Chaarat Gold Holdings Ltd Placing to raise GBP165,500 (6573A)
December 24 2014 - 2:00AM
UK Regulatory
TIDMCGH
RNS Number : 6573A
Chaarat Gold Holdings Ltd
24 December 2014
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Placing to raise GBP 165,500
Road Town, Tortola, British Virgin Islands (24 December
2014).
Chaarat (AIM:CGH) is pleased to announce that it has raised GBP
163,500 (USD 255,060) through the issue of 1,090,000 new ordinary
shares (the "Ordinary Shares") of USD 0.01 each in the capital of
the Company (the "Placing Shares") at a price of GBP 0.15 (USD
0.234) per share (the "Placing Price") to certain long-standing
shareholders of Chaarat (the "Placees") ("the Placing"). In
addition, three year warrants have been issued to the Placees to
subscribe for one Ordinary Share per Placing Share at the Placing
Price.
On 18 December 2014 Chaarat announced a placing to raise USD 5
million (GBP 3,205,128) through the issue of 21,367,521 Placing
Shares to Fasanara Capital Credit Strategies Fund, following which
a number of long standing shareholders expressed an interest in
investing in the Company on the same terms.
The Placees include the Chairman of Chaarat, who as a trustee of
the Christopher Palmer-Tomkinson 2012 Trust, has participated in
the Placing by subscribing for 175,000 Placing Shares. Following
the issue and allotment of the Placing Shares, Christopher
Palmer-Tomkinson holds a beneficial interest of 6,275,000 Ordinary
Shares, representing 2.30% of Chaarat's issued share capital.
Dekel Golan, CEO of Chaarat, comments: "We are pleased with this
further investment and very appreciative of the continued support
of our shareholders. The management team will continue to work hard
to justify this support and realise the potential of the Chaarat
Project."
Further information
The completion of the Transaction is conditional, inter alia,
upon admission of the Placing Shares to trading on the AIM market
of the London Stock Exchange ("Admission"). The Company will apply
for Admission and it is expected that Admission will take place on
or around 31 December 2014.
The Placing Shares have been issued and allotted to the Placees
credited as fully paid and will rank pari passu with the existing
Ordinary Shares.
Following Admission, the Company's existing issued share capital
will increase from 271,845,389 Ordinary Shares to 272,935,389
Ordinary Shares (the "Enlarged Share Capital"). As such the total
number of voting rights which will be attached to the Enlarged
Share Capital, on the basis of one vote per Ordinary Share, will be
272,935,389 (the "Total Voting Rights").
The Total Voting Rights figure may be used by shareholders as
the denominator for any calculation by which they will determine
whether or not they are required to notify their interests in, or a
change to their interest in, the issued share capital of the
Company.
China Nonferrous Metals International Mining Co Ltd
("CNMIM")
Chaarat is required to give notice to CNMIM if it intends to
issue any Chaarat shares for cash or non- cash consideration. CNMIM
may within 15 business days of receipt of such notice being issued
in connection with the Placing give written notice to require
Chaarat to issue such number of Chaarat shares to CNMIM on the same
terms as the Placing Shares, as is necessary to maintain the
percentage shareholding of CNMIM in the Company prior to completion
of the Placing. The required notice in respect of the issue of the
Placing Shares will be sent to CNMIM and a further announcement
made, if appropriate.
Prior to the issue and allotment of the Placing Shares to the
Placees, CNMIM held 22,469,289 Ordinary Shares representing 8.27%
of the issued share capital of Chaarat.
Enquiries:
Chaarat Gold Holdings
Limited + 44 23 800 11747
c/o Central Asia Services info@chaarat.com
Limited
Dekel Golan CEO
Linda Naylor FD
Numis Securities Limited +44 (0) 20 7260 1000
John Prior, Paul Gillam
(NOMAD)
James Black (Broker)
NOTES TO EDITORS:
About Chaarat Gold
Chaarat Gold is an exploration and development company operating
in the Kyrgyz Republic with a large, high grade resource - the
Chaarat Gold Project. The Company's key objective is to become a
low cost gold producer generating significant production from the
development of the Chaarat Gold Project. Chaarat is preparing a
Definitive Feasibility Study and continuing its active community
engagement programme to optimise the value of the Chaarat
investment proposition.
Chaarat aims to create value for its shareholders, employees and
communities from its high quality gold and mineral deposits in the
Kyrgyz Republic by building relationships based on trust and
operating to the best environmental, social and employment
standards.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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