Bezant Resources PLC Regulatory News (BZT)

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)

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

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

Bezant Resources PlcColin 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

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)

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)

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)

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)

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)

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)

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