Business
UPDATE ON CAPITAL REDUCTION PROCEEDINGS
UPDATE ON CAPITAL REDUCTION PROCEEDINGS.
About this update from Ariana Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4855B\n Ariana Resources PLC\n 10 June 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 10 June 2021\n \n \n AIM: AAU\n \n \n \n \n \n UPDATE ON CAPITAL REDUCTION PROCEEDINGS\n \n \n \n \n \n Ariana Resources plc (\"Ariana\" or \"the Company\"), the AIM-listed exploration and development company operating in Europe, is pleased to provide an update concerning the proposed reduction of share capital via a cancellation of the Company's share premium account, the cancellation of the deferred shares, and the authority for the Company to buy back shares, as detailed in the circular to shareholders (the \"Circular\") on 08 February 2021.\n \n \n The Company confirms that the first court hearing has completed as expected by the Board, and that it is now working towards the second hearing later in June. An update to the market, including detail of the Company's dividend policy, will be provided in early July.\n \n \n Dr. Kerim Sener, Managing Director, commented:\n \n \n \"We are pleased to announce that the first court hearing in relation to the Company's capital reduction has now completed as we had hoped. The second court date is set for late June, following which we intend to provide an update to the market on this process and the Company's dividend policy, which I expect will be in early July. \n \n \n \"We remain confident that the court proceedings will complete as intended and will notify the market of any significant developments as and when they occur.\"\n \n \n \n \n \n Contacts:\n \n \n \n \n \n \n \n \n Ariana Resources plc\n \n \n \n \n Tel: +44 (0) 20 7407 3616\n \n \n \n \n \n \n Michael de Villiers, Chairman\n \n \n \n \n \n \n \n \n \n \n \n \n \n Kerim Sener, Managing Director\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Beaumont Cornish Limited - \n \n \n Nominated Adviser and Broker\n \n \n \n \n \n Tel: +44 (0) 20 7628 3396\n \n \n \n \n \n \n Roland Cornish / Felicity Geidt\n \n \n \n \n \n \n \n \n \n \n \n \n \n Panmure Gordon (UK) Limited - Broker\n \n \n \n \n Tel: +44 (0) 20 7886 2500\n \n \n \n \n \n \n John Prior / Hugh Rich / Atholl Tweedie\n \n \n \n \n \n \n \n \n \n \n \n \n \n Yellow Jersey PR Limited - Public Relations\n \n \n \n \n Tel: +44 (0) 7951 402 336\n \n \n \n \n \n \n Dom Barretto...