REG - Bezant Resources PLC - Update - Blackstone & IDM Merger Becomes Effective

Bezant ResourcesAnnouncement

18/06/2025 08:30

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RNS Number : 3484N  Bezant Resources PLC  18 June 2025

 

18 June 2025

Bezant Resources Plc

("Bezant" or the "Company")

Mankayan Project Update
Blackstone and IDM Merger Become Effective

 

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 18 June
2025 released an announcement to advise that IDM has today lodged with the
Australian and investments Commission ("ASIC") a copy of the orders of the
Supreme Court of Western Australia approving the Scheme by which Blackstone
will acquire 100% of the fully paid ordinary shares in IDM and that
accordingly , pursuant to section 411 (10) of the Australian Corporations Act
2001 (Cth), the Scheme is now effective The key events and the expected timing
in relation to the implementation and timing of the Scheme are set out in the
indicative table below:

 

 Event                                   Date and time (AWST)
 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 18 June 2025 titled "Update: Blackstone
Merger with IDM - Scheme of Arrangement Becomes Effective" which incorporates
an announcement dated 18 June 2025 from IDM has been published on the ASX
website at

https://announcements.asx.com.au/asxpdf/20250618/pdf/06kw13jwsfqkjp.pdf
(https://announcements.asx.com.au/asxpdf/20250618/pdf/06kw13jwsfqkjp.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
(https://www.asx.com.au/markets/company/BSX)

 

 

For further information, please contact:

 Bezant Resources Plc

+44 (0) 20 3416 3695
 Colin Bird Executive Chairman
 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish / Asia Szusciak
 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

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 (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.

 

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