Business
Issue of Options
Issue of Options.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8720E\n Bezant Resources PLC\n 10 November 2020\n \n \n \n \n 10 November 2020\n \n \n Bezant Resources Plc\n \n \n (\"Bezant\" or the \"Company\") \n \n \n Issue of Options\n \n \n \n \n \n Bezant (AIM: BZT), the copper-gold exploration and development company, announces \n that, in aggregate, 220 million options over ordinary shares of 0.002 pence each in the capital of the Company (\"Ordinary Shares\") have today been granted pursuant to the Executive Share Option Scheme approved at the Company's Annual General Meeting (\"AGM\") held on 22 June 2018 (the \"Options\"). Of the 220,000,000 Options, 158,000,000 have been awarded to directors of the Company, 30,000,000 to a non-director PDMR as detailed further below and the balance of 32,000,000 to other eligible participants.\n \n \n \n \n \n \n Summary of the Options awarded\n \n :\n \n \n \n \n \n \n \n \n Total number of options:\n \n \n \n \n A total of 220,000,000 Options have been awarded.\n \n \n \n \n \n \n Exercise prices & award date:\n \n \n \n \n 110,000,000 Options have an exercise price of 0.425 pence per Ordinary Share and vest on 9 November 2020 and the balance of 110,000,000 Options have an exercise price of 0.565 pence per Ordinary Share and vest on the earlier of i) 31 March 2021 or ii) an offer for a change of control of the Company. \n \n \n \n \n \n \n \n \n \n Purpose of options:\n \n \n \n \n \n \n \n To Incentivise and retain directors, officers, consultants and employees critical to enhancing the future market value of the Company and note the significant premium of the respective exercise prices relative to the share price and 30 day VWAP.\n \n \n \n \n \n \n \n \n \n 30 day VWAP when Options approved:\n \n \n \n \n The 30 day volume weighted average share price (\"VWAP\") to 5 November 2020, being the latest practicable date prior to the approval of the Options by the Company's Remuneration Committee and Board, was 0.281 pence per share.\n \n \n \n \n \n \n \n \n \n Prevailing share price: \n \n \n \n \n The Company's mid-market closing share price on 5 November 2018, being the latest practicable date prior to the approval of the Option awards, was 0.28 pence.\n \n \n \n \n \n \n \n \n \n Exercise prices versus abovementioned VWAP and prevailing share ...