Ariana Resources PLC Equity and options issue, Directors' dealings, TVR (0023A)

TIDMAAU

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      Number of          Total           % of issued      % of enlarged 
                  of Bonus    options granted    shareholding    share capital    share capital 
                  Shares 
                  awarded 
--------------  ----------  -----------------  --------------  ---------------  --------------- 
 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      Initial 
       /Amendment 
---  ------------------------  ----------------------------- 
 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            Ordinary shares of 0.1 pence 
       the financial             each in Ariana Resources 
       instrument, type          plc 
       of instrument 
 
       Identification            ISIN GB00B085SD50 
       code 
---  ------------------------  ----------------------------- 
      Nature of the             Award of new ordinary shares 
       transaction               as described above pursuant 
                                 to Bonus 
---  ------------------------  ----------------------------- 
 c)   Price(s) and                Price(s)      Volumes(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              London Stock Exchange, AIM 
       transaction               (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      Initial 
       /Amendment 
---  ------------------------  ------------------------------ 
 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            Options over Ordinary shares 
       the financial             of 0.1 pence each in Ariana 
       instrument, type          Resources plc 
       of instrument 
 
       Identification            ISIN GB00B085SD50 
       code 
---  ------------------------  ------------------------------ 
      Nature of the             Grant of options as described 
       transaction               above under the New Scheme 
---  ------------------------  ------------------------------ 
 c)   Price(s) and                Price(s)      Volumes(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              London Stock Exchange, AIM 
       transaction               (XLON) 
---  ------------------------  ------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 21, 2017 02:00 ET (07:00 GMT)