Grant of Share Options

RNS Number : 7363Y

Bezant Resources PLC

23 August 2018

 

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.
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.
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.
Exercise prices versus abovementioned VWAP and prevailing share price:		Premium to:
		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%
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 optionholder leaving the Company or within 12 months of the death of an optionholder.
Options awarded to the Directors (no Directors held any options prior to these awards):	Director Options exercisable at 0.5 pence (vesting on 23 August 2018) (millions) Options exercisable at 1 pence (vesting on 31 January 2019) (millions) Colin Bird 15.0 12.5 Laurence Read 15.0 12.5 Ronnie Siapno 7.5 5.0 Dr. Evan Kirby 5.0 2.5 Total: 42.5 32.5

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: [phone] Tel: [phone] Tel: [phone]

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)	Exercise Price(s) No. of options 0.50p 15,000,000 1.00p 12,500,000
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)	Exercise Price(s) No. of options 0.50p 15,000,000 1.00p 12,500,000
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)	Exercise Price(s) No. of options 0.50p 7,500,000 1.00p 5,000,000
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)	Exercise Price(s) No. of options 0.50p 5,000,000 1.00p 2,500,000
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)

 

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