Notification of Major Interest in Shares

+--------------------------------------------+
| For filings with the FSA include the annex |
|--------------------------------------------|
| For filings with issuer exclude the annex  |
+--------------------------------------------+



+-------------------------------------------------------------------+
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i                  |
|-------------------------------------------------------------------|
|                                          |                        |
|------------------------------------------+------------------------|
| 1. Identity of the issuer or the         |                        |
| underlying issuer                        | Chaarat Gold Holdings  |
| of existing shares to which voting       | Ltd Ord USD0.01 (SEDOL |
| rights are                               |        B24FXV6)        |
| attached: ii                             |                        |
|-------------------------------------------------------------------|
| 2 Reason for the notification (please tick the appropriate box or |
| boxes):                                                           |
|-------------------------------------------------------------------|
| An acquisition or disposal of voting    |                         |
| rights                                  |                         |
|-----------------------------------------+-------------------------|
| An acquisition or disposal of           |                         |
| qualifying financial instruments which  |                         |
| may result in the acquisition of shares |                         |
| already issued to which voting rights   |                         |
| are attached                            |                         |
|-----------------------------------------+-------------------------|
| An acquisition or disposal of           |                         |
| instruments with similar economic       |                         |
| effect to qualifying financial          |                         |
| instruments                             |                         |
|-----------------------------------------+-------------------------|
| An event changing the breakdown of      |            X            |
| voting rights                           |                         |
|-----------------------------------------+-------------------------|
| Other (please specify):                 |                         |
|                                         |                         |
+-------------------------------------------------------------------+




+-------------------------------------------------------------------+
| 3. Full name of person(s) subject   | Cazenove Capital Management |
| to the                              |           Limited           |
| notification obligation: iii        |                             |
|-------------------------------------+-----------------------------|
| 4. Full name of shareholder(s)      |             N/A             |
|  (if different from 3.):iv          |                             |
|-------------------------------------+-----------------------------|
| 5. Date of the transaction and date |                             |
| on                                  |          15/09/09           |
| which the threshold is crossed or   |                             |
| reached: v                          |                             |
|-------------------------------------+-----------------------------|
| 6. Date on which issuer notified:   |          16/09/09           |
|-------------------------------------+-----------------------------|
| 7. Threshold(s) that is/are crossed |                             |
| or                                  |             14%             |
| reached: vi, vii                    |                             |
+-------------------------------------------------------------------+





+-------------------------------------------------------------------------------------------------+
|8. Notified details:                                                                             |
|-------------------------------------------------------------------------------------------------|
|A: Voting rights attached to shares viii, ix                                                     |
|-------------------------------------------------------------------------------------------------|
|Class/type of |Situation previous       |Resulting situation after the triggering transaction    |
|shares        |to the triggering        |                                                        |
|if possible   |transaction              |                                                        |
|using         |-------------------------+--------------------------------------------------------|
|the ISIN CODE |Number      |Number      |Number      |Number of voting       |% of  voting       |
|              |of          |of          |of shares   |rights                 |rights x           |
|              |Shares      |Voting      |------------+-----------------------+-------------------|
|              |            |Rights      |Direct      |Direct xi   |Indirect  |Direct  |Indirect  |
|              |            |            |            |            |xii       |        |          |
|--------------+------------+------------+------------+------------+----------+--------+----------|
|VGG203461055  |            |            |            |            |          |        |          |
|--------------|15,698,750  |15,698,750  |15,698,750  |15,698,750  |0         |13.90%  |0         |
|Ordinary      |            |            |            |            |          |        |          |
+-------------------------------------------------------------------------------------------------+



+-------------------------------------------------------------------+
| B: Qualifying Financial Instruments                               |
|-------------------------------------------------------------------|
| Resulting situation after the triggering transaction              |
|-------------------------------------------------------------------|
| Type of    | Expiration | Exercise/        | Number of   | % of   |
| financial  | date xiii  | Conversion       | voting      | voting |
| instrument |            | Period xiv       | rights that | rights |
|            |            |                  | may be      |        |
|            |            |                  | acquired if |        |
|            |            |                  | the         |        |
|            |            |                  | instrument  |        |
|            |            |                  | is          |        |
|            |            |                  | exercised/  |        |
|            |            |                  | converted.  |        |
|------------+------------+------------------+-------------+--------|
| N/A        | N/A        | N/A              | N/A         | N/A    |
+-------------------------------------------------------------------+



+--------------------------------------------------------------------------------+
|C: Financial Instruments with similar economic effect to Qualifying Financial   |
|Instruments xv, xvi                                                             |
|--------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                            |
|--------------------------------------------------------------------------------|
|Type of        |Exercise |Expiration |Exercise/    |Number of  |% of voting     |
|financial      |price    |date xvii  |Conversion   |voting     |rights xix, xx  |
|instrument     |         |           |period xviii |rights     |                |
|               |         |           |             |instrument |                |
|               |         |           |             |refers to  |                |
|               |         |           |             |           |                |
|---------------+---------+-----------+-------------+-----------+----------------|
|               |         |           |             |N/A        |Nominal  |Delta |
|N/A            |N/A      |N/A        |N/A          |           |---------+------|
|               |         |           |             |           |N/A      |N/A   |
+--------------------------------------------------------------------------------+




+-------------------------------------------------------+
| Total (A+B+C)                                         |
|-------------------------------------------------------|
| Number of voting rights | Percentage of voting rights |
|-------------------------+-----------------------------|
| 15,698,750              | 13.90%                      |
+-------------------------------------------------------+





+-------------------------------------------------------------------+
| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the                                                 |
| financial instruments are effectively held, if applicable: xxi    |
|-------------------------------------------------------------------|
|                                                                   |
| N/A                                                               |
+-------------------------------------------------------------------+




+-----------------------------------------------------------------+
| Proxy Voting:                                                   |
|-----------------------------------------------------------------|
| 10. Name of the proxy holder:                          |  N/A   |
|--------------------------------------------------------+--------|
| 11. Number of voting rights proxy holder will cease    |  N/A   |
| to hold:                                               |        |
|--------------------------------------------------------+--------|
| 12. Date on which proxy holder will cease to hold      |  N/A   |
| voting rights:                                         |        |
|-----------------------------------------------------------------|
|                                                                 |
|-----------------------------------------------------------------|
| 13. Additional information:              |         N/A          |
|------------------------------------------+----------------------|
| 14. Contact name:                        |     Linda Naylor     |
|------------------------------------------+----------------------|
| 15. Contact telephone number:            | [phone] |
+-----------------------------------------------------------------+

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