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Regulatory Story
Company Bezant Resources PLC
TIDM BZT
Headline Grant of Share Options
Released 15:30 23-Aug-2018
Number 7363Y15

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: +44 (0)20 3289 9923

 

 

 

 

Tel: +44 (0)20 7409 3494

 

 

Tel: +44 (0)20 7399 9400

 

 

 

 

 

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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