Bezant Resources PLC Result of General Meeting and Board Changes (3918G)

TIDMBZT

RNS Number : 3918G

Bezant Resources PLC

01 March 2018

1 March 2018

Bezant Resources Plc

("Bezant" or the "Company")

Result of General Meeting and

Appointment of Executive Chairman

Bezant (AIM: BZT), the AIM quoted mineral exploration and development company, announces that the resolutions proposed at the General Meeting ("GM") held earlier today, as set out in the notice dated 12 February 2018, were all duly approved by shareholders.

The purpose of the GM was to seek shareholder approval for the issue of the Tranche Two Shares and Warrants in respect of the recent equity fundraising, as set out and defined in the Company's announcement of 5 February 2018, and to update the relevant Board authorities to allot the Company's shares.

Accordingly, application has been made for the 88,888,889 Tranche Two Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Tranche Two Shares will commence at 8.00 a.m. on 2 March 2018.

Following the issue of the abovementioned Tranche Two Shares, the Company's total issued share capital will consist of 745,606,371 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. The Tranche Two Shares will be fully paid and will rank pari passu in all respects with the Company's existing ordinary shares.

On Admission of the Tranche Two Shares, the above figure of 745,606,371 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 and Transparency Rules.

Board Changes

With effect from Admission and further to the Company's announcement of 5 February 2018, Mr Colin Bird will be appointed to the Board of the Company as Executive Chairman and Mr Edward Nealon will step down from the role of Chairman and as a non-executive director to the Board. Mr Bird intends to work closely with Mr Laurence Read, Chief Executive Officer, towards realising value from the Company's current asset portfolio commencing with a full geological and corporate review of operations. The Board would like to thank Mr Nealon for his considerable contribution and support over the years as Bezant has progressed into a proven operator with highly prospective platinum, copper and gold assets.

For further information, please contact:

 
Bezant Resources Plc                      Tel: [phone] 
 Laurence Read                             9923 
 Chief Executive Officer 
 
 Strand Hanson Limited (Nomad) 
 James Harris / Matthew Chandler           Tel: [phone] 
 / James Dance                             3494 
 
 Peterhouse Corporate Finance 
 Limited (Broker)                          Tel: [phone] 
 Lucy Williams / Duncan Vasey              9797 
 / Heena Karani 
 
 Beaufort Securities Limited               Tel: [phone] 
 (Broker)                                  8300 
 Elliot Hance 
 
 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.

Additional Information on the Appointment of the Executive Chairman

The following additional information is provided in accordance with paragraph (g) of Schedule Two of the AIM Rules for Companies in relation to the appointment of Mr Bird:

Colin Bird (aged 74)

 
 Current Directorships          Past Directorships / Partnerships 
  / Partnerships                 (last 5 years) 
-----------------------------  ---------------------------------- 
                                1 Tara Bar and Restaurant 
 African Pioneer Plc             CC 
 Bird Leisure and Admin 
  (Pty) Ltd                     Add X Trading 810 CC 
 Braemore Resources Ltd         Afminco (Pty) Ltd 
 Dullstroom Plats (Pty) 
  Ltd                           Dialyn Café CC 
                                Emanual Mining and Exploration 
 Ferrum Crescent Limited         (Pty) Ltd 
 Galagen (Pty) Ltd              Isigidi Trading 413 CC 
                                Jubilee Smelting & Refining 
 Galileo Resources Plc           (Pty) Ltd 
 Galileo Resources South        Mokopane Mining & Exploration 
  Africa (Pty) Ltd               (Pty) Ltd 
 Glenover Phosphate (Pty) 
  Ltd                           NDN Properties CC 
 Holyrood Platinum (Pty) 
  Ltd                           Orogen Gold Plc 
 Jubilee Metals Group           Pilanesberg Mining Co 
  Plc                            (Pty) Ltd 
 Jubilee Tailings Treatment 
  Company (Pty) Ltd             Pioneer Coal (Pty) Ltd 
 Lion Mining Finance 
  Ltd                           PowerAlt (Pty) Ltd 
 M.I.T. Ventures Group          SacOil Holdings Ltd 
 Maude Mining & Exploration 
  (Pty) Ltd                     Sovereign Energy Plc 
 New Age Metals Inc 
 NewPlats (Tjate) (Pty) 
  Ltd 
 Revelo Resources Corp 
 Tiger Resource Finance 
  Plc 
 Tjate Platinum Corporation 
  (Pty) Ltd 
 Umhlanga Lighthouse 
  Café CC 
 Windsor Platinum Investments 
  (Pty) Ltd 
 Xtract Resources Plc 
 

With effect from Admission and completion of the equity fundraising, Mr Bird will be interested in 11,111,111 ordinary shares in the capital of the Company, representing approximately 1.49 per cent. of the Company's issued ordinary share capital as enlarged by the Tranche Two Shares, together with 5,555,555 warrants with each warrant giving the right to subscribe for a new ordinary share at a price of one pence per share for a period of 30 months from the date of issue.

There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.

Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circular to shareholders of the Company dated 12 February 2018.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROMSSDFSFFASEED

(END) Dow Jones Newswires

March 01, 2018 05:30 ET (10:30 GMT)