Award Of Rights Under The Company’s SARs Scheme

Core Viewpoint - Vast Resources plc has announced the grant of 57,500,000 Share Appreciation Rights (SARs) to employees and consultants as part of its incentive scheme, which aims to motivate personnel while they have deferred remuneration pending the release of the company's historical diamond parcel [2][5][6]. Scheme Overview - The Share Appreciation Rights scheme was established in June 2015 to incentivize directors, management, employees, and consultants [2]. - Each SAR grants the holder the right to either receive an ordinary share or cash equivalent to the difference between the Grant Price and the volume weighted average price of the company's shares on the exercise date [3]. Awards Details - The total number of SARs awarded is 57,500,000, which will expire on March 31, 2028 [5]. - The Grant Price for these SARs has been set at 0.142p, based on the volume weighted average price following the announcement of the historical diamond parcel release, rather than the typical six-month average [6]. Future Incentives - The company is reviewing additional incentives for executive directors and senior personnel, with plans for further SAR awards that will represent approximately 3.7% of the company's currently issued share capital [7]. Company Background - Vast Resources plc is a UK AIM-listed mining company with operations in Romania, Tajikistan, and Zimbabwe [10]. - The company holds a 100% interest in the Baita Plai Polymetallic Mine in Romania, which has a mineral resource of 15,695 tonnes copper equivalent and an exploration target of up to 5.8 million tonnes [11]. - The company is also working to bring the Manaila Polymetallic Mine back into production and has secured an extended exploitation license for further resource examination [12]. - In Tajikistan, Vast has a joint venture for the Takob Mine, which will provide a 12.25% royalty on sales, and is managing the Aprelevka gold mines, aiming to increase production significantly [14][15].