Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
19 July 2023
Vast Resources plc
(‘Vast’ or the ‘Company’)
Institutional Shareholder TR-1 Disclosure
Vast Resources plc, the AIM-listed mining company, is pleased to announce the Company has received the below TR-1 from Barclays Bank which indicates an increased shareholding from an existing Institutional Shareholder.
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00BMD68046
Issuer Name
VAST RESOURCES PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Barclays PLC
City of registered office (if applicable)
London
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
| Name | City of registered office | Country of registered office |
| Barclays Capital Securities Limited | London | United Kingdom |
5. Date on which the threshold was crossed or reached
14-Jul-2023
6. Date on which Issuer notified
18-Jul-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 |
| Resulting situation on the date on which threshold was crossed or reached | 8.040000 | 0.000000 | 8.040000 | 240000033 |
| Position of previous notification (if applicable) | 6.150000 | 0.000000 | 6.150000 |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
| Class/Type of shares ISIN code(if possible) | Number of direct voting rights (DTR5.1) | Number of indirect voting rights (DTR5.2.1) | % of direct voting rights (DTR5.1) | % of indirect voting rights (DTR5.2.1) |
| GB00BMD68046 | 240000033 | 8.040000 | ||
| Sub Total 8.A | 240000033 | 8.040000% | ||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
| Type of financial instrument | Expiration date | Exercise/conversion period | Number of voting rights that may be acquired if the instrument is exercised/converted | % of voting rights |
| Sub Total 8.B1 | ||||
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
| Type of financial instrument | Expiration date | Exercise/conversion period | Physical or cash settlement | Number of voting rights | % of voting rights |
| Sub Total 8.B2 | |||||
9. Information in relation to the person subject to the notification obligation
2. 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 entities (please add additional rows as necessary)
| Ultimate controlling person | Name of controlled undertaking | % 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 |
| Barclays PLC | Barclays Capital Securities Limited | 8.040000 | 8.040000% |
10. In case of proxy voting
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
Barclays PLC
Barclays Bank PLC (100%)
Barclays Capital Securities Limited (100%)
12. Date of Completion
18-Jul-2023
13. Place Of Completion
London
Market Abuse Regulation (MAR) Disclosure
Certain 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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of this announcement.
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc Andrew Prelea (CEO) Andrew Hall (CCO) | www.vastplc.com +44 (0) 20 7846 0974 |
| Beaumont Cornish – Financial & Nominated Advisor Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 20 7628 3396 |
| Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) | www.shorecapmarkets.co.uk +44 (0) 20 7408 4050 |
| Axis Capital Markets Limited – Joint Broker Richard Hutchinson | www.axcap247.com +44 (0) 20 3206 0320 |
| St Brides Partners Limited Susie Geliher | www.stbridespartners.co.uk +44 (0) 20 7236 1177 |
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 a share of revenue generated 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 equivalent over all sales of non-ferrous concentrate and any other metals produced.
In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields.
