Remuneration Information • Aug 23, 2018
Remuneration Information
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National Storage Mechanism | Additional information
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:
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)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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