22nd Jul 2016 13:55
LONDON (Alliance News) - Ariana Resources PLC on Friday said it has raised GBP445,000 to back its current drilling programme at the Kiziltepe area of the Red Rabbit gold and silver project in western Turkey.
Ariana has issued 29.6 million shares at 1.5 pence per share and said the fundraising has been supported by existing and new investors. Shares in the company were down 5.9% to 1.53p Friday.
Ariana said Managing Director Kerim Sener, Executive Chairman Michael de Villiers and Chief Financial Officer William Payne have agreed to subscribe for a total of 2.1 million of the shares being issued.
Later on Friday, Ariana detailed how many shares each director had bought. De Villiers bought 1.1 million shares, taking his total holding to 26.1 million shares or a 3.1% stake.
Sener bought 666,667 shares, taking his holding to 13.1 million shares or a 1.6% stake, while Payne bought 333,333 shares, taking his holding to 4.8 million shares or a 0.6% stake.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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