Issue of Equity

RNS Number : 1665F

Bezant Resources PLC

19 April 2011

 



19 April 2011

Bezant Resources plc

("Bezant" or the "Company")

Issue of Equity

Bezant (AIM: BZT), the AIM listed gold and copper exploration and development company operating in the Philippines, Argentina and Tanzania, announces that the Company has yesterday issued a further 4,000,000 new ordinary shares of 0.2 pence each (the "Further Consideration Shares") to Winetime Holdings Limited ("Winetime") pursuant to the terms of the Asset Purchase Agreement relating to the Eureka Project in the Jujuy Province of north-west Argentina announced on 7 December 2010. Winetime has agreed not to dispose of the Further Consideration Shares for a period of six months following their date of admission. Accordingly, Winetime is now interested, in aggregate, in 8,000,000 ordinary shares representing approximately 12.31 per cent. of Bezant's enlarged issued share capital.   

The Further Consideration Shares are fully paid and rank pari passu in all respects with the Company's existing issued ordinary shares and application has been made to the London Stock Exchange for the Further Consideration Shares to be admitted to trading on AIM. Admission is expected to become effective and dealings in the Further Consideration Shares are expected to commence at 8.00 a.m. on Tuesday 26 April 2011. The Company's enlarged issued ordinary share capital will consist of 64,993,603 ordinary shares of 0.2 pence each with voting rights. Bezant does not hold any shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

The aforementioned figure of 64,993,603 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 Services Authority's Disclosure and Transparency Rules.

For further information, please contact:

Gerry Nealon Executive Chairman, Bezant Resources Plc                              Bernard Olivier Technical Director, Bezant Resources Plc                                James Harris / Matthew Chandler / David Altberg Strand Hanson Limited                                                           James Maxwell / Jenny Wyllie Singer Capital Markets Limited                                               Laurence Read / Beth Harris Threadneedle Communications (UK) Email: [e-mail]  or visit http://www.bezantresources.com

Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone]

 

END

 

 

IOEKKLBFFZFLBBD