Chaarat Gold Holdings Ltd Issue of shares, holding in Company & waiver grant (2371A)
January 20 2020 - 2:00AM
UK Regulatory
TIDMCGH
RNS Number : 2371A
Chaarat Gold Holdings Ltd
20 January 2020
20 January 2020
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Issuance of shares in Company, holding in Company and grant of
waiver
Issuance of shares in Company
Chaarat (AIM:CGH), the AIM-quoted gold mining company with
assets in the Kyrgyz Republic and Armenia, announces that it has
issued 1,341,525 ordinary shares of US$0.01 each ("New Ordinary
Shares"). These comprise:
- 516,525 New Ordinary Shares issued to satisfy outstanding fees
pursuant to a drawdown made by the Company on 29 March 2019 under a
loan agreement with Labro Investments Limited ("Labro") announced
by the Company on 14 December 2018 (the "Labro Loan Agreement")
(RNS number 5046K); and
- 825,000 New Ordinary Shares have been issued to satisfy the
Company's obligations under a warrant agreement. The warrants were
exercised for cash at an aggregate share price of 15 pence.
An application has been made to the London Stock Exchange for
the 1,341,525 New Ordinary Shares to be admitted to trading on AIM,
and it is expected that admission will become effective and trading
of the New Ordinary Shares will commence on or around 8:00am
(London time) on 23 January 2020.
Martin Andersson (the executive chairman of Chaarat) is directly
beneficially interested in the majority of the shares in Labro.
Holding in Company
Following the admission of the New Ordinary Shares described
above:
-- the Company's enlarged issued share capital will comprise
470,152,855 ordinary shares of US$0.01 each. This figure may be
used by shareholders of the Company as the denominator for the
calculations by which they will determine whether they are required
to notify their interests in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules Sourcebook; and
-- Labro will hold 165,254,167 ordinary shares of $0.01 each,
representing 35.15% of the issued share capital of the Company.
Grants of waiver
On 17 January 2020 the Board (excluding Martin Andersson)
exercised its discretion to waive the requirement for a mandatory
offer for the Company by Labro, to allow Labro to receive 516,525
new ordinary shares in the Company as mentioned above.
Enquiries
Chaarat Gold Holdings Limited
Artem Volynets (CEO) +44 (0)20 7499 2612
info@chaarat.com
Numis Securities Limited
John Prior, Paul Gillam (NOMAD) +44 (0) 20 7260 1000
James Black (Corporate Broking)
SP Angel +44 (0) 20 3470 0470
Ewan Leggat (Joint Broker)
Tavistock
Charles Vivian +44 (0)20 7920 3150
Gareth Tredway chaarat@tavistock.co.uk
Barney Hayward
About Chaarat
Chaarat is a gold mining company which owns the Kapan operating
mine in Armenia as well as Tulkubash and Kyzyltash Gold Projects in
the Kyrgyz Republic. The Company has a clear strategy to build a
leading emerging markets gold company with an initial focus on
Central Asia and the FSU through organic growth and selective
M&A.
Chaarat is engaged in active community engagement programmes 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 by
building relationships based on trust and operating to the best
environmental, social and employment standards. Further information
is available at www.chaarat.com.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Labro Investments Limited
------------------------------------- ----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position / status Person/Entity closely associated
with the Chairman
------------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/ amendment
------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Chaarat Gold Holdings Limited
------------------------------------- ----------------------------------------------
b) Legal entity identifier 213800T2A5CV84VTFJ70
------------------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where
transactions have been conducted
-------------------------------------------------------------------------------------
a) Description of the Ordinary shares of US$0.01 each
financial instrument,
type of instrument
Identification code VGG203461055
------------------------------------- ----------------------------------------------
b) Nature of the transaction Remuneration in shares under a committed
revolving term loan facility agreement
------------------------------------- ----------------------------------------------
c) Currency GBP
------------------------------------- ----------------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- --------------------- --------------------
33p 516,525
------------------------------------------ --------------------- --------------------
e) Aggregated information 516,525
* Aggregated volume 33.00000 pence
GBP 170,453.25
* Aggregated price
* Aggregated total
-------------------------------------- --------------------------------------------------
f) Date of the transaction 17 January 2020
------------------------------------- ----------------------------------------------
g) Place of the transaction XLON
------------------------------------- ----------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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