Annual Report and Corporate Actions

PROPOSED CAPITAL REORGANISATION

PROPOSED NAME CHANGE TO TETHYAN RESOURCES PLC

PROPOSED CHANGE OF ACCOUNTING REFERENCE DATE

POSTING OF ANNUAL REPORT AND ACCOUNTS

Aurasian announces that it has today posted to shareholders copies of the Company’s Annual Report and Accounts for the year ended 31 March 2016 along with the Notice of Annual General Meeting (“AGM”) to be held on 20 July 2016 at 10:30 a.m. at the offices of finnCap Ltd, 60 New Broad Street, London, EC2M 1JJ. Copies of the Annual Report and Accounts and the Notice of AGM are available on the Company’s website.

Proposed Change of Name and Accounting Reference Date

Given the change in focus of Aurasian from South East Asia to the Balkans, the board has decided to change the Company’s name to “Tethyan Resources”. The Tethyan Mineral belt, extending from Myanmar through southern Pakistan and Iran into Turkey and Eastern Europe, is one of the world’s great volcanic, mineralised belts and it hosts numerous world class deposits. This belt runs through the middle of both Bulgaria and Serbia.

As well as reflecting the new direction of the Company, the proposed name change will also echo the considerable knowledge in the region of the Company’s directors and senior management, all of whom have had direct experience of working in the region over a number of years. Lydian’s 5 million ounce Amulsar gold deposit, which Tim Coughlin discovered in 2006, occurs within the Tethyan Mineral belt.

A resolution will be proposed at the AGM to reflect this name change and, if approved, it is proposed that the Company’s Tradable Instrument Display Mnemonic (“TIDM”) will be changed to TETH (from AUM).

The Company has also decided to change its accounting reference date from 31 March to 31 December to bring it in line with MML and the majority of corporate entities operating in the Balkan Region. Having made this change the Company’s reporting timetable going forward will be as follows:

 −   Full audited accounts for the 12 months ended 31 March 2016; published today

−    Unaudited interim results for the six months ending 30 September 2016; due by 31 December 2016

−    Full audited accounts for the nine months ending 31 December 2016; due by 30 June 2017;

−    Unaudited interim results for the six months ending 30 June 2017; due by 30 September 2017

Proposed Capital Reorganisation

Contained with the Notice of AGM are resolutions required to effect a reorganization of the Company’s share capital.

The Company’s shares currently trade at a share price of around 0.45p. This means that small absolute movements in the share price represent large movements in the Company’s market capitalization, resulting in increased share price volatility. Equally, the board notes that the number of currently issued shares stands at over 535 million which is too many for a company of Aurasian’s size. Accordingly, the board proposes to consolidate the shareholdings in the Company through a capital reorganization on the terms set out below.

It is proposed that every six existing ordinary shares of 0.001 pence each (“Existing Ordinary Shares”) will be consolidated into 1 new ordinary share of 0.006 pence each (“Consolidated Shares”). Unless a shareholding therefore equal or exceeds six Existing Ordinary Shares then shareholders will be left with a fractional entitlement to the resulting Consolidated Shares if the resolutions required in order to effect this capital reorganisation put to shareholders at the AGM are approved. Any fractions arising as a result of the consolidation, subject to the passing of such resolutions, will be aggregated and sold at the best price reasonably obtainable. The net proceeds of such sale shall be retained for the benefit of the Company.

If the Capital Reorganisation is approved the New Ordinary Shares will have a new Stock Exchange Daily Official code (SEDOL) which will be BYVFRB1  and a new International Securities Identification Number (ISIN) which will be GB00BYVFRB16. The new SEDOL and new ISIN shall become effective only if the Resolutions are passed at the Annual General Meeting.

The expected timetable for this proposed name change and capital reorganisation is set out below:

Latest time and date for receipt of Proxy Forms

 

      10.30 a.m. on 18 July 2016

Annual General Meeting

 

      10.30 a.m. on 20 July 2016

Name Change Effective

 

        6.00 p.m. on 21 July 2016

Record Date for Capital Reorganisation

 

        6.00 p.m. on 20 July 2016

Existing Ordinary Shares disabled in CREST and share register closed

 

         7.00 am. on 21 July 2016

Admission effective and dealings commence on AIM in New Ordinary  Shares

 

         8.00 am. on 21 July 2016

CREST accounts credited with New Ordinary Shares

 

         9.00 am. on 21 July 2016

Share certificates in respect of  New Ordinary Shares dispatched

 

                            4 August 2016

ISIN of  New Ordinary Shares

 

SEDOL of New Ordinary Shares                                                                                                                             

 

                            B00BYVFRB16

 

                                     BYVFRB1

For further information please contact:

Aurasian Minerals Plc

Peter Mullens (CEO)                                                                      pjm@aurasianminerals.com

finnCap Limited – Nominated adviser

Christopher Raggett / Scott Mathieson                                  +44 (0)20 7220 0500