Update on Suspension

RNS Number : 2181N

Chaarat Gold Holdings Ltd

04 May 2018

 

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Update on Suspension

Road Town, Tortola, British Virgin Islands (4 May 2018)

Chaarat (AIM: CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, has received various enquiries regarding the suspension of trading of its ordinary shares on AIM.

As stated in Chaarat's announcements dated 24 April 2018 and 1 May 2018, Chaarat has made a proposal in relation to the potential acquisition (the "Acquisition") of the Kumtor mine from Centerra Gold Inc.

The proposed Acquisition would constitute a Reverse Takeover as defined under the AIM Rules, due (among other things) to the size of the Acquisition. Accordingly, trading in Chaarat's ordinary shares was suspended on 24 April 2018 and, in accordance with AIM Rule 14 and as previously announced, will remain suspended pending the publication of the required AIM Admission Document (or an announcement being made by Chaarat that the Acquisition is no longer in contemplation by Chaarat).  

As previously announced, there can be no certainty at this stage that the proposed Acquisition will be completed, and Chaarat will provide updates in respect of further developments as appropriate.   

Enquiries:

Chaarat Gold Holdings Limited                                                                   [phone]

Martin Andersson - Chairman                                                                    [e-mail]

Robert Benbow - Chief Executive Officer

Numis Securities Limited                                                                              [phone]

John Prior, Paul Gillam (NOMAD)

James Black (Corporate Broking)

BMO Capital Markets Limited                                                                     [phone]

Jeffrey Couch, Neil Haycock,
Thomas Rider (Joint Broker)

Blytheweigh (Financial PR)                                                                          [phone]

Tim Blythe

Camilla Horsfall

Powerscourt

Conal Walsh                                                                                                       [phone]

Matthew Attwood                                                                                           [e-mail]

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 engaged in an 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.

Further information is available at www.chaarat.com 

 

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