BEZANT RESOURCES PLC

M&A Activity • Jun 17, 2025

National Storage Mechanism | Additional information

RNS Number : 2435N

Bezant Resources PLC

17 June 2025

17 June 2025

Bezant Resources Plc

("Bezant" or the "Company")     

Mankayan Project Update

Blackstone and IDM Merger Court Approval

Bezant (AIM: BZT), the copper-gold exploration and development company, announced on 6 February 2025 that ASX listed Blackstone Minerals Ltd ("Blackstone") had announced a proposed merger (the "Proposed IDM Merger") via a scheme of arrangement ("Scheme") with IDM International Limited ("IDM") through which the Company holds its interest in the Mankayan Copper Gold project in the Philippines ("Mankayan Project"). Blackstone have on 17 June 2025 released an announcement to advise that the Supreme Court of Western Australia has today made order ("Court Order") approving the Scheme by which Blackstone will acquire 100% of the fully paid ordinary shares in IDM. Once the Court Orders are lodged with the Australian Securities and Investment Commission ("ASIC") , which IDM propose to do tomorrow, the Scheme will become legally effective. The key events and the expected timing in relation to the approval and implementation of the scheme are set out in the indicative table below:

Event	Date and time (AWST)
Effective Date of Scheme	Wednesday 18 June 2025
Record  Date	5.00 p.m. , Friday 20 June 2025
Implementation Date	Friday 27 June 2025
Normal trading of BSX shares commences	8.00 a.m., Monday 30 June 2025

The above timetable is indicative only and the stated dates and times are subject to change

A copy of Blackstone's announcement of 17 June 2025 titled "Update: Blackstone and IDM Merger - Court Approval of Scheme" which incorporates an announcement dated 17 June 2025 from IDM has been published on the ASX website at

https://announcements.asx.com.au/asxpdf/20250617/pdf/06kv49r86l76qx.pdf  

Under the Proposed IDM Merger IDM shareholders will receive 7.4 Blackstone shares for every 1 (one) IDM share they hold.   

When the Proposed IDM Merger is completed Bezant will receive 139,365,659  Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06 expiring on 5 February 2029 for its IDM shares and IDM options. The Blackstone closing share price on 17 June 2025 according to the ASX website was AUD 9.1 cents (approximately 4.4 pence)

https://www.asx.com.au/markets/company/BSX   

For further information, please contact:

Bezant Resources Plc 

Colin Bird Executive Chairman

+44 (0) 20 3416 3695

Beaumont Cornish (Nominated Adviser) 

Roland Cornish / Asia Szusciak

+44 (0) 20 7628 3396

Novum Securities Limited (Joint Broker)

Jon Belliss

+44 (0) 20 7399 9400

Shard Capital Partners LLP (Joint Broker)

Damon Heath

+44 (0) 20 7186 9952

or visit http://www.bezantresources.com

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

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 rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEASKXFFFSEFA