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BEZANT RESOURCES PLC
Remuneration Information • Nov 10, 2020
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 8720E
Bezant Resources PLC
10 November 2020
10 November 2020
Bezant Resources Plc
("Bezant" or the "Company")
Issue of Options
Bezant (AIM: BZT), the copper-gold exploration and development company, announces that, in aggregate, 220 million options over ordinary shares of 0.002 pence 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 220,000,000 Options, 158,000,000 have been awarded to directors of the Company, 30,000,000 to a non-director PDMR as detailed further below and the balance of 32,000,000 to other eligible participants.
Summary of the Options awarded:
Total number of options:
A total of 220,000,000 Options have been awarded.
Exercise prices & award date:
110,000,000 Options have an exercise price of 0.425 pence per Ordinary Share and vest on 9 November 2020 and the balance of 110,000,000 Options have an exercise price of 0.565 pence per Ordinary Share and vest on the earlier of i) 31 March 2021 or ii) an offer for a change of control of the Company.
Purpose of options:
To Incentivise and retain directors, officers, consultants and employees critical to enhancing the future market value of the Company and note the significant premium of the respective exercise prices relative to the share price and 30 day VWAP.
30 day VWAP when Options approved:
The 30 day volume weighted average share price ("VWAP") to 5 November 2020, being the latest practicable date prior to the approval of the Options by the Company's Remuneration Committee and Board, was 0.281 pence per share.
Prevailing share price:
The Company's mid-market closing share price on 5 November 2018, being the latest practicable date prior to the approval of the Option awards, was 0.28 pence.
Exercise prices versus abovementioned VWAP and prevailing share price:
Premium to:
Prevailing
share price
30 day
VWAP
Exercise price of 0.425 pence
52%
51%
Exercise price of 0.565 pence
102%
101%
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 option holder leaving the Company or within 12 months of the death of an option holder.
Options awarded to the Directors (No. of options in millions)
| Exercise price & vesting date | ||
| Director | 0.425 pence (vesting on 9 Nov 2020) | 0.565 pence (vesting on 31 March 2021) |
| Options in millions | ||
| Colin Bird | 24 | 24 |
| Raju Samtani | 20 | 20 |
| Edward Patrick Slowey | 20 | 20 |
| Dr. Evan Kirby | 10 | 10 |
| Ronnie Siapno | 5 | 5 |
| Total Directors | 79 | 79 |
Options awarded to PDMRs (No. of options in millions)
| Exercise price & vesting date | ||
| Person | 0.425 pence (vesting on 9 Nov 2020) | 0.565 pence (vesting on 31 March 2021) |
| Options in millions | ||
| Michael Allardice (awarded to Quantum Capital and Consulting Ltd) |
15 | 15 |
| Total other PDMRs | 15 | 15 |
Following the vesting of the above options the Company will have 307,500,000 options in issue and the directors will hold the following options over Ordinary Shares all of which expire 21 June 2028
| Options in millions | Exercise Price | ||||
| Director | 0.425 pence | 0.565 pence | 0.500 pence |
1.000 pence |
Total No. of Options |
| Colin Bird | 24.0 | 24.0 | 15.0 | 12.5 | 75.5 |
| Raju Samtani | 20.0 | 20.0 | - | - | 40.0 |
| Edward Patrick Slowey | 20.0 | 20.0 | - | - | 40.0 |
| Dr. Evan Kirby | 10.0 | 10.0 | 5.0 | 2.5 | 27.5 |
| Ronnie Siapno | 5.0 | 5.0 | 7.5 | 5.0 | 22.5 |
| 79.0 | 79.0 | 27.5 | 20.0 | 205.5 |
For further information, please contact:
| Bezant Resources Plc Colin Bird Executive Chairman |
+27 726 118 724 |
| Beaumont Cornish (Nominated Adviser) Roland Cornish |
+44 (0) 020 7628 3396 |
| Novum Securities Limited (Broker) Jon Belliss |
+44 (0) 20 7399 9400 |
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 ("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 pence 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 |
| 0.425p | 24,000,000 |
| 0.565p | 24,000,000 |
d)
Aggregated information
Aggregated volume
A total of 48,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Raju Samtani
2.
Reason for the Notification
a)
Position/status
Finance 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 pence 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 |
| 0.425p | 20,000,000 |
| 0.565p | 20,000,000 |
d)
Aggregated information
Aggregated volume
A total of 40,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Edward Patrick Slowey
2.
Reason for the Notification
a)
Position/status
Technical 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 pence 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 |
| 0.425p | 20,000,000 |
| 0.565p | 20,000,000 |
d)
Aggregated information
Aggregated volume
A total of 40,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
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 pence 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 |
| 0.425p | 10,000,000 |
| 0.565p | 10,000,000 |
d)
Aggregated information
Aggregated volume
A total of 20,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
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 pence 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 |
| 0.425p | 5,000,000 |
| 0.565p | 5,000,000 |
d)
Aggregated information
Aggregated volume
A total of 10,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Michael Graham Allardice / Quantum Capital and Consulting Limited
2.
Reason for the Notification
a)
Position/status
Group Company Secretary / Consulting company of Michael Graham Allardice
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 pence 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 |
| 0.425p | 15,000,000 |
| 0.565p | 15,000,000 |
d)
Aggregated information
Aggregated volume
A total of 30,000,000 options
e)
Date of the transaction
2020/11/09
f)
Place of the transaction
Outside a trading venue
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