Ariana Resources PLC Director/PDMR Shareholding (8100P)

TIDMAAU

RNS Number : 8100P

Ariana Resources PLC

22 February 2021

22 February 2021

AIM: AAU

Director/PDMR Shareholdings

Director Increases Shareholding following Exercise of Options

Total Voting Rights

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, announces that it has been informed of the following transactions:

-- on 19 February 2021, Dr. Kerim Sener, Managing Director, exercised vested options pursuant to the Ariana Resources PLC 2018 Share Option Plan. Dr. Sener exercised options over 6,000,000 new ordinary shares in the Company ("Ordinary Shares") at the price of 1.55p per share. Application will be made for the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM on or around 5 March 2021 ("Admission");

-- on 19 February 2021, Dr. Sener disposed of a total of 1,000,000 Ordinary Shares at 4.50p per share;

-- and, on 18 February 2021, Dr. Sener disposed of a total of 4,000,000 Ordinary Shares at 4.56p per share;

Accordingly, Dr. Sener has increased his personal holding by 1,000,000 Ordinary Shares. Dr. Sener now has interests in 20,093,526 Ordinary Shares in the Company, representing a holding of 1.86% of the enlarged issued share capital after the exercise of options referred to above.

Total Voting Rights

The Company's issued share capital will, from Admission, consist of 1,081,677,943 ordinary shares with a nominal value of 0.1p 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 is 1,081,677,943 .

The above figure of 1,081,677,943 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation.

Ahmet Kerim Sener

 
 1    Details of t he p erson disc harging managerial responsib 
       ilities / p erson closely associated 
 a)   Name                        Ahmet Kerim Sener 
     --------------------------  ------------------------------------------------------ 
 2    Reason for notification 
     ---------------------------------------------------------------------------------- 
 a)   Position / status           Managing Director 
     --------------------------  ------------------------------------------------------ 
 b)   I nitial notification       Initial 
       /Amendment 
     --------------------------  ------------------------------------------------------ 
 3    Details of t he issu er, emission allow a n ce m a r 
       k et participan t, au ct ion plat for m, au ction eer 
       or auc tion monitor 
     ---------------------------------------------------------------------------------- 
 a)   Name                        Ariana Resources plc 
     --------------------------  ------------------------------------------------------ 
 b)   LEI                         213800LVVY7GZY21LH22 
     --------------------------  ------------------------------------------------------ 
 4    Details of t he t ransact ion (s): section to be re 
       p eated for ( i) e a ch type of instr u m e n t; (ii) 
       each type of transac tion; (iii) each date; and ( iv) 
       each place w h ere transactions have b een condu cted 
     ---------------------------------------------------------------------------------- 
 a)   Description of the          Ordinary shares of 0.1 pence each 
       financial instrument,       in Ariana Resources plc 
       t ype of instrument 
 
       I d e ntification           ISIN GB00B085SD50 
       code 
     --------------------------  ------------------------------------------------------ 
      Nature of the transaction 
                                               *    Exercise of options by Dr Sener 
 
 
                                               *    Sale of ordinary shares by Dr Sener 
 
 
                                               *    Sale of ordinary shares by Dr Sener 
     --------------------------  ------------------------------------------------------ 
 c)   Price(s) and volumes(s)       Price(s)   Volumes(s) 
                                     1.55p      6,000,000 
                                               ----------- 
                                     4.50p      1,000,000 
                                               ----------- 
                                     4.56p      4,000,000 
                                               ----------- 
     --------------------------  ------------------------------------------------------ 
 d)   Aggregated information      n/a 
     --------------------------  ------------------------------------------------------ 
 e)   Date of the transaction     19 February 2021 
                                   19 February 2021 
                                   18 February 2021 
     --------------------------  ------------------------------------------------------ 
 f)   Place of the transaction    LSX 
     --------------------------  ------------------------------------------------------ 
 

Contacts:

 
 Ariana Resources plc                 Tel: [phone] 
 Michael de Villiers, Chairman 
 Kerim Sener, Managing Director 
 
 Beaumont Cornish Limited             Tel: [phone] 
 Roland Cornish / Felicity Geidt 
 
 Panmure Gordon (UK) Limited          Tel: [phone] 
 John Prior / Hugh Rich / Atholl 
  Tweedie 
 
 Yellow Jersey PR Limited             Tel: [phone] 
 Dom Barretto / Joe Burgess / Henry   [e-mail] 
  Wilkinson 
 

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold exploration, development and production in Turkey and copper-gold exploration and development projects in Cyprus.

The Company holds a 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Özaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 227,000 ounces gold and 0.7 million ounces silver (as at April 2020). The mine has been in profitable production since 2017 and is expected to produce at a rate of c. 20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Project is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 3.7 million ounces silver (as at June 2020). The project is being progressed through permitting and an Environmental Impact Assessment, with the intention of developing the site to become the joint venture's second gold mining operation. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million-ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects, including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to 16%. Venus is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Inferred Resource of 9.5Mt @ 0.65% copper (excluding additional gold, silver and zinc).

Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.

For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com .

Ends.

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February 22, 2021 02:00 ET (07:00 GMT)