TIDMBZT
RNS Number : 6370X
Bezant Resources PLC
06 January 2022
6 January 2022
Bezant Resources Plc
("Bezant" or the "Company")
Director's dealing and issue of shares
Bezant (AIM: BZT), the AIM quoted copper-gold exploration and
development company, further to its announcement on 9 December 2021
in relation to the General Meeting ("GM") held on Wednesday 29
December 2021 and its announcement on 29 December 2021 that all
resolutions at the GM were passed announces that as approved by
shareholders at the GM it intends to settle outstanding
remuneration is owed to a director of the Company, Colin Bird,
amounting to GBP80,000 and fees of GBP50,000 owed to Quantum
Capital & Consulting Limited, a personal service company of
Michael Allardice who is a person discharging managerial
responsibilities on behalf of the Company (collectively, the
"Accrued Fees") by the issue 100,000,000 ordinary shares of 0.002p
each ("Ordinary Shares") (the "Accrued Fee Shares") and 50,000,000
warrants over Ordinary Shares exercisable at 0.25 pence per
Ordinary Share valid until 4 November 2024 ("Accrued Fee Warrants")
in accordance with the table below:
Period of Accrued Accrued
Person Accrued Fees Accrued Fees Fee Shares Fee Warrants
-------------------------- ---------------- ------------- ------------ -------------
Colin Bird Aug 19 - Sep 21 GBP80,000 61,538,462 30,769,231
-------------------------- ---------------- ------------- ------------ -------------
Quantum Capital and
Consulting Ltd (Michael Dec 19 - June
Allardice) 20 GBP50,000 38,461,538 19,230,769
-------------------------- ---------------- ------------- ------------ -------------
As approved by shareholders at the GM the Accrued Fees are being
settled in order to preserve the Company's cash resources and the
Accrued Fees be satisfied by the issue of new Ordinary Shares upon
the same terms as the Placing announced on 21 October 2021.
Accordingly, the Accrued Fees will be satisfied by the issue of
Ordinary Shares at a price of 0.13 pence per Ordinary Shares (being
the price at which Ordinary Shares were issued at the Placing) and
Warrants equivalent to one half of the number of Ordinary Shares to
be issued exercisable at a price of 0.25p per Ordinary Shares. The
Company's closing share price on 5 January 2022 the last practical
date prior to the issue of this announcement was 0.14 pence per
Ordinary Share (the "Current Share Price").
In addition, the Company is today issuing a further an
additional 14,285,714 new Ordinary Shares (the "Professional Fee
Shares") at the Current Share Price to settle professional fees of
GBP20,000.
Director's update shareholding: After the issue of 61,538,462
Accrued Fee Shares Colin Bird will own 153,125,655 Ordinary Shares
which will represent 3.05% of the enlarged share capital after the
issue of the Accrued Fee Shares and the Professional Fee
Shares.
Application to trading on AIM : Application will be made to the
London Stock Exchange for the Accrued Fee Shares and Professional
Fee Shares, (in total 114,285,714 new Ordinary Shares) which when
issued will rank pari passu with the existing Ordinary Shares in
issue to be admitted to trading on AIM. It is expected that
Admission will become effective and that dealings in the New
Ordinary Shares will commence at 8.00 a.m. on or around 12 January
2022.
Issued Share Capital : Following the issue of the New Ordinary
Shares, the Company's total issued share capital will consist of
5,027,314,252 Ordinary Shares with voting rights. The Company does
not hold any Ordinary Shares in treasury and accordingly there are
no voting rights in respect of any treasury shares.
Total Voting Rights On Admission, the above mentioned figure of
5,027,314,252 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, Bezant under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact :
Bezant Resources plc
Colin Bird
Executive Chairman
Beaumont Cornish (Nominated Adviser) +44 (0) 20 3416 3695
Roland Cornish
Novum Securities Limited (Broker) +44 (0) 20 7628 3396
Jon Belliss
or visit http://www.bezantresources.com +44 (0) 20 7399 9400
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 as it forms part
of UK Domestic Law by virtue of the European Union (Withdrawal)
Act 2018 ("UK MAR").
PDMR Notification Forms :
The notifications below are made in accordance with the requirements
of MAR.
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Colin Bird
--------------------------------------------------------------- ---------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------------------------------------
a) Position/status Executive Chairman & Director
--------------------------------------------------------------- ---------------------------------------
b) Initial notification/amendment Initial notification
--------------------------------------------------------------- ---------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------------------------
a) Name Bezant Resources PLC
--------------------------------------------------------------- ---------------------------------------
b) LEI 2138008K9GRXDUVYVK15
--------------------------------------------------------------- ---------------------------------------
4. Details of the transaction(s):section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
--------------------------------------------------------------------------------------------------------
a) Description of the Financial ordinary shares of 0.002 pence each
instrument, type of instrument
--------------------------------------------------------------- ---------------------------------------
Identification code ISIN: GB00B1CKQD97
TIDM: AIM:BZT
--------------------------------------------------------------- ------------------------------------------------
b) Nature of the Transaction Issue of shares & warrants to settle
accrued fees of GBP80,000
--------------------------------------------------------------- ---------------------------------------
c) Price(s) and volume(s) Exercise Price(s) No. of warrants
0.25p 30,769,231
----------------
Issue of 61,538,462 shares at 0.13
p per share
--------------------------------------------------------------- ---------------------------------------
d) Aggregated information Issue of 61,538,462 and 30,769,231
Aggregated volume warrants
--------------------------------------------------------------- ---------------------------------------
e) Date of the transaction 2022/01/06
--------------------------------------------------------------- ---------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------------------------------- ---------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Graham Allardice / Quantum
Capital and Consulting Limited
-------------------------------- ------------------------------------------
2. Reason for the Notification
----------------------------------------------------------------------------
a) Position/status Group Company Secretary / Consulting
company of Michael Graham Allardice
-------------------------------- ------------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
a) Name Bezant Resources PLC
-------------------------------- ------------------------------------------
b) LEI 2138008K9GRXDUVYVK15
-------------------------------- ------------------------------------------
4. Details of the transaction(s):section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
----------------------------------------------------------------------------
a) Description of the Financial ordinary shares of 0.002 pence each
instrument, type of instrument
-------------------------------- ------------------------------------------
Identification code ISIN: GB00B1CKQD97
TIDM: AIM:BZT
-------------------------------- ------------------------------------------
b) Nature of the Transaction Issue of shares & warrants to settle
accrued fees of GBP50,000
-------------------------------- ------------------------------------------
c) Price(s) and volume(s) Exercise Price(s) No. of warrants
0.25p 19,230,769
----------------
The issue of 38,461,538 shares at
0.13 p per share
-------------------------------- ------------------------------------------
d) Aggregated information Issue of 38,461,538 shares and 19,230,769
Aggregated volume warrants
-------------------------------- ------------------------------------------
e) Date of the transaction 2022/01/06
-------------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------- ------------------------------------------
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END
DSHVQLBBLFLEBBF
(END) Dow Jones Newswires
January 06, 2022 03:59 ET (08:59 GMT)
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