Ariana Resources has court dates in June for proposed share capital reduction

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Ariana Resources PLC (LON:AAU) said it has court dates in June for its proposed share capital reduction.

The exploration and development company said it has been notified that court dates have been fixed for early and late June and it will provide an update to the market, including detail of its future dividend policy, in early July.

“With court dates now set for June, we look forward to providing the market with an update on this process and the company’s future dividend policy as soon as we are able, which I expect will be in early July,” said managing director Dr Kerim Sener.

“We remain confident that the proceedings will complete as intended and will notify the market of any significant developments as and when they occur,” he said.

The proposed capital reorganisation, announced February 8, will enable the company to pay a special dividend following completion of the joint venture with Özaltin Holding and Proccea Construction Co.

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