Shareholding disclosure

RNS Number : 8487N

Chaarat Gold Holdings Ltd

21 May 2015

 



Chaarat Gold Holdings Limited

("Chaarat" or "the Company")

Shareholding disclosure

Road Town, Tortola, British Virgin Islands (21 May 2015)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, was notified on 20 May that, on 19 May 2015, Fasanara Capital Credit Strategies Fund (the "Fasanara Fund") distributed 68,775,064 ordinary shares of its holding in the capital of the Company in specie to Labro Investments Limited ("Labro").

Chaarat and the Fasanara Fund entered into an agreement on 17 December 2014 pursuant to which the Company granted warrants to subscribe for 21,367,521 ordinary shares in the capital of the Company (the "Warrants") to the Fasanara Fund in connection with the placing of 21,367,521 new ordinary shares in the capital of the Company with the Fasanara Fund (the "Agreement").

Chaarat, the Fasanara Fund and Labro have novated the Agreement and entered into a Deed in order to transfer all of the Fasanara Fund's rights and obligations under the Agreement to Labro.

Martin Andersson was and remains indirectly beneficially interested in the majority of the shares of the Fasanara Fund and Labro.  Martin Andersson is therefore indirectly beneficially interested in the 68,775,064 shares or 25.2% of the issued share capital of Chaarat held by Labro following the distribution in specie. The holding of Fasanara Capital Limited in the capital of the Company has fallen below 3%.

Enquiries:  

Chaarat Gold Holdings Limited	+ 44 20 7499 2612
c/o Central Asia Services Limited	[e-mail]
Dekel Golan   CEO
Linda Naylor  FD
Numis Securities Limited	[phone]
John Prior, Paul Gillam (NOMAD) James Black (Broker)

NOTES TO EDITORS:

About Chaarat Gold
Chaarat Gold is an exploration and development company operating in the Kyrgyz Republic with a large, high grade resource - the Chaarat Gold Project. The Company's key objective is to become a low cost gold producer generating significant production from the development of the Chaarat Gold Project. Chaarat is preparing a Definitive Feasibility Study and continuing its active community engagement programme 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 in the Kyrgyz Republic by building relationships based on trust and operating to the best environmental, social and employment standards.

 

END

 

 

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