Vast Resources PLC (LON:VAST) told investors it intends to raise ‘a small amount’ of equity capital to maintain its ongoing operational activity.
The company said in a statement that it has been presented with a number of potential non-dilutionary finance options from metal traders and debt providers.
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“These opportunities, if realised, will materially reduce the company's need to obtain financing either from the sale of a proportion of the company's assets in Romania or through the issue of further equity share capital in the company,” it said.
Negotiations and due-diligence are ongoing.
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“Being mindful of our previous statement about avoiding dilutionary share issues, the directors further intend that in the event that shares are issued for cash, subject to disapplication of pre-emption rights, then existing shareholders at that time will, as far as is reasonably possible, be given an opportunity to participate on the same terms,” the company added.
It also confirmed that it will hold an AGM on November 10.