Chaarat Gold Holdings Ltd Rule 2.8 Announcement (2226G)
November 14 2022 - 2:00AM
UK Regulatory
TIDMCGH TIDMSHG
RNS Number : 2226G
Chaarat Gold Holdings Ltd
14 November 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATION OF SUCH
JURISDICTION
THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF
THE UNITED KINGDOM ("UK") CITY CODE ON TAKEOVERS AND MERGERS (THE
"TAKEOVER CODE").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018
FOR IMMEDIATE RELEASE
14 November 2022
Chaarat Gold Holdings Ltd
("Chaarat", "the Company" or "the Group")
Statement of intention not to make an offer for Shanta Gold
Ltd
Further to the announcement made by Chaarat on 18 October 2022
regarding the possible offer for the entire issued and to be issued
share capital of Shanta Gold Limited ("Shanta"), Chaarat confirms
that it is not intending to make an offer for Shanta.
The management teams of Shanta and Chaarat have been engaged to
evaluate the potential structure and terms of a possible offer,
however it has not been possible to reach an agreement. Chaarat
will continue to proactively seek and evaluate various
opportunities to diversify its asset portfolio and grow
inorganically, as well as pursuing organic growth through Chaarat's
own significant resource base.
This is a statement to which Rule 2.8 of the Takeover Code (the
"Code") applies.
Under Note 2 on Rule 2.8 of the Code, Chaarat reserves the right
to set the restrictions in Rule 2.8 aside in the following
circumstances:
a. with the agreement of the board of directors of Shanta;
b. if a third party announces a firm intention to make an offer for Shanta;
c. if Shanta announces a Rule 9 waiver (see Note 1 of the Notes
on Dispensations from Rule 9) or a reverse takeover (as defined in
the Code); and
d. if there has been a material change of circumstances (as
determined by the Takeover Panel).
Enquiries
Chaarat Gold Holdings Limited +44 (0) 20 7499 2612
Mike Fraser (Chief Executive Officer)
Canaccord Genuity Limited +44 (0) 207 523 8000
(Financial adviser, NOMAD and Joint Broker
to Chaarat)
Raj Khatri
James Asensio
Gordon Hamilton
Publication on website
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be available on the website of Chaarat at
https://www.Chaarat.com/for-investors/ promptly and by no later
than 12 noon (London time) on the business day following this
announcement. The content of the websites referred to in this
announcement are not incorporated into and do not form part of this
announcement.
Other notices
Canaccord Genuity, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting
exclusively for Chaarat and for no-one else in connection with the
matters referred to in this Announcement and will not be
responsible to any person other than Chaarat for providing the
protections afforded to clients of Canaccord Genuity, nor for
providing advice in relation to the matters referred to herein.
Neither Canaccord Genuity nor any of its affiliates owes or accepts
any duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise)
to any person who is not a client of Canaccord Genuity in
connection with the matters referred to in this Announcement, or
otherwise.
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END
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