Placing

RNS Number : 7146E

Bezant Resources PLC

24 December 2009

 



Bezant Resources Plc

("Bezant" or the "Company")

Placing

Bezant (AIM: BZT), the AIM listed gold and copper exploration and development company operating in the Philippines and Tanzania, announces that the Company has conditionally placed a total of 7,832,445 new ordinary shares (the "Shares") in the capital of the Company at a placing price of 23 pence per share (the "Placing") with Cubana Investments Limited ("Cubana") to raise up to £1,801,462.35, gross of expenses. Following the Placing, Cubana will hold approximately 16.67 per cent. of the enlarged issued share capital of the Company.

Cubana is a private investment vehicle whose primary activities are based out of Hong Kong and Singapore, with the Company having both significant and substantial holdings in other AIM quoted companies.

The Shares will rank pari passu with all existing ordinary shares in the capital of the Company, and application will be made for the Shares to be admitted to trading on AIM ("Admission"). Admission is expected to commence on 7 January 2010, when the enlarged issued share capital of the Company will total 46,994,668 shares. 

The Company intends to use the net proceeds from the Placing to provide additional working capital. 

Following the Placing, the above figure of 46,994,668 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 Service Authority's Disclosure and Transparency Rules. The Company does not hold any shares in treasury. 

For further information, please contact:

Gerry Nealon

Executive Chairman, Bezant Resources Plc

Tel: [phone]

James Harris / Matthew Chandler

Strand Hanson Limited

Tel: [phone]

Laurence Read / Beth Harris

Threadneedle Communications (UK)

Email: [e-mail]

Tel: [phone]

Mob: [phone]

or visit www.bezantresources.com

 

END

 

 

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