Notification of Major Interest in Shares

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| | For filings with the FSA include    |                         | |
| | the annex                           |                         | |
| |-------------------------------------+-------------------------| |
| | For filings with issuer exclude the |                         | |
| | annex                               |                         | |
| |---------------------------------------------------------------| |
| |                                                               | |
| |---------------------------------------------------------------| |
| | TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi               | |
| |---------------------------------------------------------------| |
| |                                        |                      | |
| |----------------------------------------+----------------------| |
| | 1. Identity of the issuer or the       |     Chaarat Gold     | |
| | underlying issuer                      |   Holdings Ltd Ord   | |
| | of existing shares to which voting     |    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      |     X      | |
| |--------------------------------------------------+------------| |
| | 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 voting rights |            | |
| |--------------------------------------------------+------------| |
| | Other (please          |                         |            | |
| | specify):              |                         |            | |
| |---------------------------------------------------------------| |
| | 3. Full name of person(s)       | Cazenove Capital Management | |
| | subject 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                         |                             | |
| | which the threshold is crossed  |          22/10/09           | |
| | or                              |                             | |
| | reached: v                      |                             | |
| |---------------------------------+-----------------------------| |
| | 6. Date on which issuer         |          23/10/09           | |
| | notified:                       |                             | |
| |---------------------------------+-----------------------------| |
| | 7. Threshold(s) that is/are     |                             | |
| | crossed or                      |             14%             | |
| | reached: vi, vii                |                             | |
| +---------------------------------------------------------------+ |
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|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 using     |transaction                     |                                                    |
|the ISIN CODE         |--------------------------------+----------------------------------------------------|
|                      |Number           |Number        |Number    |Number of voting     |% of  voting rights|
|                      |of               |of            |of shares |rights               |x                  |
|                      |Shares           |Voting        |----------+---------------------+-------------------|
|                      |                 |Rights        |Direct    |Direct |Indirect xii |Direct  |Indirect  |
|                      |                 |              |          |xi     |             |        |          |
|----------------------+-----------------+--------------+----------+-------+-------------+--------+----------|
|VGG203461055          |                 |              |          |       |             |        |          |
|----------------------|15,786,450       |15,786,450    |15,811,450|       |15,811,450   |        |14.00%    |
|Ordinary              |                 |              |          |       |             |        |          |
|------------------------------------------------------------------------------------------------------------|
|                                                                                                            |
|------------------------------------------------------------------------------------------------------------|
|B: Qualifying Financial Instruments                                                                         |
|------------------------------------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                                                        |
|------------------------------------------------------------------------------------------------------------|
|Type of financial          |Expiration        |Exercise/              |Number of voting      |% of voting   |
|instrument                 |date xiii         |Conversion Period xiv  |rights that may be    |rights        |
|                           |                  |                       |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 price    |Expiration date|Exercise/     |Number of voting      |% of voting rights |
|financial      |                  |xvii           |Conversion    |rights instrument     |xix, xx            |
|instrument     |                  |               |period xviii  |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                   |
|-------------------------------------------------------------+----------------------------------------------|
|15,811,450                                                   |14.00%                                        |
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| 9. Chain of controlled undertakings through which the voting      |
| rights and/or the                                                 |
| financial instruments are effectively held, if applicable: xxi    |
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| N/A                                                               |
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|                                                                   |
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| Proxy Voting:                                                     |
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| 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:                                             |      |
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| 13. Additional information:                   |        N/A        |
|-----------------------------------------------+-------------------|
| 14. Contact name:                             |        N/A        |
|-----------------------------------------------+-------------------|
| 15. Contact telephone number:                 |        N/A        |
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| Note: Annex should only be submitted to the FSA not the issuer    |
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| Annex: Notification of major interests in sharesxxii              |
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|                                                                   |
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| A: Identity of the persons or legal entity subject to the         |
| notification obligation                                           |
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| Full name                                  |   Cazenove Capital   |
| (including legal form of legal entities)   |  Management Limited  |
|                                            |                      |
|--------------------------------------------+----------------------|
| Contact address                            |   Cazenove Capital   |
| (registered office for legal entities)     |  Management Limited  |
|                                            | 12 Moorgate, London, |
|                                            |       EC2R 6DA       |
|--------------------------------------------+----------------------|
| Phone number & email                       |    0207 155 5905     |
|                                            |                      |
|--------------------------------------------+----------------------|
| Other useful information                   |                      |
| (at least legal representative for legal   |   Anthony O'Malley   |
| persons)                                   |                      |
|                                            |                      |
|--------------------------------------------+----------------------|
|                                            |                      |
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| B: Identity of the notifier, if applicable                        |
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| Full name                                  |         N/A          |
|                                            |                      |
|--------------------------------------------+----------------------|
| Contact address                            |         N/A          |
|                                            |                      |
|--------------------------------------------+----------------------|
| Phone number & email                       |         N/A          |
|                                            |                      |
|--------------------------------------------+----------------------|
| Other useful information                   |                      |
| (e.g. functional relationship with the     |         N/A          |
| person or legal entity subject to the      |                      |
| notification obligation)                   |                      |
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| C: Additional information                                         |
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| N/A                                                               |
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| For notes on how to complete form TR-1 please see the FSA         |
| website.                                                          |
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