Bezant Res Regulatory News (BZT)

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 £80,000 and fees of £50,000 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:

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 £20,000.

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.

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