Ariana Resources Share Discussion Threads

[actonovator] 24/8/2020 08:10

mood music seems to have changed here - probability seems to be tipping to another extension

[kaos3] 24/8/2020 07:48

spill the beans - how about that

[jc2706] 24/8/2020 07:14

It is human nature to fill an information vacuum. If a delay is not explained, speculation will provide the necessary reasons, no matter how ill informed.

[bigglesbingham] 23/8/2020 20:52

I think the Proccea buy in is a major part of the deal. The fact that it started by a services buy in then some cash etc seams to be an issue by who? No clue

[nov31] 23/8/2020 18:15

Highly speculative and no doubt wrong, but I wonder if any of the delay in finalising the deal is down to Proccea wanting to fund/find their buy in stake for Salinabas from free cash flow and dividends from the joint company rather than having to dip into their pockets? A few months delay would give them quite a bit of what they need.

[thanksamillion] 21/8/2020 21:38

Duplicate - edited

[thanksamillion] 21/8/2020 21:38

Mid July-August share price chart is very very very similar to mid March-end-April's, may it continue to be so sez I.

[charles clore] 21/8/2020 21:27

I would really like to think that we will be better off by the end of next week than we are today. By rights the price should already be twice the current level. Keep the faith lth

[plasybryn] 21/8/2020 18:21

And AGM on Friday 28th plus Deal news by end of August. So busy week ahead of us.

[bigglesbingham] 21/8/2020 17:48

Expecting quarterlies early next week

[1candc] 21/8/2020 17:24

A large seller is still plaguing the SP, it's one step forward, two steps back at the moment, disappointing when you consider all the imminent news and developments.
Afterthought - I wonder if it's our old mate NS paring down his holding as he so often states he will do or has done.

[cyberbub] 21/8/2020 17:09

Bit disappointing share price action this week, considering that the POG is only a tick down on the week?

[jc2706] 21/8/2020 12:30

I wasn't familiar with the "old Norma" so the "new Norma" will just be Norma to me!

[plasybryn] 21/8/2020 12:20

It's to do with the need to reflect the requirements of the pandemic- "the new Norma " - non attendance AGM's and or special GM's etc I understand. Perhaps the deal would normal be discussed & voted on in a Extraordinary General Meeting. Not possible at the moment.

[konil] 21/8/2020 11:53

is this standard practice?

"8.That the Company’s Articles of Association be replaced in their entirety with the draft new Articles of Association which have been uploaded to the Company’s website at hxxps://arianaresources.com/investors/aim-rule-26.By Order of the Board dated 27 July 2020.Notice of the 2020 Annual General Meeting of Ariana Resources PLCCompany Number: 05403426"

[thanksamillion] 21/8/2020 11:38

6,7,8 look pretty standard to me, buying into any share has risks which we all sign up to, these powers should be available to any Board, not just AAU, in case they have need when reacting to unexpected events.

So agreement between parties expected by end August, our vote to come later.

[dixi] 21/8/2020 11:25

Agree as carcosa states as far as I am concerned, but confirmation of details 'expected' to be by the end August as per last info from AAU.....

"This transaction will crystallise significant value for the Company and substantially de-risks the deliverability of the Salinbas Project, at an important time in its development. Accordingly, we fully expect shareholders to support the transaction, definitive agreements for which are expected to be concluded by the end of August 2020."

[thanksamillion] 21/8/2020 11:25

FINANCIAL REPORT74ARIANA RESOURCES PLC - ANNUAL REPORT & ACCOUNTS 2019
Notice is hereby given that the Annual General Meeting of Ariana Resources PLC (the “Company”;) will be held at the 2nd Floor, Regis House, 45 King William Street, London, EC4R 9AN on 28 August 2020 at 12.00 noon in order to consider and, if thought fit, pass resolutions 1 to 6 as Ordinary Resolutions and Resolutions 7 and 8 as a Special Resolutions:Ordinary resolutions
1.To receive the Annual Report and Accounts for the year ended 31 December 2019.
2.To re-elect Chris Sangster who is retiring pursuant to Article 27.1.2 of the Articles of Association as a Director of the Company.
3.To re-elect Dr Kerim Sener who is retiring pursuant to Article 27.1.2 of the Articles of Association as a Director of the Company
4.To re-elect William Payne who is retiring pursuant to Article 27.1.3 of the Articles of Association as a Director of the Company.
5.To re-appoint PKF Littlejohn LLP as auditors and to authorise the Directors to fix their remuneration.
6.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 in the capital of the Company (“Ordinary Shares”) up to an aggregate nominal amount of £250,000 in connection with an offer by way of a rights issue:i.to holders of Ordinary Shares in proportion (as nearly as may be practicable) to their respective holdings; andii.to holders of other equity securities as required by the rights of those securities or as the directors otherwise consider necessary, but subject to such exclusions or other arrangements as the directors may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates, legal or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange; andb.in any other case, up to an aggregate nominal amount of £250,000.Provided that this authority shall, unless renewed, varied or revoked by the Company, expire on the date which is 15 months after the date on which this resolution is passed or, if earlier, the date of the next annual general meeting of the Company save that the Company may, before such expiry, make offers or agreements which would or might require Relevant Securities to be allotted and the directors may allot Relevant Securities in pursuance of such offer or agreement notwithstanding that the authority conferred by this resolution has expired.This resolution revokes and replaces all unexercised authorities previously granted to the directors to allot Relevant Securities but without prejudice to any allotment of shares or grant of rights already made, offered or agreed to be made pursuant to such authorities.Special resolutions
7.That, subject to the passing of Resolution 6 the Directors be given the general power to allot equity securities (as defined by Section 560 of the 2006 Act) for cash, either pursuant to the authority conferred by Resolution 6 or by way of a sale of treasury shares, as if Section 561(1) of the 2006 Act did not apply to any such allotment, provided that this power shall be limited to:a.the allotment of equity securities in connection with an offer by way of a rights issue:i.to the holders of ordinary shares in proportion (as nearly as may be practicable) to their respective holdings; andii.to holders of other equity securities as required by the rights of those securities or as the Directors otherwise consider necessary, but subject to such exclusions or other arrangements as the Board may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates, legal or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange; andb.the allotment (otherwise than pursuant to paragraph 6a above) of equity securities up to an aggregate nominal amount of £250,000.The power granted by this resolution will unless renewed, varied or revoked by the Company, expire at the conclusion of the next Annual General Meeting of the Company following the date of the passing of this resolution or (if earlier) 15 months from the date of passing this resolution, save that the Company may, before such expiry make offers or agreements which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of any such offer or agreement notwithstanding that the power conferred by this resolution has expired.This resolution revokes and replaces all unexercised powers previously granted to the Directors to allot equity securities as if section 561(1) of the 2006 Act did not apply, but without prejudice to any allotment of equity securities already made or agreed to be made pursuant to such authorities.
8.That the Company’s Articles of Association be replaced in their entirety with the draft new Articles of Association which have been uploaded to the Company’s website at hxxps://arianaresources.com/investors/aim-rule-26.By Order of the Board dated 27 July 2020.Notice of the 2020 Annual General Meeting of Ariana Resources PLCCompany Number: 05403426

[carcosa] 21/8/2020 11:19

As I have posted before... End of August is just a target date to get the definitive contracts arranged. Will need corporate changes to be completed e.g. subsidiary company changes, then all parties would need internal final sign-offs including AAU via a shareholder vote which would take 6 weeks. Thereafter a couple of weeks to get it all signed up and dividend payment likely in Q1 2021. Highly unlikely any new significant facts would be provided about the deal that has not already been indicated by the MoU. All of this Kerim has provided via RNS and video interviews.

So a signed deal confirmation around October/November.

AGM is next week so perhaps an opportunity to update the market then.

[paul280i] 21/8/2020 11:16

AIM also has the benefit of no stamp duty on purchase of shares. I must have saved a few pounds transferring to my ISA.

[pedr01] 21/8/2020 10:49

Have I missed something ??? Any chance of a link to these resolutions ???

[konil] 21/8/2020 10:17

bb, good point about aim iht benefits. and lol about 'not planning to die', me neither! but as you say, who knows.

what is your view about the agm resolutions 6, 7 and 8 put to the shareholders? seems unnervingly as though the company is undergoing (or will shortly) a big corporate change? any ideas?