Business
Equity Fundraising to raise £600,000 (gross)
Equity Fundraising to raise £600,000 (gross).
About this update from Bezant Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8522D Bezant Resources PLC 05 February 2018 \n\n5 February 2018\nBezant Resources Plc\n(\"Bezant\" or the \"Company\")\n \nEquity Fundraising to raise £600,000 (gross)\nand \nProposed Board Changes\nBezant (AIM: BZT), the AIM quoted mineral exploration and development company, announces that it has raised, in aggregate, £600,000 before expenses through a subscription and placing of, in aggregate, 133,333,333 new ordinary shares of 0.2 pence each in the capital of the Company (\"Ordinary Shares\") at a price of 0.45 pence per share (the \"Issue Price\") (the \"Fundraising\"). The Fundraising comprises a placing, which was oversubscribed, of 126,436,773 new Ordinary Shares via the Company's broker, Peterhouse Corporate Finance Limited, and a subscription for a further 6,896,560 new Ordinary Shares, both at the Issue Price, with certain existing and new strategic investors.\n \nThe Fundraising is being undertaken in two tranches, comprising the initial issuance of 44,444,444 new Ordinary Shares (the \"Tranche One Shares\") utilising the Company's pre-existing share capital authorities and the conditional issuance of a further 88,888,889 new Ordinary Shares (the \"Tranche Two Shares\"), subject to the requisite shareholder approval. The Tranche One Shares are expected to be admitted to trading on AIM at 8.00 a.m. on 9 February 2018. The issue of the Tranche Two Shares is conditional on, inter alia, the passing of certain resolutions by Bezant's shareholders (the \"Resolutions\") at a duly convened general meeting of the Company (the \"General Meeting\"), notice of which will be set out in a circular to be posted to shareholders shortly. If the Resolutions are duly passed, the Tranche Two Shares will be issued and are currently expected to be admitted to trading on AIM on the first trading day following the General Meeting. \n \nCornerstone Investor and Proposed Bo...