Holding(s) in Company

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 which voting rights are attached ii:			VAST RESOURCES PLC
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 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) vii
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 applicable)	6.14%	0		6.14%

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 shares ISIN code (if possible)		Number of voting rights ix					% of voting rights
		Direct (DTR5.1)		Indirect  (DTR5.2.1)			Direct (DTR5.1)		Indirect (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 date x	Exercise/ Conversion Period xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
			SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date x		Exercise/ Conversion Period xi		Physical or cash Settlement xii			Number of voting rights	% of voting rights
					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 the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv				X
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 than the notifiable threshold	Total of both if it equals or is higher 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 Andrew Prelea (CEO) Andrew Hall (CCO)	www.vastplc.com [phone]
Beaumont Cornish - Financial & Nominated Advisor Roland Cornish James Biddle	www.beaumontcornish.com [phone]
Shore Capital Stockbrokers Limited  - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)	www.shorecapmarkets.co.uk  [phone]
Axis Capital Markets Limited - Joint Broker Richard Hutchinson	www.axcap247.com  [phone]
St Brides Partners Limited Susie Geliher	www.stbridespartners.co.uk [phone]

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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