Issue of share options

RNS Number : 5046U

Chaarat Gold Holdings Ltd

31 December 2012

 

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Issue of Share Options

Road Town, Tortola, British Virgin Islands (31 December 2012)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, announces that, in accordance with the Company's share option scheme and following approval by the Board,  the following options were awarded to the directors of Chaarat today.

Director		Options granted
Dekel Golan		1,286,250
Alex Novak		866,250
Linda Naylor		787,500
Christopher Palmer-Tomkinson		150,000
Rob Weinberg		150,000

In addition to the above a further 1,627,184 options have been granted to certain employees on the same terms. 

Under the terms of the scheme, the exercise price of the options is calculated at the date of grant using the 15 trading day volume weighted average share price prior to grant.  At the date of grant the exercise price was calculated as 20p. The Board has decided that in order to set a more demanding target for employees the exercise price should be set at 25p.  Accordingly all of the options are exercisable between 1 and 8 years from the date of grant at a price of 25p.

Enquiries:   Chaarat Gold Holdings Limited [phone] c/o Central Asia Services Limited   Dekel Golan   CEO                   [e-mail] Linda Naylor  FD [e-mail] Numis Securities Limited [phone] Alastair Stratton, Stuart Skinner (NOMAD) James Black (Broker)  College Hill [phone]  Matthew Tyler [e-mail]  Anca Spiridon  Ali Roper Further information is available at www.chaarat.com NOTES TO EDITORS: About Chaarat Gold Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic. Situated in the highly prospective Tien Shan gold belt the Company's principal strategy is the development of the Chaarat Gold Project with first gold production targeted during 2013. Chaarat's key objective is to become a low cost gold producer targeting annual production of 200,000 ounces. In addition to the Chaarat Gold Project, the Company has several other promising prospects also located within the Kyrgyz Republic. An exploration programme is underway at both the Company's Chontash project, located in the Akshirak range of mountains, as well as at the Mironovskoye asset.

 

END

 

 

MSCBKCDNOBDDFBB