Dual Listing on ASX and Total Voting Rights
Ariana Resources PLC has been admitted to the Australian Securities Exchange (ASX), with Chess Depositary Interests (CDIs) commencing trading under the ticker "AA2" on September 10, 2025. Each CDI represents 10 shares. The issue of the CDIs represents 394,427,760 new Ordinary Shares at an effective price of 1.34p per share, representing approximately 16.87% of the enlarged issued share capital. The company intends to allocate A$2.5 million to drilling at the Dokwe Project and A$1 million for a feasibility study there. A$0.4 million is allocated to the Slivova Gold-Silver Project and another A$0.4 million for the Western Tethyan Alliance. The company has also paid US$1,266,780.82 towards the RiverFort Facility, with US$1 million outstanding.
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Total Voting Rights
Ariana Resources plc (AIM: AAU, ASX: AA2, "Ariana" or the "Company"), the mineral exploration, development and production company with gold project interests in Africa and Europe, is pleased to confirm that the Company has today been admitted to the Official List of the Australian Securities Exchange ("ASX").
Chess Depositary Interests over the Company's ordinary shares ("CDIs") will commence trading on ASX under the ticker "AA2" at 12:00PM AEST on Wednesday, 10 September 2025. Each CDI represents 10 shares in the capital of the Company. The issue of the CDIs will represent 394,427,760 new Ordinary Shares of 0.1 pence each in the capital of the Company ("New Ordinary Shares") at an effective price of 1.34p (based on an exchange rate of £1.00=A$2.07) per New Ordinary Share which on issue will represent approximately 16.87% of the enlarged issued share capital of the Company.
Application will be made for the New Ordinary Shares which on issue will rank pari passu in all respects with the existing Ordinary Shares in issue to be admitted to trading on AIM ("Admission") and Admission is now expected to become effective on 10 September 2025.
The Company's shares will continue to trade on the AIM market ("AIM") of the London Stock Exchange under the ticker "AAU".
In satisfaction of the pre-quotation disclosure announcements on ASX, various announcements have been released on the Company's ASX market platform ("Pre-Quotation Disclosure Announcements"). The Pre-Quotation Disclosure Announcements, including the Company's ASX corporate governance statement are available on the ASX website via www.asx.com.au/markets/company/AA2 and also on the Company's website under https://www.arianaresources.com/investors/regulatory-news. The material information included within the Pre-Quotation Disclosure Announcements is extracted below.
Where an amount is expressed as in A$ and £, or A$ and US$ the conversions are based on the following indicative exchanges rate of £1.00 = A$2.07, and £1.00 = US$1.35, respectively.
Proposed Exploration Programme and Development Plan
Set out below is a further breakdown of the Company's proposed exploration programme and development plan over the first 12 months following admission to the ASX ("Admission") with the amounts shown in A$ and £:
PROPOSED EXPLORATION PROGRAMME AND DEVELOPMENT PLAN (A$)
| PHASE | ACTIVITY | ZIMBABWE | KOSOVO (SLIVOVA) | CYPRUS | TOTAL | |||
|---|---|---|---|---|---|---|---|---|
| DOKWE NORTH | DOKWE CENTRAL | REGIONAL | TOTAL | |||||
| Target Generation | Research | - | - | - | - | - | 10,000 | 10,000 |
| Geological mapping | - | - | - | - | - | 5,000 | 5,000 | |
| Geochemical surveys | - | - | - | - | - | 20,000 | 20,000 | |
| Geophysics | - | - | - | - | - | 20,000 | 20,000 | |
| SUB-TOTAL | - | - | - | - | - | 55,000 | 55,000 | |
| Drill Programmes | RC Drilling | 300,000 | 150,000 | 50,000 | 500,000 | - | - | 500,000 |
| Diamond Drilling | 1,250,000 | 750,000 | - | 2,000,000 | - | - | 2,000,000 | |
| SUB-TOTAL | 1,550,000 | 900,000 | 50,000 | 2,500,000 | - | - | 2,500,000 | |
| FS Studies | 700,000 | 300,000 | - | 1,000,000 | 200,000 | 125,000 | 1,325,000 | |
| EIA | - | - | - | - | 200,000 | 20,000 | 220,000 | |
| SUB-TOTAL | 700,000 | 300,000 | - | 1,000,000 | 400,000 | 145,000 | 1,545,000 | |
| TOTAL | 2,250,000 | 1,200,000 | 50,000 | 3,500,000 | 400,000 | 200,000 | 4,100,000 | |
| PROPOSED EXPLORATION PROGRAMME AND DEVELOPMENT PLAN (£) | ||||||||
| PHASE | ACTIVITY | ZIMBABWE | KOSOVO (SLIVOVA) | CYPRUS | TOTAL | |||
| DOKWE NORTH | DOKWE CENTRAL | REGIONAL | TOTAL | |||||
| Target Generation | Research | - | - | - | - | - | 4,831 | 4,831 |
| Geological mapping | - | - | - | - | - | 2,415 | 2,415 | |
| Geochemical surveys | - | - | - | - | - | 9,662 | 9,662 | |
| Geophysics | - | - | - | - | - | 9,662 | 9,662 | |
| SUB-TOTAL | - | - | - | - | - | 26,570 | 26,570 | |
| Drill Programmes | RC Drilling | 144,928 | 72,464 | 24,155 | 241,546 | - | - | 241,546 |
| Diamond Drilling | 603,865 | 362,319 | - | 966,184 | - | - | 966,184 | |
| SUB-TOTAL | 748,792 | 434,783 | 24,155 | 1,207,729 | - | - | 1,207,729 | |
| FS Studies | 338,164 | 144,928 | - | 483,092 | 96,618 | 60,386 | 640,097 | |
| EIA | - | - | - | - | 96,618 | 9,662 | 106,280 | |
| SUB-TOTAL | 338,164 | 144,928 | - | 483,092 | 193,237 | 70,048 | 746,377 | |
| TOTAL | 1,086,957 | 579,710 | 24,155 | 1,690,821 | 193,237 | 96,618 | 1,980,676 | |
The above tables are a statement of current intentions as of the date of this announcement. As with any budget, intervening events (including exploration success or failure) and new circumstances have the potential to affect the manner in which funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.
RiverFort Facility
The Company confirms that it has paid US$1,266,780.82 (£938,716.26) as a partial repayment under the RiverFort Facility, with US$1 million (£741,025) outstanding. The outstanding amount (including interest) will be either repaid in cash in full in accordance with the repayment schedule (as contemplated by the above use of funds table) or converted into Shares or CDIs in accordance with the conversion rights under the RiverFort Facility.
Use of Funds
The Company intends to apply funds raised from the capital raising conducted as part of the dual-listing on the ASX ("ASX Offer"), together with existing cash reserves post-Admission, but excluding funds expected to be delivered from its Turkish operations, over the first year following Admission as follows:
| FUNDS AVAILABLE | A$ | £ | % |
|---|---|---|---|
| Existing cash reserves | 0.4 | 0.2 | 3.5% |
| Funds raised from the ASX Offer | 11.0 | 5.3 | 96.5% |
| Total | 11.4 | 5.5 | 100.0% |
| ALLOCATION OF FUNDS | |||
| Feasibility Study: Dokwe Project | 1.0 | 0.5 | 8.8% |
| Drilling Programme: Dokwe Project | 2.5 | 1.2 | 21.9% |
| Slivova Gold-Silver Project 1 | 0.4 | 0.2 | 3.5% |
| Funding of Western Tethyan Alliance 2 | 0.4 | 0.2 | 3.5% |
| Funding of Venus Minerals | 0.2 | 0.1 | 1.8% |
| Part repayment of RiverFort Facility on or prior to Admission 3 | 1.9 | 0.9 | 16.7% |
| Part repayment of RiverFort Facility in the 12 months following Admission 3 | 1.5 | 0.7 | 13.2% |
| Working capital and corporate administrative costs 4,5 | 2.0 | 1 | 17.5% |
| Expenses of the ASX Offer | 1.5 | 0.7 | 13.2% |
| Total | 11.4 | 5.5 | 100.0% |
Notes:
- Assumes the new exploration licence on the Slivova Gold-Silver Project is granted following application in May 2025. If the exploration licence is not granted, these funds will be applied towards granted tenure.
- Funds will be applied towards future projects under the Newmont Alliance.
- US$1 million (A$1.52 million) is outstanding under the RiverFort Facility at Admission. This assumes the outstanding amount and interest are repaid in cash in full in accordance with the repayment schedule, with no conversion of the outstanding amount into Shares or CDIs in accordance with conversion rights under the RiverFort Facility).
- This announcement assumes that the outstanding amount and interest of the RiverFort Facility will be paid down in part using funds raised from the ASX Offer, with the amount outstanding and all interest payable following Admission to be repaid in cash under a 13 month repayment schedule which applies from November 2025. RiverFort may elect to convert the outstanding monies under the RiverFort Facility into Shares or CDIs. If this occurs, the funds will be applied towards exploration and/or working capital.
- Administration costs include the general costs associated with the management and operation of the Company's business including administration expenses, management salaries, directors' fees, rent and other associated costs (estimated to be A$1.6 million).
- To the extent that:
- the Company's activities warrant further exploration; or
- the Company identifies additional acquisition or investment opportunities,
the Company's working capital will also be utilised to fund such further exploration activities and/or acquisition or investment costs (including due diligence investigations and expert's fees in relation to such acquisitions or investments) as applicable. Any amounts not so expended will be applied toward corporate and administration costs for the period subsequent to the initial 12 month period following Admission.
The above table is a statement of current intentions as of the date of this announcement. Investors should note that, as with any budget, the allocation of the funds may change depending on various intervening events and new circumstances, including the outcome of exploration activities (including, exploration success or failure), regulatory developments and market and general economic conditions. Accordingly, the Board reserves the right to alter the way funds are applied on this basis.
Capital Structure
The Company's capital structure as at the date of Admission is as follows:
| Security | Number |
|---|---|
| Shares | 2,338,378,041 |
| CDIs quoted on ASX | 39,686,589 (the underlying Shares are also included in the row above) |
| Share Options currently on issue | 25,000,000 |
| CDI Options currently on issue | 4,444,444 |
Restricted Securities
The following securities will be subject to restriction pursuant to the ASX Listing Rules for the period outlined below.
| Security | Number | Restriction Period |
|---|---|---|
| Shares | 393,806,472 | 24 months from the date of quotation |
| CDIs (including the Shares underlying the CDIs which are not included in the row above) | 400,875 | 24 months from the date of quotation |
| Existing Options (including any Shares/CDIs issued on exercise) | 25,000,000 | Until 12 November 2025 |
| Lead Manager CDI Options (including any Shares/CDIs issued on exercise) | 4,444,444 | 24 months from the date of quotation |
Total Voting Rights
Upon Admission of the New Ordinary Shares, the Company's issued Ordinary Share capital will consist of 2,338,378,041 Ordinary Shares (including Ordinary Shares underlying the CDIs) with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission, the total number of Ordinary Shares (including Ordinary Shares underlying the CDIs) and voting rights in the Company will be 2,338,378,041. With effect from Admission, this figure 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 Company under the FCA's Disclosure Guidance and Transparency Rules.The Board of Ariana has approved this announcement and authorised its release.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.