Chaarat Gold Holdings Ltd Chief Executive Officer Transition (6205H)

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RNS Number : 6205H

Chaarat Gold Holdings Ltd

05 August 2021

5 August 2021

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Chief Executive Officer Transition

Chaarat (AIM:CGH), the AIM-quoted gold mining Company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic announces that Artem Volynets will step down by mutual agreement from his role as Chief Executive Officer (CEO) and Executive Director with immediate effect and will move into a senior adviser role.

The Company ' s Executive Chairman, Martin Andersson, will serve as interim CEO until the formal appointment of a successor to Artem. As part of the Company ' s evolving strategic requirements, earlier this year the Board appointed a leading global executive search firm to support its succession planning process. The Company has already reviewed a number of potential candidates for the role and is in advanced discussions with a preferred potential candidate. The Company will provide an update in due course.

Artem will assume the role of senior adviser to the business leveraging his experience in the mining industry across the former Soviet Union. In his future role, Artem will focus on developing merger and acquisition opportunities in the region and assisting with capital market activities .

Artem Volynets said: "Being part of Chaarat's dynamic evolution over the past three years has been immensely fulfilling and I look forward to my continued association with the Company in my new role as senior adviser."

The Board sincerely thanks Artem for his role as CEO over the development of Chaarat throughout his three-year tenure and wishes him well on his transition to his new position with the Company and his new endeavours.

Martin Andersson, Executive Chairman of Chaarat, said: " I would like to thank Artem for all his hard work and dedication to Chaarat over the past three years. Artem led Chaarat through the Group ' s transformation from an exploration company to a producer . Together with his team, he has created a solid foundation for our next stage of development. Artem will, in his new capacity and as a long-term shareholder, continue to add value to the business moving forward. The team and I look forward to continuing to work with Artem as the business advances its strategic initiatives".

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 Enquiries 
 
                                         +44 (0)20 7499 
 Chaarat Gold Holdings Limited            2612 
 Patrick Henze (Investor Relations)      info@chaarat.com 
 
 Canaccord Genuity Limited (NOMAD and    + 44 (0)20 7523 
  Joint Broker)                           8000 
 Henry Fitzgerald-O'Connor 
 James Asensio 
 
                                         +44 (0)20 7220 
 finnCap Limited (Joint Broker)           0500 
 Christopher Raggett 
 
 Panmure Gordon (UK) Limited (Joint      +44 (0)20 7886 
  Broker)                                 2500 
 John Prior 
  Hugh Rich

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 the Former Soviet Union 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/ .

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