Placing and Subscription

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

27 July 2015

Vast Resources plc
("Vast" or "the Company")
Placing and subscription of 105,416,662 Ordinary Shares
at a price of 1.2pence per share

Vast Resources plc, the AIM listed resource and development company, is pleased to announce that it has raised approximately £1.26 million (approximately $1.96  million) before costs through a placing (the "Placing") of 45,416,662 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Placing Shares") and a subscription (the "Subscription") of 60,000,000 Ordinary Shares (the "Subscription Shares") both at a price of 1.2 pence per Ordinary Share.  The Placing was conducted by Daniel Stewart & Company plc. 

The purpose of the Placing and the Subscription is to provide additional funds to further the Company's opportunities in Romania and also for general corporate purposes.

Admission and Dealings
The issue of the Placing Shares and the Subscription Shares is, inter alia,  conditional on their Admission to trading on AIM ("Admission").  It is expected that Admission will become effective and dealing in the Placing Shares and the Subscription Shares will commence on 10 August 2015.  The Placing Shares and the Subscription Shares will rank pari passu with existing Ordinary Shares.

Following Admission, the total issued share capital of the Company will be 1,464,063,989 Ordinary Shares.  The Placing Shares and Subscription Shares together will represent 7.20 per cent of the enlarged share capital of the Company.

The above figure of 1,464,063,989 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in VAST under the FCA's Disclosure and Transparency Rule.

Roy Pitchford, Chief Executive Officer, commented:
"We are grateful for the continued investor support which enables us to continue with the improvements at the Manaila Polymetallic Mine which mine we are now managing and operating, and also provides us with a good foundation to re-open the Baita Bihor Polymetallic Mine as soon as the licence formalities have been completed."

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

Vast Resources plc Roy Tucker (Finance Director)	+44 (0) 1622 816918  [phone]
Roy Pitchford (Chief Executive Officer)	+263 (0) 7721 69833  [phone]   [phone]
Strand Hanson Limited - Financial & Nominated Adviser  James Spinney  Ritchie Balmer  James Bellman	www.strandhanson.co.uk  [phone]
Daniel Stewart and Company plc - Joint Broker  Martin Lampshire David Coffman	www.danielstewart.co.uk  [phone]
Dowgate Capital Stockbrokers Ltd - Joint Broker Jason Robertson Neil Badger	www.dowgatecapitalstockbrokers.co.uk [phone]
St Brides Partners Ltd Charlotte Heap Hugo de Salis	www.stbridespartners.co.uk  [phone]

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire

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