Option grant and equity issue

RNS Number : 8826Y

Chaarat Gold Holdings Ltd

19 January 2022

 

19 January 2022

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Option grant and equity issue

Chaarat (AIM:CGH), the AIM-quoted gold mining company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, announces that Mike Fraser, who joined Chaarat's board on 17 January 2022 as the Company's Chief Executive Officer, has been granted options over five million ordinary shares (the "Options") of US$0.01 each in the Company under the Chaarat Gold Holdings Limited Management Incentive Plan 2019 (the "MIP").  The Options are exercisable at a price of £0.42 per share between 18 January 2022 and 18 January 2027 subject to the rules of the MIP.  The Company has also agreed to pay to Mr Fraser a sign-on bonus of US$62,500 payable through the issue of 255,935 ordinary shares of US$0.01 each in the capital of the Company (the "New Ordinary Shares").  Mr Fraser has no other interests in the share capital of the Company. An application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM, and it is expected that admission will become effective at or around 8:00am (London time) on 24 January 2022. Following admission of the New Ordinary Shares the Company's enlarged issued share capital will comprise 689,668,088 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.

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Enquiries
Chaarat Gold Holdings Limited	[phone]
Martin Andersson (Executive Chairman)	[e-mail]
Canaccord Genuity Limited (NOMAD and Joint Broker)	+ 44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
James Asensio
finnCap Limited (Joint Broker)	[phone]
Christopher Raggett
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior Hugh Rich
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 the f ormer So viet Un ion 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 .

Appendix - PDMR forms

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael John Fraser
2.	Reason for the notification
a)	Position / status	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	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	Grant of an option award under the 2019 Management Incentive Plan
c)	Currency	GBP
d)	Price(s) and volume(s)		Exercise Price(s)	Volume(s)
			£0.42 per share	5,000,000
e)	Aggregated information · Aggregated volume · Aggregated price · Aggregated total	5,000,000 42.00000 pence per share £2,100,000
f)	Date of the transaction	18 January 2022
g)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael John Fraser
2.	Reason for the notification
a)	Position / status	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	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	Acquisition by way of a new share issue
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			0.1790	255,935
e)	Aggregated information · Aggregated volume · Aggregated price · Aggregated total	255,935 17.90 pence £45,812.37
f)	Date of the transaction	18 January 2022
g)	Place of the transaction	Outside of a trading venue

 

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