IN BRIEF: Vast Resources set for AIM return after reverse takeover
Vast Resources PLC - acquiring 49% stake in joint venture with government of Tajikistan that owns four gold mines, a processing plant, and two tailings deposits in northern Tajikistan - Completes a retail share offer in preparation for readmission to the AIM market in London follow a reverse takeover. Vast shares are expected to resume trading on AIM on August 19 under a new ISIN number. The company is set to have a market capitalisation of £102.9 million, based on 1.65 billion shares in issue and the price for the company's placing, subscription and retail offer of 6.25 pence. Vast raises £7.8 million gross in total as part of the readmission, including £300,000 from the retail offer. It is buying Gulf International Minerals Ltd, which holds a 49% interest in Joint Tajik-Canadian Limited Liability Co, known as Aprelevka. The JV recorded USD8.5 million in pretax profit on USD36.9 million in revenue in 2025.
"I recognise that our shareholders have shown remarkable patience and commitment through what has been a challenging period for this company," comments Chief Executive Officer Andrew Prelea. "This transaction is the culmination of years of strategic groundwork across Vast's portfolio in multiple jurisdictions, work that ultimately positioned the company to secure this opportunity in Tajikistan."
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