Atlas Special Opportunities LLC – Exercise of Conversion Rights

Source: www.gulfoilandgas.com 4/7/2022, Location: Africa

Vast Resources plc, the AIM-listed mining company, announces that Atlas Special Opportunities LLC has given notice to the Company that it elects to convert Bonds of USD 150,000 nominal value in accordance with the terms of the Bond Issuance Deed announced on 24 October 2019. The Company can confirm that it has satisfied the exercise of the Conversion Rights through the issue of 19,400,315 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.59 pence per Ordinary Share.

Application will be made to the London Stock Exchange for 19,400,315 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 12 April 2022 (‘Admission’). The issued new Ordinary Shares will rank pari passu in all respects with existing Ordinary Shares.

Following Admission of the new Ordinary Shares the issued ordinary share capital of Vast will consist of 366,462,647 Ordinary Shares. There are no Ordinary Shares held in treasury. 366,462,647 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 in their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.


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