REG - Bezant Resources PLC - Fundraising, Directors' Dealing and TVR

Bezant ResourcesAnnouncement

31/03/2026 07:00

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RNS Number : 7162Y  Bezant Resources PLC  31 March 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN
WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN
OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR
OR OTHERWISE ACQUIRE ANY NEW COMMON SHARES OF BEZANT RESOURCES PLC IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IT FORMS PART OF UK DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). MARKET
SOUNDINGS, AS DEFINED IN MAR, WERE TAKEN IN RESPECT OF THE PLACING WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF THIS INSIDE INFORMATION, AS
PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

31 March 2026

 

Bezant Resources Plc

("Bezant" or the "Company")

£2,070,000 Fundraise,

Directors' dealing and Total Voting Rights

 

Bezant (AIM: BZT), the copper-gold exploration and development company, is
pleased to announce an oversubscribed fundraise of £2,070,000 (gross) from
directors, existing shareholders, and new investors at 0.065 pence per
Ordinary Share ( The "Fundraising Price") to cover the cash element of the
acquisition of the additional 20% interest in the Hope and Gorob project from
70% to 90% (as announced on 24 March 2026) and to continue to fast track the
development of the Hope and Gorob project and for general working capital
requirements.

 

Fundraising:

The Company has raised £2,070,000 before expenses (the "Fundraising") at the
Fundraising Price for the issue of 3,184,615,386 new Ordinary Shares (the
"Fundraising Shares") conditional upon admission of the Fundraising Shares to
trading on AIM ("Admission"). The Fundraising comprises a placing of
3,076,923,077 new Ordinary Shares (the "Placing Shares") for £2,000,000 at
the Fundraising Price (the "Placing"), via Shard Capital Partners LLP and
share subscriptions for 107,692,309 new Ordinary Shares at the Fundraising
Price (the "Subscription Shares") to raise £70,000 (the "Subscription"). The
Subscription includes £20,000 by Colin Bird, Bezant's Executive Chairman for
30,769,231 Subscription Shares and £20,000 by Raju Samtani, Bezant's Finance
Director for 30,769,231 Subscription Shares together representing 1.93% per
cent. of the total Fundraising amount.

 

Use of Proceeds: The net proceeds from the Fundraising are planned to be used
in relation to;

i)         paying the cash element of the acquisition of an additional 20%
interest in the Hope and Gorob project to increase Bezant's interest from 70%
to 90% (see announcement dated 24 March 2026);

ii)         to continue to fast track the Hope and Gorob project
development for the anticipated delivery of first copper gold concentrates
during the second half of 2026 (see announcement dated 30 March 2026)
including mine development and plant improvements at the NLZM Processing Plant
to improve productivity and throughput pending completion of the US$7m
financing facility;

iii)         and also on corporate overheads and to provide working
capital for the Group.

 

Consultant Shares:

In accordance with the authority granted at its Annual General Meeting on 27
July 2025, the Company was authorized to settle accrued fees at the
fundraising price if done within 30 days of a fundraise and accordingly the
Board have agreed to settle £7,166 of fees due to a consultant which will be
settled by the issue of 11,024,015 new Ordinary Shares at the Fundraising
Price (the "Consultant Shares").

 

Further Details on the Fundraising:

Pursuant to the Fundraising, in aggregate, 3,184,615,386 Fundraising Shares
will be issued at the Fundraising Price to certain Directors, existing
shareholders and new investors conditional upon Admission.  The Fundraising
Price represents a discount of 23.5 per cent. to the closing middle market
price of an Ordinary Share of 0.085 pence on 30 March 2026, being the latest
practicable date prior to this announcement.  Each participant in the
Fundraising will also receive one (1) warrant exercisable at 0.165 pence per
ordinary share for three years from Admission for each Fundraising Share
issued. The Company is also issuing a warrant to Shard Capital Partners LLP to
subscribe for a total of 184,615,385 new Ordinary Shares exercisable at the
Fundraising Price for a period of three years from Admission ("Broker
Warrants").

 

The Fundraising Shares represent, in aggregate, approximately 14.6 per cent of
the Company's enlarged issued share capital as enlarged by the issue of the
Fundraising Shares and the Consultant Shares. The Fundraising Shares and the
Consultant Shares will be fully paid and rank pari passu in all respects
with the Company's existing Ordinary Shares.

 

Director's update shareholdings:

The table below shows the current shareholdings of Directors and their
associates and their shareholdings after the issue of the Fundraising Shares
and the Consultant Shares

 

 

Application to trading on AIM:

The Fundraising is conditional on Admission.  Application will be made to the
London Stock Exchange for the 3,184,615,386 Fundraising Shares, and 11,024,015
Consultant Shares (the "New Shares") to be admitted to trading on AIM. It is
expected that Admission will become effective and that dealings in the New
Shares will commence at 8.00 a.m. on 8 April 2026.

 

Total Voting Rights after Fundraising: Following the issue of the New Shares
the Company's total issued share capital will consist of 21,863,057,172
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.

 

On Admission, the abovementioned figure of 21,863,057,172 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 Guidance and Transparency Rules.

 

 

For further information, please contact:

 

 Bezant Resources Plc

Colin Bird

                                          +27 726 118 724
 Executive Chairman

 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish/Asia Szusciak

 Shard Capital Partners LLP (Joint Broker)  +44 (0) 20 4530 6926

 Damon Heath

 ALBR Capital (Joint Broker)                +44 (0) 20 7399 9400

 Jon Belliss

or visit http://www.bezantresources.com (http://www.bezantresources.com)

 

 

Disclaimer

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the FCA, is acting as Nominated Adviser
("Nomad") to the Company in connection with the matters contained in this
announcement, and will not be acting for any other person or otherwise be
responsible to any person for providing the protections afforded to clients of
Beaumont Cornish or for advising any other person in respect of the matters
set out in this announcement or any transaction, matter or arrangement
referred to in this announcement. Beaumont Cornish's responsibilities as the
Company's Nomad are owed solely to London Stock Exchange and are not owed to
the Company or to any Director or to any other person in respect of his or her
decision to acquire any shares in the Company. Furthermore, Beaumont Cornish
has not approved or authorised the release of this announcement in whole or in
part, directly or indirectly into The United States, Canada, Australia, Japan
or The Republic of South Africa or any other jurisdiction in which such
release, publication or distribution would be unlawful.

 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  ordinary shares of 0.002 pence each
                       Identification code   ISIN: GB00B1CKQD97

                                             TIDM: AIM:BZT
 b)                                          Nature of the Transaction                                    Issue of fundraising shares for £20,000 and 30,769,231 fundraising warrants
 c)                                          Price(s) and volume(s)                                       Fundraising Shares  Fundraising warrants
                                                                                                          Number  30,769,231          30,769,231
                                                                                                          Price   0.065 pence         0.165 pence
 d)                                          Aggregated information                                       Issue of 30,769,231 shares and issue of 30,769,231 warrants

                                             Aggregated volume
 e)                                          Date of the transaction                                      31 March 2026
 f)                                          Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information

Aggregated volume

Issue of 30,769,231 shares and issue of 30,769,231 warrants

 

e)

Date of the transaction

31 March 2026

 

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  ordinary shares of 0.002 pence each
     Identification code                                          ISIN: GB00B1CKQD97

                                                                  TIDM: AIM:BZT
 b)  Nature of the Transaction                                    Issue of fundraising shares for £20,000 and 30,769,231 fundraising warrants
 c)  Price(s) and volume(s)

    Fundraising Shares  Fundraising warrants
                                                                  Number  30,769,231          30,769,231
                                                                  Price   0.065 pence         0.165 pence
 d)  Aggregated information                                       Issue of 30,769,231 shares and issue of 30,769,231 shares and Issue of

                                                            30,769,231 warrants
     Aggregated volume
 e)  Date of the transaction                                      31 March  2026
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

Aggregated volume

Issue of 30,769,231 shares and issue of 30,769,231 shares and Issue of
30,769,231 warrants

e)

Date of the transaction

31 March  2026

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

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