Chaarat Gold Holdings Ltd
(AIM:CGH)
("Chaarat" or "the Company")
Receipt of Chinese regulatory approval and application for admission
of shares to trading on AIM
Road Town, Tortola, British Virgin Islands (8 September 2009).
Further to the announcement on 13 July 2009, Chaarat today announces
that regulatory approval of the Chinese Government to the
subscription by China Nonferrous Metals Int'l Mining Co Ltd ("CNMIM")
for 22,469,289 shares ("Placing Shares") at 25p in the Company has
been received.
Accordingly the Company has applied for the Placing Shares to be
admitted to trading on the AIM market of the London Stock Exchange
and it is expected that Admission will take place and that trading
will commence in such shares on or about 14 September 2009.
The Placing Shares are being issued credited as fully paid and will
rank pari passu with the existing Ordinary Shares.
Following the admission of the Placing Shares, the Company's existing
issued share capital will increase from 90,441,714 Ordinary Shares of
$0.01 each to 112,911,003 Ordinary Shares ("Enlarged Share
Capital"). As such, the total number of voting rights which will be
attached to the Enlarged Share Capital on the basis of one vote per
Ordinary Share will be 112,911,003.
The above voting rights figure may be used by shareholders 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 Services Authority's
Disclosure and Transparency Rules.
Dekel Golan CEO comments: "I am delighted to welcome CNMIM as
shareholders and look forward to their contribution in taking the
Chaarat project towards development. This investment, together with
the Placing in May, will fund the Company through to completion of a
full feasibility study".
About the Chaarat Gold Project
The Chaarat project is situated within the Middle Tien Shan Mountains
of Kyrgyzstan which form part of the Tien Shan gold belt. At the
completion of the 2008 exploration season a mineral resource of
3.34Moz at a grade of 4.30 g/t gold (JORC compliant in the Indicated
and Inferred categories) had been delineated. The Company's
exploration programme is aimed at increasing the confidence levels in
the resource through infill drilling through down-dip and
along-strike extension drilling whilst developing a pre-feasibility
study to demonstrate the economic viability of the deposit.
About Chaarat Gold Holdings or the Company
Chaarat Gold Holdings is an exploration company founded for the
purpose of developing the Chaarat License Area. Chaarat was admitted
to AIM on 8 November 2007.
Disclaimer
This press release includes forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond Chaarat's control
that would cause the actual results, performance or achievements of
Chaarat to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding Chaarat's present and future business
strategies and the environment in which Chaarat will operate in the
future. Any forward-looking statements speak only as at the date of
this document. Chaarat expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained in this document to reflect any
change in Chaarat's expectations with regard to these or any change
in events, conditions or circumstances on which any such statements
are based. As a result of these factors, the events described in the
forward-looking statements in this press release may not occur either
partially or at all.
Enquiries
Chaarat Gold Holdings Ltd
c/o Central Asia Services Ltd +44 (0) 20 7499 2612
Dekel Golan dekel@chaarat.com
Linda Naylor Linda.naylor@chaarat.com
Canaccord Adams Limited +44 (0) 20 7050 6500
Mike Jones
Smith's Corporate Advisory +44 (0) 20 7239 0140
Dominic Palmer-Tomkinson tomkinson@smiths-ca.com
Conduit PR +44 (0) 20 7429 6666
Edward Portman ed@conduitpr.com
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