument                   Expiration  Exercise/                             Number of voting rights that may be acquired if the instrument is        % of voting rights

date (x)
Conversion Period (xi)

                                                                                                  exercised/converted.

                                                            SUBTOTAL 8. B 1

 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
 (1) (b)
 Type of financial instrument  Expiration                   Exercise/                   Physical or cash                                          Number of voting rights  % of voting rights

date (x)
Conversion Period (xi)

                                                                                        Settlement (xii)

                                                                                        SUBTOTAL 8.B.2

 

 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                                                                                                                                                    X
 the

financial instruments are effectively held starting with the ultimate
 controlling natural person or legal entity (please add additional rows as
 necessary) (xiv)
 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  Total of both if it equals or is higher than the notifiable threshold
                                                                                                                than the notifiable threshold
 Paul Britton                       4.14%                                                                       0%                                                                          4.14%
 Capstone Investment Advisors, LLC  4.14%                                                                       0%                                                                          4.14%

 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)

 

 Place of completion  London, UK
 Date of completion       10/11/2023

 

 

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

 

 Vast Resources plc                                    www.vastplc.com

Andrew Prelea (CEO)                                  +44 (0) 20 7846 0974

 Andrew Hall (CCO)

 Beaumont Cornish - Financial & Nominated Advisor      www.beaumontcornish.com (http://www.beaumontcornish.com)

 Roland Cornish                                        +44 (0) 20 7628 3396

 James Biddle

 Shore Capital Stockbrokers Limited  - Joint Broker    www.shorecapmarkets.co.uk

                                                      +44 (0) 20 7408 4050
 Toby Gibbs / James Thomas (Corporate Advisory)

 Axis Capital Markets Limited - Joint Broker           www.axcap247.com
 Richard Hutchinson                                     +44 (0) 20 3206 0320

 St Brides Partners Limited                            www.stbridespartners.co.uk (http://www.stbridespartners.co.uk)

 Susie Geliher                                         +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 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. Processing of stockpiled ore on site is
expected to commence in mid-2022.

 

 

 

 

 

 

 

 

 

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