Share Issue/Capital Change • Dec 21, 2017
Share Issue/Capital Change
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RNS Number : 0023A
Ariana Resources PLC
21 December 2017
21 December 2017
AIM: AAU
ISSUE OF EQUITY and OPTIONS
DIRECTORS' DEALINGS
TOTAL VOTING RIGHTS
Ariana Resources plc ("Ariana" or the "Company"), the exploration and development company operating in Turkey, announces that on 18 December 2017, the Board of Directors, on the recommendation of the Remuneration Committee, approved the issue of shares to the Directors in accordance with the Company's bonus policy together with the award of options both to Directors and certain members of staff.
Directors' Bonus Shares
A bonus is being awarded to the Directors in recognition of their dedication and commitment, over many years, towards achieving commercial production from the Kiziltepe Mine. This bonus is being split amongst the four Directors in proportion to their fees, and is being paid as one third in cash and two thirds in new ordinary shares ("Bonus Shares") at the issue price of 1.25 pence per share, such price being fixed by reference to the 30 day VWAP as at the date of the Remuneration Committee. A total of 8,040,000 Bonus Shares are being issued representing 0.76% of the Company's existing issued share capital ("ISC").
Grant of Share Options
64,000,000 new 5 year options (6.08% of the ISC) vesting from 1 January 2018 over three years at 1.55 pence per share - such price being based on an approximately 25% premium to VWAP after consideration by the Remuneration Committee are being granted: 44,000,000 options (4.18% of the ISC) to Directors, and 20,000,000 new options (1.90% of the ISC) to other employees ("New Scheme").
Further to the issue of the Bonus Shares and options under the New Scheme, Directors' holdings are as follows:
| Name | Number of Bonus Shares awarded | Number of options granted | Total shareholding | % of issued share capital | % of enlarged share capital |
| Kerim Sener | 3,752,000 | 19,000,000 | 18,104,252 | 1.72% | 1.71% |
| Michael de Villiers | 2,680,000 | 17,000,000 | 36,680,000 | 3.49% | 3.46% |
| William Payne | 804,000 | 4,000,000 | 7,894,314 | 0.75% | 0.74% |
| Chris Sangster | 804,000 | 4,000,000 | 2.648,292 | 0.25% | 0.25% |
Application is being made for the 8,040,000 Bonus Shares, which will rank pari passu with all existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission"). Admission is expected on or around 29 December 2017.
Total Voting Rights
At Admission, the Company's issued share capital will consist of ordinary shares with a nominal value of 0.1 pence each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 1,059,677,937.
Market Abuse Regulation
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").
Contacts:
| Ariana Resources plc | Tel: +44 (0) 20 7407 3616 |
| Michael de Villiers, Chairman | |
| Kerim Sener, Managing Director | |
| Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
| Roland Cornish / Felicity Geidt | |
| Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
| Jon Belliss | |
| Panmure Gordon (UK) Limited | Tel: +44 (0) 20 7886 2500 |
| Adam James / Tom Salvesen | |
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail in respect of (a) the Directors being awarded Bonus Shares and (b) the Directors being granted options under the New Scheme as described above
(a)
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Kerim Sener
Michael deVilliers
William Payne
Chris Sangster
2
Reason for notification
a)
Position / status
Director
Director
Director
Director
b)
Initial notification
/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Ariana Resources plc
b)
LEI
213800LVVY7GZY21LH22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of 0.1 pence each in Ariana Resources plc
ISIN GB00B085SD50
Nature of the transaction
Award of new ordinary shares as described above pursuant to Bonus
c)
Price(s) and volumes(s)
| Price(s) | Volumes(s) |
| 1.25 pence | 3,752,000 |
| 1.25 pence | 2,680,000 |
| 1.25 pence | 804,000 |
| 1.25 pence | 804,000 |
d)
Aggregated information
n/a
e)
Date of the transaction
20 December 2017
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
(b)
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Kerim Sener
Michael deVilliers
William Payne
Chris Sangster
2
Reason for notification
a)
Position / status
Director
Director
Director
Director
b)
Initial notification
/Amendment
Initial
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Ariana Resources plc
b)
LEI
213800LVVY7GZY21LH22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Options over Ordinary shares of 0.1 pence each in Ariana Resources plc
ISIN GB00B085SD50
Nature of the transaction
Grant of options as described above under the New Scheme
c)
Price(s) and volumes(s)
| Price(s) | Volumes(s) |
| 1.55 pence | 19,000,000 |
| 1.55 pence | 17,000,000 |
| 1.55 pence | 4,000,000 |
| 1.55 pence | 4,000,000 |
d)
Aggregated information
n/a
e)
Date of the transaction
20 December 2017
f)
Place of the transaction
London Stock Exchange, AIM (XLON)
This information is provided by RNS
The company news service from the London Stock Exchange
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