Last checked at 23 Aug 2018 15:30
23 August 2018
Bezant Resources Plc
("Bezant" or the "Company")
Grant of Share Options
Bezant (AIM: BZT), the copper-gold exploration and development company, announces that, in aggregate, 87,500,000 options over ordinary shares of £0.002 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 87,500,000 Options, 75,000,000 have been awarded to directors of the Company as detailed further below.
Summary of the Options awarded:
Total number of options: | A total of 87,500,000 Options have been awarded. | ||||||||||||||||||||
Exercise prices & award date: | 50,000,000 Options have an exercise price of 0.5 pence per Ordinary Share and vest on 23 August 2018 and the balance of 37,500,000 Options have an exercise price of 1 pence per Ordinary Share and vest on 31 January 2019.
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30 day VWAP when Options approved: | The 30 day volume weighted average share price ("VWAP") to 21 August 2018, being the latest practicable date prior to the approval of the Options by the Company's Remuneration Committee and Board, was 0.38 pence per share.
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Prevailing share price: | The Company's mid-market closing share price on 21 August 2018, being the latest practicable date prior to the approval of the Option awards, was 0.3275 pence.
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Exercise prices versus abovementioned VWAP and prevailing share price:
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Prevailing share price
| 30 day VWAP | ||||||||||||||||||||
Exercise price of 0.5 pence | 52.67% | 31.58% | |||||||||||||||||||
Exercise price of 1.0 pence | 205.34% | 163.16%
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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.
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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 optionholder leaving the Company or within 12 months of the death of an optionholder.
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Options awarded to the Directors (no Directors held any options prior to these awards): |
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For further information, please contact:
Bezant Resources Plc Laurence Read Chief Executive Officer Colin Bird Executive Chairman
Strand Hanson Limited (Nomad) James Harris / Matthew Chandler / James Dance
Novum Securities Limited (Broker) Jon Belliss
or visit http://www.bezantresources.com
| Tel: +44 (0)20 3289 9923
Tel: +44 (0)20 7409 3494
Tel: +44 (0)20 7399 9400
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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 each | ||||||
Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |||||||
b) | Nature of the Transaction | Award of options | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume | N/A (Single transaction) | ||||||
e) | Date of the transaction | 23 August 2018 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Laurence Read | ||||||
2. | Reason for the Notification | |||||||
a) | Position/status | CEO & 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 each | ||||||
Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |||||||
b) | Nature of the Transaction | Award of options | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume | N/A (Single transaction) | ||||||
e) | Date of the transaction | 23 August 2018 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||
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 each | ||||||
Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |||||||
b) | Nature of the Transaction | Award of options | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume | N/A (Single transaction) | ||||||
e) | Date of the transaction | 23 August 2018 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||
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 each | ||||||
Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |||||||
b) | Nature of the Transaction | Award of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information Aggregated volume | N/A (Single transaction) | ||||||
e) | Date of the transaction | 23 August 2018 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||||