REG - Vast Resources PLC - Statement re Press Article

Vast ResourcesAnnouncement

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RNS Number : 8708W  Vast Resources PLC  17 March 2026

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

 

17 March 2026

Vast Resources plc

("Vast" or the "Company")

 

Statement re Press Article

 

Vast Resources plc, the AIM quoted mining company, notes that following the
dispute with the unions and certain remaining members of the Vast Baita Plai
SA ("VBPSA") workforce in Romania, as referenced in the RNS of 10 June 2024,
an article was published yesterday in local Romanian press at the instigation
of a group of VBPSA employees who have been recently served notice as a part
of the VBPSA reorganisation plan (the "Reorganisation"), stating that such
employees intend to conduct a protest due to their assertion the VBPSA has not
followed due process in respect of the Reorganisation.

 

The Board strongly disputes this claim and believes it has followed due
process and taken appropriate advice in Romania throughout the Reorganisation
process. The Reorganisation gives VBPSA the right to dismiss, without
significant cost, those employees who have been abusing the system,
particularly in respect of taking of medical leave, and provides the
possibility to re-employ those employees whom VBPSA wishes to retain on new
contracts and terms. Those employees who were demanding a reduction in working
hours of about 25% and an increase in paid leave to almost twice that required
under National regulations are those who have been dismissed, and in the
Board's view are, accordingly, seeking to create a negative narrative in the
media with respect to VBPSA as they have been advised they will not be
re-employed. For the avoidance of doubt, the Board does not believe the
article nor the statements therein have any material impact on the Company and
maintain the position that the Reorganisation is in the best interests of
VBPSA, and Company, and all Vast shareholders.

 

**ENDS**

 

For further information, please visit the Company's website
at www.vastplc.com (http://www.vastplc.com/)  or contact:

 Vast Resources plc                                         +44 (0) 20 7846 0974

 Andrew Prelea (CEO)

 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494

 James Spinney / James Bellman / Imogen Ellis

 Shore Capital Stockbrokers Limited - Joint Broker          +44 (0) 20 7408 4050

 Toby Gibbs / James Thomas (Corporate Advisory)

 Axis Capital Markets Limited - Joint Broker                +44 (0) 20 3206 0320

 St Brides Partners Limited                                 vast@stbridespartners.co.uk

 Susie Geliher / Charlotte Page                             +44 (0) 20 7236 1177

 

 

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