TIDMCGLO
RNS Number : 8744K
Chagala Group Limited
27 September 2016
Chagala Group Limited
26 September 2016
This announcement is not an offer of securities for sale, or an
offer to buy or subscribe for, directly or indirectly, securities
to any person in the United States or any other jurisdiction,
including in or into Canada, Japan, South Africa, Switzerland and
Australia or any other jurisdiction in which such offer or
solicitation is unlawful. This announcement is an advertisement and
not a prospectus (or prospectus equivalent document). Neither this
announcement nor any part of it shall form the basis of or be
relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.
Update regarding Placing and Open Offer
Further to its announcement made on 23 September 2016 relating
to its Placing and Open Offer of New Ordinary Shares and potential
placing of Additional Placing Shares (the "Capital Raise"), Chagala
Group Limited (the "Company" or "Chagala") announces as
follows:
1. Under the transaction timetable for the Capital Raise, the
expected date for announcement of the result of the Capital Raise
is 26 September 2016.
2. In light of the order (the "Order") issued on 22 September
2016 by the Eastern Caribbean Supreme Court in the Commercial
Division of the High Court of Justice of the British Virgin Islands
(the "Court") requiring the suspension of the Placing and Open
Offer and the Company's plans to appeal the Order (the "Appeal"),
the Company will not be announcing the result of the Capital Raise
today.
3. The Company is currently urgently seeking to have a hearing
on the Appeal as soon as possible. The Company and its counsel are
also considering seeking clarification from the Court as to the
implications of the Order for the Capital Raise transaction,
including the ability of the Company to extend the transaction
timetable.
4. The Company intends to make a further announcement regarding
the Capital Raise transaction and its timetable in due course. In
addition, in light of the Order and the resulting uncertainty as to
whether the Company will be able to complete the Capital Raise, the
Company intends to make a further announcement in due course with
an update on its current financial position and a discussion of the
implications for its financial position of an inability to complete
the Capital Raise.
In accordance with section 87G of FSMA and paragraph 3.4 of the
Prospectus Rules, following the granting of the Order, the Company
intends (subject to doing so being in compliance with the Order and
other applicable law) to publish a supplementary prospectus which
will be posted to Shareholders in due course, which will be
announced separately via a Regulatory Information Service.
For more information:
Francisco Parrilla, Chief Executive
Chagala Group Limited + 7 (727) 298 0131
Chagala Group
Chagala is a service company focused on providing long and short
term accommodation solutions to domestic and international oil and
gas companies developing Kazakhstan's largest hydrocarbon
discoveries. With the ownership of hotels, guest houses, serviced
apartments, remote site facilities, restaurants and offices in its
portfolio, Chagala is well positioned to capitalize on the oil and
gas investment being made in Kazakhstan.
Important Notices
This announcement is an advertisement and not a prospectus and
investors should not purchase or subscribe for any New Ordinary
Shares (or Additional Placing Shares, if any) referred to in this
announcement except on the basis of information in the Prospectus
published by the Company in connection with the admission of such
New Ordinary Shares.
The distribution or publication of this announcement, any
related documents, and the offer, sale and/or issue of the New
Ordinary Shares (and Additional Placing Shares, if any) in certain
jurisdictions may be restricted by law. Persons into whose
possession any document or other information referred to herein
comes are required to inform themselves about and to observe any
such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of such
jurisdiction.
This announcement does not constitute or form part of an offer
to sell, or the solicitation of an offer to buy or subscribe for,
New Ordinary Shares to any person in the United States, Australia,
Canada, Japan, Switzerland or South Africa or in any jurisdiction
to whom or in which such offer or solicitation is unlawful and, in
particular, is not for release, publication or distribution in or
into the United States, Australia, Canada, Japan, Switzerland or
South Africa.
This announcement is not an offer of securities for sale in the
United States, and is not for publication or distribution, directly
or indirectly, in or into the United States of America. The
securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act") and may not be offered or sold in the United
States, except pursuant to an applicable exemption from
registration under the Securities Act. No public offering of
securities is being made in the United States.
The New Ordinary Shares, the Additional Placing Shares (if any)
and the Open Offer Entitlements have not been and will not be
registered under the applicable securities laws of Australia,
Japan, Switzerland or South Africa, and the Company is not a
"reporting issuer", as such term is defined under applicable
Canadian securities laws. Subject to certain exceptions, the New
Ordinary Shares and the Open Offer Entitlements referred to herein
may not be offered or sold in Australia, Canada, Japan, Switzerland
or South Africa or to, or for the account or benefit of, any
national, resident or citizen of Australia, Canada, Japan,
Switzerland or South Africa. There will be no public offer of
securities in Australia, Canada, Japan, Switzerland or South
Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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