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Vast Resources PLC announced a TR-1 Disclosure on 13 November 2023 from Capstone Investment Advisors, LLC regarding a change in major holdings. On 08 November 2023, Capstone's total voting rights in Vast Resources PLC decreased from 6.14% to 4.14%, representing 180,000,000 voting rights. The company additionally confirmed Capstone's position has since been reduced to nil.
| Date | 13 Nov 2023 |
| Time | 08:00:05 |
| Category | Holding(s) in company |
| ID | 2355T |
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
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: |
VAST RESOURCES PLC |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
X |
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An event changing the breakdown of voting rights |
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Other (please specify) iii: |
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3. Details of person subject to the notification obligation iv |
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Name |
Capstone Investment Advisors, LLC |
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City and country of registered office (if applicable) |
New York City, USA |
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4. Full name of shareholder(s) (if different from 3.) v |
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Name |
Barclays Bank PLC |
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City and country of registered office (if applicable) |
London, UK |
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5. Date on which the threshold was crossed or reached vi: |
08/11/2023 |
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6. Date on which issuer notified (DD/MM/YYYY): |
10/11/2023 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer (8.A + 8.B) vii |
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Resulting situation on the date on which threshold was crossed or reached |
4.14% |
0 |
4.14% |
180,000,000 |
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Position of previous notification (if applicable) |
6.14% |
0 |
6.14% |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
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Direct (DTR5.1) |
Indirect (DTR5.2.1) |
Direct (DTR5.1) |
Indirect (DTR5.2.1) |
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GB00BMD68046 |
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180,000,000 |
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4.14% |
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SUBTOTAL 8. A |
180,000,000 |
4.14% |
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B 1: Financial Instruments according to DTR5.3.1R (1) (a) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash Settlement xii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
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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 |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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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 |
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Paul Britton |
4.14% |
0% |
4.14% |
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Capstone Investment Advisors, LLC |
4.14% |
0% |
4.14% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional information xvi |
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Place of completion |
London, UK |
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Date of completion |
10/11/2023 |
For further information, visit www.vastplc.com or please contact:
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Vast Resources plc Andrew Hall (CCO)
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www.vastplc.com |
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Beaumont Cornish - Financial & Nominated Advisor Roland Cornish James Biddle
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+44 (0) 20 7628 3396 |
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Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)
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www.shorecapmarkets.co.uk |
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Axis Capital Markets Limited - Joint Broker
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www.axcap247.com |
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St Brides Partners Limited Susie Geliher |
+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 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.