Grant of Options and Director/PDMR Shareholding
Bezant Resources Plc has granted an aggregate of 771 million options over ordinary shares, with an exercise price of 0.165 pence, to directors, a PDMR, and other eligible participants. These options vest upon the breaking of ground at the Hope and Gorob mine site (50%) and the first sale of concentrate from ore mined there (50%), with full vesting upon a change of control or sale of the project. The exercise price represents a significant premium over the 30-day volume-weighted average share price of 0.10179 pence and the prevailing share price of 0.1075 pence as of February 27, 2026. The options expire on June 21, 2028.
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Bezant (AIM: BZT), the copper-gold exploration and development company, announces that, in aggregate, 771 million options (the "Options") over ordinary shares of 0.002 pence each in the capital of the Company ("Ordinary Shares") have been granted pursuant to the Executive Share Option Scheme approved at the Company's Annual General Meeting ("AGM") held on 22 June 2018 (the "Scheme"). Of the 771 million Options, 322.5 million have been awarded to directors of the Company and their respective associates, 80 million to a non-director PDMR as detailed further below and the balance of 368.5 million to other eligible participants under the Scheme.
Summary of the Options awarded:
| Total number of options: | A total of 771 million Options have been awarded. | |
| Exercise price & vesting criteria: | The Options have an exercise price of 0.165 pence per Ordinary Share. 50% of the Options will vest upon the breaking of ground at the Hope and Gorob mine site and the balance of 50% will vest upon the first sale of concentrate from ore mined at the Hope and Gorob mine with all options vesting on a change of control and / or sale of the Hope and Gorob project. | |
| Purpose of options: | To incentivise and retain directors, officers, consultants and employees critical to enhancing the future market value of the Company at a significant premium of the respective exercise prices relative to the share price and 30 day VWAP. | |
| 30 day VWAP when Options approved: | The 30 day volume weighted average share price ("VWAP") to 27 February 2026, being the latest practicable date prior to the approval of the Options by the Company's Remuneration Committee, was 0.10179 pence per share. | |
| Prevailing share price: | The Company's mid-market closing share price on 27 February 2026, being the latest practicable date prior to the approval of the Option awards, was 0.1075 pence. | |
| Exercise prices versus abovementioned VWAP and prevailing share price: | ||
| Prevailing share price | 30 day VWAP | |
| Exercise price of 0.165 pence | 153% | 162% |
| Life of Options: | The options expire on 21 June 2028 being the date one day prior to the tenth anniversary of the passing of the resolution at the Company's AGM held on 22 June 2018 to approve the Executive Share Option Scheme. | |
| Exercise period: | The Options can be exercised any time after vesting and prior to their scheduled expiry and must be exercised within 6 months of an option holder leaving the Company or within 12 months of the death of an option holder. | |
| Options awarded to the Directors (No. of options in millions) | Directors Colin Bird*, Chairman & CEO 257.5 Raju Samtani, Finance Director 35.0 Edward Patrick Slowey, Technical Director 10.0 Dr. Evan Kirby, NED 20.0 Ronnie Siapno, NED - Total 322.5 * Includes 7.5M options to Colin Bird's wife Sylvia Vrska | |
| Options awarded to PDMRs (No. of options in millions) | PDMR s Michael Allardice***, Group Company Secretary 80.0 Total 80.0 | |
*** Options being granted to Quantum Capital & Consulting Limited, a personal service company of Michael Allardice
Following the vesting of the above options the Company will have 1,426M options in issue and the Directors and the PDMR will hold the following 875.5M options over Ordinary Shares all of which expire 21 June 2028
** Not yet vested
The Remuneration Committee has resolved but with each member of the Remuneration Committee abstaining in relation to their own Option Awards that the Company make the Option Awards under the Scheme with the vesting criteria and vesting dates as set out above.
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 | (i) Colin Bird (ii) Sylvia Vrska |
| 2. | Reason for the Notification | |
| a) | Position/status | (i) Executive Chairman & Director (ii) Colin Bird's wife |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Bezant Resources PLC |
| b) | LEI | 2138008K9GRXDUVYVK15 |
| Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |
| b) | Nature of the Transaction | Award of options |
| c) | Price(s) and volume(s) | (i) Colin Bird: 250 million options with an exercise price of 0.165 pence (ii) Sylvia Vrska:7.5 million options with an exercise price of 0.165 pence |
| d) | Aggregated information Aggregated volume | A total of 257.5 million options |
| e) | Date of the transaction | 2 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 |
| a) | Name | Bezant Resources PLC |
| b) | LEI | 2138008K9GRXDUVYVK15 |
| Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |
| b) | Nature of the Transaction | Award of options |
| c) | Price(s) and volume(s) | 35 million options with an exercise price of 0.165 pence |
| d) | Aggregated information Aggregated volume | A total of 35 million options |
| e) | Date of the transaction | 2 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Edward Patrick Slowey |
| 2. | Reason for the Notification | |
| a) | Position/status | Technical Director |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Bezant Resources PLC |
| b) | LEI | 2138008K9GRXDUVYVK15 |
| Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |
| b) | Nature of the Transaction | Award of options |
| c) | Price(s) and volume(s) | 10 million options with an exercise price of 0.165 pence |
| d) | Aggregated information Aggregated volume | A total of 10 million options |
| e) | Date of the transaction | 2 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Dr. Evan Kirby |
| 2. | Reason for the Notification | |
| a) | Position/status | Non-Executive Director |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Bezant Resources PLC |
| b) | LEI | 2138008K9GRXDUVYVK15 |
| Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |
| b) | Nature of the Transaction | Award of options |
| c) | Price(s) and volume(s) | 20 million options with an exercise price of 0.165 pence |
| d) | Aggregated information Aggregated volume | A total of 20 million options |
| e) | Date of the transaction | 2 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Michael Graham Allardice / Quantum Capital and Consulting Limited |
| 2. | Reason for the Notification | |
| a) | Position/status | Group Company Secretary / Consulting company of Michael Graham Allardice |
| b) | Initial notification/amendment | Initial notification |
| a) | Name | Bezant Resources PLC |
| b) | LEI | 2138008K9GRXDUVYVK15 |
| Identification code | ISIN: GB00B1CKQD97 TIDM: AIM:BZT | |
| b) | Nature of the Transaction | Award of options |
| c) | Price(s) and volume(s) | 80 million options with an exercise price of 0.165 pence |
| d) | Aggregated information Aggregated volume | A total of 80 million options |
| e) | Date of the transaction | 2 March 2026 |
| f) | Place of the transaction | Outside a trading venue |
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