Vast Resources raises £300K in oversubscribed retail offer
What's the deal? Vast ResourcesDealroom has a profile for this one. Try Dealroom →, the AIM-quoted mining company, has conditionally raised £300,000 through an oversubscribed retail offer. It issued 4,800,000 new ordinary shares at 6.25p each via BookBuildDealroom has a profile for this one. Try Dealroom →.
Why now? The retail offer runs alongside a separate placing of new shares at the same issue price. Together they follow the company's admission document, published on 31 July 2026.
What's the endgame? Admission of the shares to AIM depends on shareholder approval of the proposed transaction at an upcoming general meeting. Trading is expected to begin on 19 August 2026.
Once admitted, Vast will have 1,645,941,556 ordinary shares in issue. A concert party of several key individuals will hold roughly 80.23% of the enlarged share capital after the proposals complete.
Because the offer was oversubscribed, Vast allocated shares under soft pre-emption principles. Where demand topped shareholders' entitlement, allocations were made on a pro-rata basis.
The signal: A small, oversubscribed raise from existing shareholders points to continued retail appetite for the miner, even as the round hinges on a shareholder vote to complete.
Read more: Investegate
Image credit: Community Archives of Belleville & Hastings County
