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Vast Resources PLC - London-based miner with projects in Romania and Zimbabwe - On Wednesday says it is seeking legal advice regarding the issued conversion notice for $800,000 by Atlas Special Opportunities LLC. The $800,000 was part of the repayment to Atlas instructed as of Friday last week, but for which a SWIFT confirmation was only received on Monday.
On Monday, Vast said it repaid all its outstanding bond debt to Atlas. However, Atlas says this $800,000 conversion notice is valid.
‘Accordingly, the company is taking legal advice in relation to the circumstances of the Notice and will report again to the market as soon as is possible. In the meantime, the Company has taken no action in relation to the Notice including not making application for any shares in relation thereto to be admitted to trading on AIM,’ it says.
Current stock price: 0.94p, down 4.3% on Thursday
12-month change: down 88%
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