Director/PDMR Shareholding

RNS Number : 1040I

Ariana Resources PLC

09 December 2020

 

09 December 2020

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 08 December 2020, 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 will all existing Ordinary Shares, to be admitted to trading on AIM on or around 22 December 2020 ("Admission");

· on 08 December 2020, Dr. Sener disposed of a total of 2,500,000 Ordinary Shares at 5.20p per share;

· and, on 07 December 2020, Dr. Sener disposed of a total of 2,500,000 Ordinary Shares at 5.20p per share;

Accordingly, Dr. Sener has increased his personal holding by 1,000,000 Ordinary Shares.  Dr. Sener now has interests in 18,985,526 Ordinary Shares in the Company, representing a holding of 1.76% 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 1,075,677,943 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 1,075,677,943 .

The above figure of 1,075,677,943 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 the  person  discharging  managerial  responsibilities  /  person  closely associated
a)	Name	Ahmet Kerim Sener
2	Reason for notification
a)	Position / status	Managing Director
b)	I nitial notification /Amendment	Initial
3	Detailsoftheissuer, emissionallowancemarketparticipant,auctionplatform, auctioneerorauctionmonitor
a)	Name	Ariana Resources plc
b)	LEI	213800LVVY7GZY21LH22
4	Detailsofthetransaction(s): sectiontoberepeatedfor(i)eachtypeofinstrument; (ii)eachtypeoftransaction;(iii)eachdate;and(iv)eachplace wheretransactions havebeenconducted
a)	Description  of  the financial instrument, type ofinstrument I d e ntification code	Ordinary shares of 0.1 pence each in Ariana Resources plc ISIN GB00B085SD50
	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) 1.55 pence 6,000,000 5.20 pence 2,500,000 5.20 pence 2,500,000
d)	Aggregated information	n/a
e)	Date of the transaction	8 December 2020 8 December 2020 7 December 2020
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 Wilkinson	[e-mail]

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe.  It has interests in gold production in Turkey and copper-gold assets in Cyprus.  The Company is developing a portfolio of prospective licences in Turkey, which contain a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). 

The Red Rabbit Project is comprised of the Company's flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co.  Both assets are located in western Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits.  The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production.  The total depleted resource inventory at the Project and its wider area is c. 500,000 ounces of gold equivalent (as at April 2020).  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation. At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The 100% owned Salinbas Gold Project is located in north-eastern Turkey and has a total resource inventory of c. 1.5 million ounces of gold.  The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within the multi-million ounce Artvin Goldfield.  The "Hot Gold Corridor" contains several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation on the Salinbas Gold Project.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to c. 12%.  Venus is focused on the exploration and development of copper-gold assets in Cyprus, which includes the Magellan Project on which a resource of 8.5Mt @ 0.63% Cu (+ Au, Ag, Zn) has been defined.

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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