All shares accounted for27 Jun 2017 19:33
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company operating in Turkey, is pleased to announce that it has raised an aggregate amount of approximately £1.87 million by way of a placing (the "Placing") of 133,846,154 new Ordinary Shares (the "Placing Shares") and subscription (the "Subscription") of 10,030,770 new Ordinary Shares (the "Subscription Shares") at a price of 1.30 pence per Placing Share and Subscription Share (the "Issue Price").
The Subscription, which is also made within the Company's existing share authorities, is unconditional. In addition, certain of the Directors intend to invest an aggregate amount of approximately £130,000 on the same terms as the Subscription, including the Issue Price. A further announcement will be made once their participations have been completed.
Operationally, the ramp-up to full production capacity at Kiziltepe remains on track and is expected to be concluded by the end of June 2017, following which quarterly production reporting will commence and particularly once commercial production has been achieved.
Application will shortly be made for the 153,846,154 Placing Shares, Subscription Shares and the new Ordinary Shares anticipated to be issued to certain of the Directors, as detailed above, to be admitted to trading on AIM. Such shares will rank pari passu with all existing ordinary shares in the Company, and Admission is expected to take place on 23 June 2017.
At Admission, the Company's issued share capital will consist of 1,051,637,937 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 1,051,637,937.
Sign In
Follow the stocks
