Director Share Purchase London Stock Exchange:VAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
11 December 2020
Vast Resources plc
(‘Vast’ or the ‘Company’)
Director Share Purchase
Vast Resources plc, the AIM-listed mining company, announces that it was notified that on 10 December 2020 Mr Brian Moritz, Chairman of the Company, purchased 15,000,000 ordinary shares of 0.1 pence each in the share capital of the Company (‘Ordinary Shares’) at a price of 0.1395 pence per Ordinary Share.
Following this purchase, Mr Moritz’s total beneficial ownership in the Company is 25,000,000 Ordinary Shares, which represents approximately 0.14% of the Company’s issued share capital and will represent approximately 0.12% of the Company’s issued share capital following the future allotments announced on 9 December 2020.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the directors’ dealing in the Ordinary Shares.
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
|Vast Resources plc
Andrew Prelea – CEO
+44 (0) 20 7846 0974
|Beaumont Cornish – Financial & Nominated Adviser
+44 (0) 020 7628 3396
|SP Angel Corporate Finance LLP – Joint Broker
+44 (0) 20 3470 0470
|Axis Capital Markets Limited – Joint Broker
+44 (0) 20 3206 0320
|St Brides Partners Limited
+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”).
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania 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 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 was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Vast Resources Plc
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument:
Ordinary shares of £0.001 each
Nature of the transaction:
Purchase of ordinary shares
Price(s) and volume(s):
Date of the transaction:
10 December 2020
Place of the transaction:
AIM, London Stock Exchange