Issue of Equity and Total Voting Rights

RNS Number : 7228Q

Bezant Resources PLC

01 March 2021

 

1 March 2021

Bezant Resources Plc

("Bezant" or the "Company") 

Issue of Shares re Acquisition of

Virgo Resources Ltd, Total Voting Rights

Bezant (AIM: BZT), the copper-gold exploration and development company, further to its announcement of 17 August 2020 regarding the completion of its acquisition of 100% of Virgo Resources Ltd and its interests in the Hope Copper-Gold Project in Namibia  announces the issue of 34,000,000 Bezant Shares. These new shares are the Balance of Assets Sellers Shares referred to in the 17 August 2020 announcement and have been issued to settle £40,800 at 0.12 pence per share based on the share price on 14 August 2020.

Application to trading on AIM : Application will be made to the London Stock Exchange for a total of 34,000,000 new Bezant Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the new Bezant Shares will commence at on or around 8.00 a.m. on 5 March 2021.

Total Voting Rights after Fundraising : Following the issue of the new shares , the Company's total issued share capital will consist of  3,847,764,115 Ordinary Shares with voting rights.  The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. 

On Admission, the abovementioned figure of 3,847,764,115 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, Bezant under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Lock up and Orderly Market: The Balance of Assets Sellers Shares will be subject to orderly market trading and release schedules as follows;

i)  25% of the Share-based Consideration will be freely tradable on Admission

ii)  25% of the Share-based Consideration will be freely tradable after 15 August 2021

iii)  50% of the Share-based Consideration will be freely tradable after 15 February 2022

For further information, please contact:

Bezant Resources Plc Colin Bird Executive Chairman	[phone]
Beaumont Cornish (Nominated Adviser)  Roland Cornish	[phone]
Novum Securities Limited (Broker) Jon Belliss	[phone]

or visit http://www.bezantresources.com  

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.

 

END

 

 

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