Exercise of Conversion Rights

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

28 October 2016
Vast Resources plc
("Vast" or the "Company")

Exercise of Conversion Rights

Vast Resources plc, the AIM-listed mining company with operations in Romania and Zimbabwe, announces that Bracknor Fund Limited ("Bracknor") has given notice to the Company that it elects to convert a further £200,000 of the one year convertible loan notes issued to it on 11 October 2016 (the "Convertible Loan Notes") into 105,263,158 ordinary shares of 0.1 pence each (the "Conversion Shares") at an exercise price of 0.19 pence per share in accordance with the terms of the Convertible Loan Notes. 

It has been agreed that the $2,000,000 Convertible Loan Notes issued to Bracknor on 11 October 2016 be denominated in Sterling, with the aggregate initial value being £1,608,500. Accordingly, £508,500 of Convertible Loan Notes now remain outstanding.

Application will be made to the London Stock Exchange plc for 105,263,158 Conversion Shares to be admitted to trading on the AIM market with admission expected to occur on or around 3 November 2016 ("Admission").  The Conversion Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the issued ordinary share capital of Vast will consist of 3,812,768,647 Ordinary Shares.  There are no Ordinary Shares held in treasury. 3,812,768,647 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.  

**ENDS**

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

Vast Resources plc Roy Pitchford (Chief Executive Officer)	[phone] - Office Romania  [phone] - Mobile Romania  [phone] - Mobile UK
Strand Hanson Limited - Financial & Nominated Adviser  James Spinney  James Bellman	www.strandhanson.co.uk  [phone]
Brandon Hill Capital Ltd - Joint Broker Jonathan Evans	www.brandonhillcapital.com +44 (0)20 3463 5016
Peterhouse Corporate Finance Ltd - Joint Broker  Duncan Vasey	www.pcorpfin.com  [phone]
St Brides Partners Ltd Susie Geliher Charlotte Page	www.stbridespartners.co.uk  [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").

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Source: Vast Resources plc via Globenewswire