Holding(s) in Company

RNS Number : 5374L

Chaarat Gold Holdings Ltd

03 October 2016

 

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Holdings in Company

Road Town, Tortola, British Virgin Islands (3 October 2016)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, was informed on 30 September of the following shareholdings in the Company following the placing announced on 27 September 2016.

·     Labro Investments Limited now holds 111,583,314 ordinary shares of US$0.01 each, representing 31.7% of the issued share capital of the Company.  Martin Andersson is indirectly beneficially interested in the majority of the shares.

·     Sarastro Group Limited holds 10,989,000 ordinary shares of US$0.01 each, representing 3.12% of the issued share capital of the Company. 

As announced on 27 September 2016, Martin Wiwen-Nilsson, Dominik Dolenec, Abingdon Trust, Willem De Geer and Sarastro Group Limited (or in each case his or its nominee) are being treated as concert parties of Labro (together with Labro the "Concert Party") for the purposes of the Articles of Association of the Company. Following completion of the Placing, the Concert Party holds 136,858,034 Ordinary Shares representing 38.9% of the Enlarged Share Capital.  

As the Placing was oversubscribed and Placing applications by members of the Concert Party were scaled back, it has been agreed as part of the Placing that members of the Concert Party may acquire up to a further 21,611,714 Ordinary Shares (excluding Ordinary Shares issued on exercise of Labro Warrants) within a period of six months following Admission without triggering a requirement to make a mandatory offer under the Articles.

Shareholders are reminded that all members of the Concert Party (other than the director of the Company Martin Wiwen-Nilsson), although associates of the Chairman Martin Andersson, act independently, solely in their own interests and have no direct involvement with the Company. This will mean that, subject to the waiver detailed above, any purchase of shares by any member of the Concert Party must be notified to the Board so that the Independent Directors can decide whether to exercise their discretion to waive the requirement to make a mandatory offer to all shareholders.

The Board believes this is best practice for corporate governance purposes so that there is no perception that Shares are being accumulated with the objective of acquiring the Company at a potentially depressed valuation and is a valuable protection for other shareholders of the Company.

Enquiries:  

Chaarat Gold Holdings Limited	+ 44 20 7499 2612
c/o Central Asia Services Limited	[e-mail]
Dekel Golan   CEO                   Linda Naylor  FD
Numis Securities Limited	[phone]
John Prior, Paul Gillam (NOMAD) James Black (Broker)

About Chaarat Gold

Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource - the Chaarat Gold Project. The Company's key objective is to become a low cost gold producer generating significant production from the development of the Chaarat Gold Project. Chaarat is engaged in an active community engagement programme 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 in the Kyrgyz Republic 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 closely associated with incoming Chairman
b)	Initial notification / amendment	Initial notification
4	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Chaarat Gold Holdings Limited
b)	Legal entity identifier	N/A
5	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 financial instrument,  type of instrument	Ordinary shares of US$0.01 each
	Identification code	VGG203461055
b)	Nature of the transaction	Acquisition of new ordinary shares in a placing
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			5.25 pence	41,758,250
e)	Aggregated information ·     Aggregated volume ·     Aggregated price ·     Aggregated total	41,758,250 5.25 pence
f)	Date of the transaction	30 September 2016
g)	Place of the transaction	United Kingdom

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Martin Wiwen-Nilsson
2.	Reason for the notification
a)	Position / status	Incoming director
b)	Initial notification / amendment	Initial notification
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	N/A
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 financial instrument,  type of instrument	Ordinary shares of US$0.01 each
	Identification code	VGG203461055
b)	Nature of the transaction	Acquisition of new ordinary shares in a placing
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			5.25 pence	7,326,010
e)	Aggregated information ·     Aggregated volume ·     Aggregated price ·     Aggregated total	7,326,010 5.25 pence
f)	Date of the transaction	30 September 2016
g)	Place of the transaction	United Kingdom

 

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