Information  X 
Enter a valid email address

Bezant Resources PLC (BZT)

  Print          Annual reports

Tuesday 10 November, 2020

Bezant Resources PLC

Issue of Options

RNS Number : 8720E
Bezant Resources PLC
10 November 2020
 

10 November 2020

Bezant Resources Plc

  ("Bezant" or the "Company") 

Issue of Options

 

Bezant (AIM: BZT), the copper-gold exploration and development company, announces that, in aggregate, 220 million options over ordinary shares of 0.002 pence each in the capital of the Company ("Ordinary Shares") have today been granted pursuant to the Executive Share Option Scheme approved at the Company's Annual General Meeting ("AGM") held on 22 June 2018 (the "Options"). Of the 220,000,000 Options, 158,000,000 have been awarded to directors of the Company, 30,000,000 to a non-director PDMR as detailed further below and the balance of 32,000,000 to other eligible participants.

 

Summary of the Options awarded :

 

Total number of options:

A total of 220,000,000 Options have been awarded.

Exercise prices & award date:

110,000,000 Options have an exercise price of 0.425 pence per Ordinary Share and vest on 9 November 2020 and the balance of 110,000,000 Options have an exercise price of 0.565 pence per Ordinary Share and vest on the earlier of i) 31 March 2021 or ii) an offer for a change of control of the Company.

 

Purpose of options:

 

To Incentivise and retain directors, officers, consultants and employees critical to enhancing the future market value of the Company and note the significant premium of the respective exercise prices relative to the share price and 30 day VWAP.

 

30 day VWAP when Options approved:

The 30 day volume weighted average share price ("VWAP") to 5 November 2020, being the latest practicable date prior to the approval of the Options by the Company's Remuneration Committee and Board, was 0.281 pence per share.

 

Prevailing share price:

The Company's mid-market closing share price on 5 November 2018, being the latest practicable date prior to the approval of the Option awards, was 0.28 pence.

 

Exercise prices versus abovementioned VWAP and prevailing share price:

 


Premium to:

 


Prevailing

share price

 

30 day

VWAP

 

Exercise price of 0.425 pence

52%

51%

 

Exercise price of 0.565 pence

 

102%

101%

 

 

Life of Options:

The options expire on 21 June 2028 being the date one day prior to the tenth anniversary of the passing of the resolution at the Company's AGM held on 22 June 2018 to approve the Executive Share Option Scheme.

 

Exercise period:

The Options can be exercised any time after vesting and prior to their scheduled expiry and must be exercised within 6 months of an option holder leaving the Company or within 12 months of the death of an option holder.

 

 

 

 

Options awarded to the Directors (No. of options in millions)


Exercise price & vesting date

Director

0.425 pence (vesting on 9 Nov 2020)

 

0.565 pence (vesting on 31 March 2021)

 


Options in millions

Colin Bird

24

24

Raju Samtani

20

20

Edward Patrick Slowey

20

20

Dr. Evan Kirby

10

10

Ronnie Siapno

5

5

Total Directors

79

79

 

Options awarded to PDMRs (No. of options in millions)

 


Exercise price & vesting date

Person

0.425 pence (vesting on 9 Nov 2020)

 

0.565 pence (vesting on 31 March 2021)

 


Options in millions

Michael Allardice

(awarded to Quantum Capital and Consulting Ltd)

 

15

15

Total other PDMRs

15

15



 

Following the vesting of the above options the Company will have 307,500,000 options in issue and the directors will hold the following options over Ordinary Shares all of which expire 21 June 2028

 

Options in millions

Exercise Price


Director

0.425 pence

0.565 pence

0.500

pence

1.000

pence

Total No. of Options

Colin Bird

24.0

24.0

15.0

12.5

75.5

Raju Samtani

20.0

20.0

-

-

40.0

Edward Patrick Slowey

20.0

20.0

-

-

40.0

Dr. Evan Kirby

10.0

10.0

5.0

2.5

27.5

Ronnie Siapno

5.0

5.0

7.5

5.0

22.5


79.0

79.0

27.5

20.0

205.5

 

 

 

For further information, please contact :

 

Bezant Resources Plc
Colin Bird

Executive Chairman

 

+27 726 118 724

 

 

Beaumont Cornish (Nominated Adviser) 
Roland Cornish

 


+44 (0) 020 7628 3396

Novum Securities Limited (Broker)

Jon Belliss

 

+44 (0) 20 7399 9400

 

or visit http://www.bezantresources.com  

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

24,000,000

0.565p

24,000,000

d)

Aggregated information

Aggregated volume

A total of 48,000,000 options

e)

Date of the transaction

2020/11/09

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Raju Samtani

2.

Reason for the Notification

a)

Position/status

Finance 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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

20,000,000

0.565p

20,000,000

d)

Aggregated information

Aggregated volume

A total of 40,000,000 options

e)

Date of the transaction

2020/11/09

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Edward Patrick Slowey

2.

Reason for the Notification

a)

Position/status

Technical 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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

20,000,000

0.565p

20,000,000

d)

Aggregated information

Aggregated volume

A total of 40,000,000 options

e)

Date of the transaction

2020/11/09

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Dr. Evan Kirby

2.

Reason for the Notification

a)

Position/status

Non-Executive 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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

10,000,000

0.565p

10,000,000

d)

Aggregated information

Aggregated volume

A total of 20,000,000 options

e)

Date of the transaction

 2020/11/09

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ronnie Siapno

2.

Reason for the Notification

a)

Position/status

Non-Executive 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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

5,000,000

0.565p

5,000,000

d)

Aggregated information

Aggregated volume

A total of 10,000,000 options

e)

Date of the transaction

2020/11/09

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 instrument, type of instrument

Options over ordinary shares of 0.002 pence each

Identification code

ISIN: GB00B1CKQD97

TIDM: AIM:BZT

b)

Nature of the Transaction

Award of options

c)

Price(s) and volume(s)

Exercise Price(s)

No. of options

0.425p

15,000,000

0.565p

15,000,000

d)

Aggregated information

Aggregated volume

A total of 30,000,000 options

e)

Date of the transaction

2020/11/09

f)

Place of the transaction

Outside a trading venue

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHBXBDBXSBDGGG

a d v e r t i s e m e n t