Bezant Resources PLC (AIM: BZT), the AIM-listed mining exploration company, has announced a partial conversion of its unsecured convertible loan funding facility, resulting in the issue of 700 million new ordinary shares. Sanderson Capital Partners Limited assigned £175,000 of its £700,000 loan to Clive Roberts, who has submitted a conversion notice triggering the share issuance. The transaction reduces the outstanding balance of the Sanderson Facility to £525,000, with new shares expected to begin trading on AIM at 8.00 a.m. on or around 12 November 2026.

Key Points

  • Bezant Resources PLC (AIM: BZT) — AIM-listed mining exploration company
  • Sanderson Capital Partners assigned £175,000 of its £700,000 loan to Clive Roberts, who converted it into 700 million new ordinary shares of 0.002p each
  • Admission to AIM expected effective on or around 12 November 2026; total issued share capital rises to 23,632,525,088 ordinary shares following conversion
  • Investors should watch the remaining £525,000 outstanding under the Sanderson Facility, with Sanderson's own conversion shares locked up until 31 March 2027

Sanderson Capital Assigns £175,000 Loan Slice to Clive Roberts, Triggering Conversion Into 700 Million BZT Shares

The announcement states that Sanderson Capital Partners Limited, a long-standing shareholder of Bezant Resources, assigned £175,000 of its existing £700,000 unsecured convertible loan to Clive Roberts. Following receipt of a conversion notice from Roberts, the company will issue and allot 700 million new ordinary shares of 0.002p each. The Sanderson Facility was originally entered into on 22 November 2021 and has been amended and extended on multiple occasions, most recently by an addendum dated 10 June 2026, underscoring the facility's prolonged role in supporting the company's funding position.

BZT Total Issued Share Capital Reaches 23.6 Billion Ordinary Shares After Conversion Shares Are Admitted

Upon admission of the 700 million Conversion Shares to trading on AIM, Bezant's total issued share capital will stand at 23,632,525,088 ordinary shares, all carrying voting rights. The company holds no shares in treasury. This figure serves as the denominator shareholders must use when calculating whether they are required to disclose interests or changes in interests under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules, as stated in the announcement. The Conversion Shares will rank pari passu with existing ordinary shares in the company upon issuance.

Sanderson Capital Lock-Up Until 31 March 2027 Applies to Any Future Conversion of £525,000 Outstanding Loan

Following the partial conversion, £525,000 of the original Sanderson Facility remains outstanding. The announcement confirms that Sanderson Capital, described as a long-time shareholder of Bezant, has agreed that any shares issued to it upon conversion of this remaining outstanding loan will be subject to a lock-up restriction until 31 March 2027. Investors may be watching whether further conversion notices are submitted against this residual balance before or after that date, given the facility's history of successive amendments and extensions since its inception in November 2021.