Update on Proposed Acquisition & Loan Facilities
Vast Resources plc has announced an extension to the long stop date for its proposed acquisition of Gulf International Minerals Limited, moving it from February 13, 2026, to March 31, 2026. Additionally, loan facilities from A&T Investments SARL and Mercuria Energy Trading SA have been extended to the same date, with repayment planned using revenue from upcoming diamond sales, proceeds from a related placing, and new offtake finance or wider funding arrangements. The company is confident these extensions will support the completion of the proposed transaction.
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Vast Resources plc announces that, further to the proposed Acquisition announced on 22 December 2025, it has entered into an amendment agreement with Bay Square Pacific Ltd to extend the long stop date in respect of the SPA from 13 February 2026 to 31 March 2026 ("Longstop Date Extension").
Loan Facility Update
Further to the announcement of 30 January 2026, Vast confirms that A&T Investments SARL and Mercuria Energy Trading SA have agreed to an extension of their respective terms until 31 March 2026, subject to continued progress being made on the Proposed Transaction. The Company intends to use the revenue from upcoming diamond sales, together with proceeds from the Placing in relation to the Acquisition, and proceeds from new offtake finance agreements and / or wider funding arrangements, to repay the Creditors in full ("Loan Facility Extensions").
Transaction Update
The Company continues to progress the Proposed Transaction, and whilst there can be no guarantee such transaction will complete, the Board is confident that both the Longstop Date Extension and the Loan Facility Extensions will support the Company's efforts to complete the Proposed Transaction as soon as possible.
The Company will provide further updates to the market as and when appropriate.
For further information, please visit the Company's website at www.vastplc.com or contact:
| Vast Resources plc Andrew Prelea (CEO) | +44 (0) 20 7846 0974 |
| Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman / Imogen Ellis | +44 (0) 207 409 3494 |
| Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) | +44 (0) 20 7408 4050 |
| Axis Capital Markets Limited - Joint Broker Richard Hutchinson | +44 (0) 20 3206 0320 |
| St Brides Partners Limited Susie Geliher | http://www.stbridespartners.co.uk/ +44 (0) 20 7236 1177 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.