Bezant Resources PLC Result of Annual General Meeting (1577A)
24 May 2019 - 8:52PM
UK Regulatory
TIDMBZT
RNS Number : 1577A
Bezant Resources PLC
24 May 2019
24 May 2019
Bezant Resources Plc
("Bezant" or the "Company")
Result of Annual General Meeting
Bezant (AIM: BZT), the copper-gold exploration and development
company, announces that the resolutions proposed at its Annual
General Meeting ("AGM") held earlier today, as set out in the
notice dated 30 April 2019, were all duly approved by
shareholders.
Share Capital Reorganisation
At the AGM, a resolution to approve the reorganisation of the
Company's share capital was passed in order to reduce the nominal
value of the Company's ordinary shares such that the Company is
then able to issue new ordinary shares at a price below GBP0.02 per
ordinary share in the event that the Directors seek to raise
additional equity finance at such a price to provide, inter alia,
additional working capital for the group. Pursuant to this
resolution, every existing ordinary share in the capital of the
Company in issue of GBP0.002 each ("Existing Ordinary Shares") will
be re-designated and sub-divided into 1 (one) new ordinary share of
GBP0.00002 each ("New Ordinary Shares") and 1 (one) deferred share
of GBP0.00198 each ("Deferred Shares") with effect from the close
of business today. Accordingly, trading in the Company's Existing
Ordinary Shares on AIM will cease with effect from the close of
business today.
There are currently 998,773,038 Existing Ordinary Shares and
application has been made to the London Stock Exchange for
998,773,038 New Ordinary Shares to be admitted to trading on AIM
("Admission"), and Admission is expected to become effective and
dealings in the 998,773,038 New Ordinary Shares are expected to
commence at 8.00 a.m. on Tuesday 28 May 2019. On Admission, the
Company's issued ordinary share capital will consist of 998,773,038
New Ordinary Shares with voting rights. Prior to the Share Capital
Reorganisation there were 998,773,038 Existing Ordinary Shares
admitted to trading on AIM such that there will have been no change
in the number of the Company's shares admitted to trading on AIM as
a result of implementation of the share capital reorganisation.
Bezant does not hold any ordinary shares in treasury and
accordingly there are no voting rights in respect of any treasury
shares.
The aforementioned figure of 998,773,038 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,
securities of the Company.
Apart from the change in nominal value, the New Ordinary Shares
arising on implementation of the capital reorganisation will have
the same rights as the Existing Ordinary Shares, including voting,
dividend and other rights. Shareholders are therefore advised to
retain their existing share certificates which will remain valid.
Shareholders who hold their Existing Ordinary Shares in
uncertificated form through CREST will have their CREST accounts
updated automatically to reflect the change in the nominal value of
the ordinary shares.
The Deferred Shares will have no practical economic value as,
inter alia, they will not be quoted or traded on AIM, will be
non-voting, will carry no right to a dividend and will be subject
to eventual redemption by the Company for a nominal amount. No
share certificates will be issued in respect of the Deferred Shares
nor will CREST accounts of shareholders be credited in respect of
any entitlement to Deferred Shares, no application will be made for
their admission to trading on AIM and they will not be dealt in on
any stock exchange.
For further information, please contact:
Bezant Resources plc
Laurence Read Tel: +44 (0)20 3289
Chief Executive Officer 9923
Colin Bird
Executive Chairman
Strand Hanson Limited (Nomad)
James Harris / Matthew Chandler / James
Bellman Tel: +44 (0)20 7409
3494
Novum Securities Limited (Broker)
Jon Belliss
Tel: +44 (0)20 7399
or visit http://www.bezantresources.com 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.
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.
END
RAGCKQDQKBKDCPB
(END) Dow Jones Newswires
May 24, 2019 06:52 ET (10:52 GMT)
Bezant Resources (LSE:BZT)
Historical Stock Chart
From Apr 2024 to May 2024
Bezant Resources (LSE:BZT)
Historical Stock Chart
From May 2023 to May 2024