Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
3 October 2016
Vast Resources plc
("Vast" or the "Company")
Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to announce the appointment of Brian Moritz as a non-executive director of the Company. As a pre-eminent figure in the AIM resource space, Mr Moritz has proven success in building profitable mining companies which will be of value to Vast as the Company focusses on increasing production across its mining operations in Romania and Zimbabwe.
Brian Moritz is a Chartered Accountant and former Senior Partner of Grant Thornton UK LLP, London; he formed Grant Thornton's Capital Markets Team which floated over 100 companies on AIM under his chairmanship. In December 2004, he retired from Grant Thornton UK LLP to concentrate on bringing new companies to the market. He specialises in natural resources companies, primarily in Africa, and was formerly chairman of Metal Bulletin plc, African Platinum plc and Chromex Mining plc as well as currently being chairman of several junior mining companies.
Further to the Company's announcement of 19 August 2016, Graham Briggs has stepped down as a non-executive director of the Company with immediate effect and assumes the position of overseeing operations in Zimbabwe.
Roy Pitchford, Chief Executive of Vast, commented:
"I am delighted that Brian has agreed to join our board - he has had an exceptional career in the junior resource industry and has multiple success stories under his belt. Brian and I have worked together on several occasions in the past and I have always been impressed by his drive, insight and commercial acumen. I look forward to drawing on these skills over the coming months as we look to increase operational efficiency, production and financial performance, and ensure this is communicated effectively to the market."
The following information is required to be disclosed pursuant to Schedule Two, paragraph (g) and Rule 17 of the AIM Rules for Companies.
Brian Michael Moritz, aged 80
|Current Directorships||Past Directorships (with in the last 5 years)|
|Capricorn Resources Plc||Chapter Two Limited|
|Keras Resources PLC||Chariot Oil & Gas Statistics Ltd|
|Ferrex Iron Ltd||China Gateway International Ltd|
|Goldplat Plc||Chromex Mining Ltd|
|Ferrex Manganese Ltd||Dimension Resources Ltd (Bermuda)|
|Gold Mineral Resources Ltd (Guernsey)||Coveham Services Ltd|
|Gold Recovery Ghana Limited (Ghana)||European Metals (UK) Ltd|
|Kilimapesa Gold Ltd (Kenya)||European Metals (2014) Ltd|
|Legal Eagle UK Ltd||Goldplat Recovery (Pty) Ltd (South Africa)|
|Madini Resources Ltd (BVI)||Lion Mining Company Ltd|
|Anglo African Oil & Gas PLC||Lunga Resources Ltd|
|Paladin Oil & Gas Holdings PLC||Makuba Resources Ltd (Guernsey)|
|Paladin Oil & Gas Ltd||Namquest Oil & Gas PLC|
|Paladin Oil &Gas Inc (Texas, USA)||Palandri Limited (Australia)|
|Evolution Energy E&P PLC||Agriterra Ltd (Guernsey)|
|International Copper Resources Ltd (Guernsey)||Running River PLC|
|MSP Secretaries Ltd|
|Southern Chrome Ltd|
|Sula Iron & Gold PLC|
|The Shell Centre LLP|
|International Copper Resources Ltd (formerly Angolan Minerals Plc)|
On 2 December 2008, Brian Moritz resigned as a director of European Business Jets plc. European Business Jets plc was placed in liquidation and a winding up order made against it on 11 February 2009.
Brian Moritz resigned as a non-executive director of Navigator Holdings plc on 3 July 2007. In October 2007, Navigation Holdings plc was put into compulsory liquidation, with a deficit on external creditors of approximately £280,000.
In 1994, Cape & Dalgleish, a firm in which Brian Moritz was a partner, and which has subsequently merged with Grant Thornton, was reprimanded by the Institute of Chartered Accountants in England and Wales, and ordered to pay a fine of £1,000, equivalent to £83 per partner, and costs of £500. This arose out of breaches of an Institute bye-law occurring in 1991 and 1992 which did not give rise to any loss by any third party. Although Brian Moritz was not personally involved in this matter in any capacity he was nevertheless reprimanded in his capacity as a partner.
For further information, please visit www.vastresourcesplc.com or contact:
| Roy Pitchford (Chief Executive Officer)|| +40 (0) 372 988 988 (O)|
+40 (0) 741 111 900 (M)
+44 (0) 7793 909985 (M)
Strand Hanson Limited - Financial & Nominated Adviser
+44 (0) 20 7409 3494
Brandon Hill Capital Ltd - Joint Broker
+44 (0)20 3463 5016
Peterhouse Corporate Finance Ltd - Joint Broker
+44 (0) 20 7469 0936
St Brides Partners Ltd
+44 (0) 20 7236 1177
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire