Bezant (AIM: BZT), the copper-gold exploration and development company, is pleased to announce that the resolution proposed at its General Meeting held earlier today, as set out in the notice dated 11 October 2019, was duly approved by shareholders.
On 7 October 2019, the Company announced the proposed disposal of 80 per cent. of the Company's interest in the Mankayan copper-gold project in the Philippines to Mining and Minerals Industries Holding Pte. Ltd. ("MMIH"), a private company incorporated in Singapore. Due to its size, the proposed disposal constitutes a fundamental change of business for the Company, and accordingly shareholder approval for the transaction was required in accordance with AIM Rule 15. The Company has now obtained the requisite shareholders' approval such that the principal remaining condition precedent is for MMIH to amend its existing RTO Transaction agreements with China Hongxing Sports Limited to reflect its transaction with Bezant as further detailed in the Company's circular of 11 October 2019.
A further announcement(s) will be made, as appropriate, in due course.
Unless otherwise defined herein, capitalised terms used in this announcement shall have the meanings given to them in the circular dated 11 October 2019.
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 [email protected] or visit www.rns.com.
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Mining Capital's Alastair Ford gives his take on the news this week that Bezant Resources PLC (LON:BZT) has conditionally agreed to sell an 80% interest in the Mankayan copper project in the Philippines.
It's being sold to Mining and Minerals Industries Holding Ltd which itself has...