Chaarat Gold Holdings Ltd Issue of shares, holding in Company & waiver grant (2371A)

TIDMCGH

RNS Number : 2371A

Chaarat Gold Holdings Ltd

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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