Bezant Res Regulatory News (BZT)

19 April 2013

Bezant Resources Plc

("Bezant" or the "Company")

Update re: Proposed Capital Reduction and Return of Capital

Notice of New General Meeting and Revised Timetable

Bezant (AIM: BZT), the AIM listed gold and copper exploration and development company operating in the Philippines and Argentina, announces that the General Meeting convened on 9 April 2013 has subsequently been discovered to be inquorate, due to there being too few shareholders eligible to vote in attendance, and therefore the meeting was void. Accordingly, the Company is today posting a further circular (the "New Circular"), incorporating formal notice of a new general meeting, to seek the approval of Shareholders for, inter alia, the proposed cancellation of the Company's two classes of deferred shares and part of its share premium account and the proposed return of capital of, in aggregate, approximately £5.2m (8p per ordinary share) to shareholders, other than Gold Fields Netherlands Services B.V. ("Gold Fields").

The new general meeting which is required to be convened is to be held at 10.00 a.m. on Tuesday 7 May 2013 at the offices of Joelson Wilson LLP, 30 Portland Place, London WIB 1LZ. Accordingly, the New Circular and formal notice of the New General Meeting is today being posted, together with a form of proxy, to those shareholders who have elected to receive hard copy shareholder communications from the Company and will today also be made available to download from the Company's website at www.bezantresources.com.

The background and explanatory information included in the circular to the Company's shareholders dated 18 March 2013 (the "Original Circular") that accompanied the original notice of general meeting (the "Original Notice") is repeated in the New Circular for the benefit of Shareholders who may have acquired their Shares since the date of the Original Circular and Original Notice. In addition, amendments have been made to the text of the Resolutions contained in the Original Notice to simplify and reduce the number of Resolutions and to take account of the transfer by Gold Fields of its Subscription Shares to Vidacos Nominees Limited, to hold in its capacity as nominee, since the date of the Original Circular and Original Notice.

The revised Record Date and time for determining entitlements to the Distribution is now currently expected to be 6.00 p.m. on 22 May 2013.

The proposals continue to be unanimously recommended by the Board and, subject to receiving the requisite Shareholder and High Court approvals, it is now anticipated that funds will be credited to CREST accounts or cheques dispatched to Shareholders, as appropriate, on or around 30 May 2013.

Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the New Circular dated 19 April 2013.

Expected Revised Timetable of Principal Events

Notes:

(1) All references to time are to London time.

(2) Capital will be returned to those persons who are Shareholders on the Record Date, other than in respect of any of the 17,945,922 Shares which were transferred by Gold Fields on or around 22 March 2013 to Vidacos Nominees Limited.

(3) If any of the above times or dates should change, the revised times and/or dates will be notified to Shareholders via an appropriate announcement on a Regulatory Information Service.

(4) All events in the above timetable following the holding of the New General Meeting are conditional upon: (i) the passing of the Resolutions; (ii) approval of the Capital Reduction and Distribution by the High Court; and (iii) registration of the High Court Order confirming the Capital Reduction and Distribution with the UK Registrar of Companies.

For further information, please contact:

**ENDS**