Bezant Res Regulatory News (BZT)

24 May 2019

Bezant Resources Plc

("Bezant" or the "Company")

Result of Annual General Meeting

Bezant (AIM: BZT), the copper-gold exploration and development company, announces that the resolutions proposed at its Annual General Meeting ("AGM") held earlier today, as set out in the notice dated 30 April 2019, were all duly approved by shareholders.

Share Capital Reorganisation

At the AGM, a resolution to approve the reorganisation of the Company's share capital was passed in order to reduce the nominal value of the Company's ordinary shares such that the Company is then able to issue new ordinary shares at a price below £0.02 per ordinary share in the event that the Directors seek to raise additional equity finance at such a price to provide, inter alia, additional working capital for the group. Pursuant to this resolution, every existing ordinary share in the capital of the Company in issue of £0.002 each ("Existing Ordinary Shares") will be re-designated and sub-divided into 1 (one) new ordinary share of £0.00002 each ("New Ordinary Shares") and 1 (one) deferred share of £0.00198 each ("Deferred Shares") with effect from the close of business today. Accordingly, trading in the Company's Existing Ordinary Shares on AIM will cease with effect from the close of business today.

There are currently 998,773,038 Existing Ordinary Shares and application has been made to the London Stock Exchange for 998,773,038 New Ordinary Shares to be admitted to trading on AIM ("Admission"), and Admission is expected to become effective and dealings in the 998,773,038 New Ordinary Shares are expected to commence at 8.00 a.m. on Tuesday 28 May 2019. On Admission, the Company's issued ordinary share capital will consist of 998,773,038 New Ordinary Shares with voting rights. Prior to the Share Capital Reorganisation there were 998,773,038 Existing Ordinary Shares admitted to trading on AIM such that there will have been no change in the number of the Company's shares admitted to trading on AIM as a result of implementation of the share capital reorganisation. Bezant does not hold any ordinary shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

The aforementioned figure of 998,773,038 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, securities of the Company.

Apart from the change in nominal value, the New Ordinary Shares arising on implementation of the capital reorganisation will have the same rights as the Existing Ordinary Shares, including voting, dividend and other rights. Shareholders are therefore advised to retain their existing share certificates which will remain valid. Shareholders who hold their Existing Ordinary Shares in uncertificated form through CREST will have their CREST accounts updated automatically to reflect the change in the nominal value of the ordinary shares.

The Deferred Shares will have no practical economic value as, inter alia, they will not be quoted or traded on AIM, will be non-voting, will carry no right to a dividend and will be subject to eventual redemption by the Company for a nominal amount. No share certificates will be issued in respect of the Deferred Shares nor will CREST accounts of shareholders be credited in respect of any entitlement to Deferred Shares, no application will be made for their admission to trading on AIM and they will not be dealt in on any stock exchange.

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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.