Ariana Resources Share Discussion Threads

[shortarm] 28/7/2022 15:12

Soul, Eat all, sup all, pay nowt!See all, hear all pay nowt!And if tha ever does owt for nowt, do it for thi sen!

[shortarm] 28/7/2022 15:11

Short arms? That be me!

[soulsauce] 28/7/2022 14:51

I can't believe I am saying this as I am from Yorkshire, the land of the short arms and deep pockets.
But forgive me Charles don't you own several million shares here now?
£20 doesn't seem a lot to register that amount of votes if you are against anything or for for that matter.

[charles clore] 28/7/2022 14:20

My broker wants £20 + vat to register my votes so I'll be abstaining this time.

[konil] 28/7/2022 13:35

depends on your broker i guess if held through nominee. my deadline is 9am 4th aug.

[soulsauce] 28/7/2022 13:28

12 noon 8th Aug I believe D1G3Y.

[d1g3y] 28/7/2022 13:22

Not had a chance to look yet when is the deadline to register votes?

[konil] 28/7/2022 12:20

same here, also no to 8 for me.

[soulsauce] 28/7/2022 12:16

Yes I see how you can think that so may be I am wrong. Anyhow I have voted against 3,6 & 7.

[konil] 28/7/2022 12:12

soul, from the agm notice

"That the directors be generally and unconditionally authorised to allot Relevant Securities (as defined in the notes to this Notice) up to a maximum nominal amount of £500,000 comprising:
a. equity securities (as defined by section 560 of the Companies Act 2016) of ordinary shares of 0.1p each"

each share is nominally 0.1p each, so 1000 shares nominal value = £1.00. so i reckon that gives them authority to issue 500m new shares.



thanksamillion, yes, quite normal as you say, and i dont for a moment think my vote will make any difference (unless by some coincidence majority of shareholders vote similarly) but its a protest vote given my discontent with management comms.

[thanksamillion] 28/7/2022 11:29

Same thing soul, ordinary shares at 0.1p each.

£250k to existing shareholders via rights, £250k to anyone else and remember thats nominal amount not related to current share price.

These powers are quite normal and usually reserved to cover exceptional case of requirement for cash and not for any existing known need.

[thanksamillion] 28/7/2022 11:21

They final found the answer to the problem of incorrect information on the ariana website....its down.

[soulsauce] 28/7/2022 10:02

It's 500,000 pound as far as I can see konil unless I have read it wrong.

[konil] 28/7/2022 09:38

it seems resolutions 6 and 7 gives the management authority to issue upto 500m shares. with 1,142,863,330 shares in issue that would be a 43% dilution. in the circumstances with the company being cash rich and poor comms from management i have voted against.

egg on face if i have misinterpreted this but that's my current understanding.

thanks to xow for catalysing voting action from me, its not something i usually do.

[thanksamillion] 28/7/2022 09:27

Gold on the up.

[dixi] 27/7/2022 21:16

Still a potential 15x return if KS meets his target, it's all to play for. If this does come to pass nobody will give two hoots who the chairman is :-)

[bigglesbingham] 27/7/2022 12:13

Made YJ aware and they said they have rectified it. Yes it shouldn't have happened in first place .

[bigglesbingham] 27/7/2022 12:11

Let you off pal

[plasybryn] 27/7/2022 11:41

That should read Quote in my post. Sorry.

[konil] 27/7/2022 10:59

could someone please explain the impact of resolutions 6 and 7. tia.

[plasybryn] 27/7/2022 09:45

As I mentioned yesterday Michael has been Chairman since July 2013, (9 years) but a director since 2005. Quite:-The South African, who is also chief financial officer of Eurasia Mining (LON:EUA) moved into the chair at Ariana last week, succeeding Michael Spriggs. De Villiers has been a director of Ariana ever since it floated on AIM in 2005.

[plasybryn] 27/7/2022 09:41

Sorry to hear that. But August is never a good time. All the very best to you. My history of keeping the Board in order is about as effectual as Michael as Chairman I'm afraid.

[soulsauce] 27/7/2022 09:24

"However that would involve much management time in finding a suitable replacement, extra cost in that a significantly increased (extra) salary would need to be funded in the absence of options"

I am sure management have more than enough time to find a replacement given most things are now run by 3rd parties, although it might eat into Kerim's R&R in Aus and time spent with PNT.
Extra cost is worth it in that we will have a strengthened board that most of us have been wanting, and well worth it if it gives us better corporate governance.

[thanksamillion] 27/7/2022 09:13

dp.

I agree the guidance principles are as you say.

MDV come with extensive mining knowledge and I am sure KS will use him as a sounding board. Changing his role to Director would acknowledge his considerable shareholding and retain his knowledge and advice which I believe is of great benefit to the company and would be missed were he to leave the board. However that would involve much management time in finding a suitable replacement, extra cost in that a significantly increased (extra) salary would need to be funded in the absence of options.

At this point in time I would prefer that all the companies resources are focused on the tasks in hand.

[paul280i] 27/7/2022 09:06

Plas, I can't make the AGM this year, August is a busy month. I'll have to leave you to keep the BOD in order.