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Ariana – buyback whoopsie at 4.29pm, but a minor issue - blame Roland "fatty" Cornish. Strong hold.

By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 22 January 2019


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Oh dear. AIM-listed Ariana Resources has announced that the share buyback previously announced on 16 January 2019 – and which occurred on 4 January – when the company bought back 4.5 million shares into treasury was not allowed as the company didn’t have the distributable reserves available on the balance sheet. Red faces all round, but this is not a major issue.

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