26 June 2024
AIM: AAU
RESULT OF GENERAL MEETING
Ariana Resources plc ("Ariana" or "the Company"), the AIM-traded mineral exploration and development company with gold project interests in
Completion of the all-share merger of the Company and Rockover Holdings Limited ("Rockover") in accordance with the merger implementation agreement ("Merger") is expected to take place on 28 June 2024. Based on the merger ratio, the Company will issue 687,817,998 new ordinary shares of 0.1p each ("Ordinary Shares") (being the Merger Shares) to acquire all the Rockover shares not already owned by Asgard Metals Fund (a company 100% owned by Ariana).
On completion of the Merger, the Company will confirm the appointments of the new directors, Nicholas Graham and Andrew du Toit, containing the information required under the AIM Rules.
Application has as previously announced been made to the London Stock Exchange for the admission of the Merger Shares, which will rank pari passu with all existing Ordinary Shares, to trading on AIM ("Admission"). Admission is expected to occur and dealings are expected to commence in the Merger Shares at 8.00 a.m. on 28 June 2024.
Upon Admission, the Enlarged Issued Share Capital will be 1,834,181,328 Ordinary Shares.
The results of the poll put after the Meeting were as follows:
RESOLUTION |
VOTES FOR |
% |
VOTES AGAINST |
% |
VOTES TOTAL |
% of ISC VOTED |
VOTES WITHHELD |
1 |
298,256,487 |
70.27% |
126,157,417 |
29.73% |
424,413,904 |
37.02% |
126,685 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
Contacts:
Ariana Resources plc |
Tel: +44 (0) 20 3476 2080 |
Michael de Villiers, Chairman |
|
Kerim Sener, Managing Director |
|
Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 20 7628 3396 |
Roland Cornish / Felicity Geidt |
|
Panmure Gordon ( |
Tel: +44 (0) 20 7886 2500 |
Hugh Rich / Atholl Tweedie / Rauf Munir |
|
WHIreland Limited (Joint Broker) Harry Ansell / Katy Mitchell / George Krokos Yellow Jersey PR Limited (Financial PR) |
Tel: +44 (0) 207 2201666
Tel: +44 (0) 7983 521 488 |
Dom Barretto / Shivantha Thambirajah / |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Editors' Note:
About Ariana Resources:
Ariana is an AIM-listed mineral exploration and development company 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 production in Türkiye and copper-gold exploration and development projects in
The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Özaltin Holding A.S. and Proccea Construction Co. in Türkiye which contains a depleted total of c. 2.2 million ounces gold equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint venture comprises the Kiziltepe Mine and Tavsan mines and the Salinbas projects.
The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold and 3.3 million ounces silver (as at March 2024). The mine has been in profitable production since 2017 and has been producing at an average rate of c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.
The Tavsan Gold Mine is located in western Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1 million ounces silver (as at March 2024). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Türkiye and is currently in construction. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.
The Salinbas Gold Project is located in north-eastern Türkiye 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 owns 100% of
Ariana owns 75% of
Ariana owns 61% of
Panmure Gordon (
For further information on Ariana, you are invited to visit the Company's website at www.arianaresources.com.
Ends.
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