Issue of shares, holding in Company & waiver grant

RNS Number : 2371A

Chaarat Gold Holdings Ltd

20 January 2020

 

20 January 2020

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Issuance of shares in Company, holding in Company and grant of waiver

Issuance of shares in Company

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, announces that it has issued 1,341,525 ordinary shares of US$0.01 each ("New Ordinary Shares"). These comprise:

-     516,525 New Ordinary Shares issued to satisfy outstanding fees pursuant to a drawdown made by the Company on 29 March 2019 under a loan agreement with Labro Investments Limited ("Labro") announced by the Company on 14 December 2018 (the "Labro Loan Agreement") (RNS number 5046K); and

-     825,000 New Ordinary Shares have been issued to satisfy the Company's obligations under a warrant agreement. The warrants were exercised for cash at an aggregate share price of 15 pence.

An application has been made to the London Stock Exchange for the 1,341,525 New Ordinary Shares to be admitted to trading on AIM, and it is expected that admission will become effective and trading of the New Ordinary Shares will commence on or around 8:00am (London time) on 23 January 2020.

Martin Andersson (the executive chairman of Chaarat) is directly beneficially interested in the majority of the shares in Labro.

Holding in Company

Following the admission of the New Ordinary Shares described above:

·     the Company's enlarged issued share capital will comprise 470,152,855 ordinary shares of US$0.01 each. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules Sourcebook; and

·     Labro will hold 165,254,167 ordinary shares of $0.01 each, representing 35.15% of the issued share capital of the Company.

Grants of waiver

On 17 January 2020 the Board (excluding Martin Andersson) exercised its discretion to waive the requirement for a mandatory offer for the Company by Labro, to allow Labro to receive 516,525 new ordinary shares in the Company as mentioned above.

Enquiries

Chaarat Gold Holdings Limited Artem Volynets (CEO)	[phone]
	[e-mail]
Numis Securities Limited
John Prior, Paul Gillam (NOMAD)	[phone]
James Black (Corporate Broking)
SP Angel	[phone]
Ewan Leggat (Joint Broker)
Tavistock
Charles Vivian	[phone]
Gareth Tredway Barney Hayward	[e-mail]

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 Central Asia and the FSU 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.

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/Entity closely associated with the Chairman
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	213800T2A5CV84VTFJ70
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	Remuneration in shares under a committed revolving term loan facility agreement
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			33p	516,525
e)	Aggregated information ·     Aggregated volume ·     Aggregated price ·     Aggregated total	516,525 33.00000 pence £ 170,453.25
f)	Date of the transaction	17 January 2020
g)	Place of the transaction	XLON

 

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