Correction to Holdings in Company

RNS Number : 6911E

Chaarat Gold Holdings Ltd

05 July 2019

 

5 July 2019

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Correction to Holdings in Company

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, has been informed that the announcement made on 24 May 2019 (RNS number 0365A) overstated the number of ordinary shares in the Company ("Shares") acquired by Labro Investments Limited ("Labro") on 23 May 2019 by 2,000 Shares. An amended disclosure form containing the information required under MAR is included at the end of this announcement.

As at 23 May 2019, Labro therefore held 139,145,717 Shares, representing 34.61% of the issued share capital of the Company following the purchase of 476,798 Shares at an aggregate share price of 29.8 pence per share on 21 May 2019 and 331,617 Shares (not 333,617 Shares) at an aggregate share price of 31.8 pence per share on 22 May 2019. Martin Andersson (the Executive Chairman of Chaarat) is indirectly beneficially interested in the majority of the shares in Labro. This mistake had a consequential effect on the announcement made on 28 May 2019 which also overstated the holding of Labro by 2,000 Shares.  As at 27 May 2019 Labro Investments Limited therefore held 139,841,969 Shares.

In addition, the Company wishes to clarify that of the 1,914,999 Shares issued to Labro in the placing, as announced on 1 May 2019 (RNS number 8100X), 1,276,666 Shares were acquired as the result of an off-set in respect of funds loaned to the Company on 29 March 2019 under the Labro Loan Agreement announced on 14 December 2018.  An amended disclosure form containing the information required under MAR is included at the end of this announcement.

Enquiries

Chaarat Gold Holdings Limited
Artem Volynets (CEO)	[phone]
	[e-mail]
Numis Securities Limited
John Prior, Paul Gillam (NOMAD)	[phone]
James Black (Corporate Broking)
Powerscourt
Conal Walsh	[phone]
Sam Austrums	[e-mail]

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 Central Asia and the FSU 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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Labro Investments Limited
2	Reason for the notification
a)	Position / status	Person/Entity closely associated with the Chairman
b)	Initial notification / amendment	Amendment
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 of ordinary shares in the market
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			0.3200000 0.3180000 0.3180000 0.3140000 0.3219999	25,000 100,000 50,000 100,000 56,617
e)	Aggregated information ·    Aggregated volume ·    Aggregated price ·    Aggregated total	331,617 31.76275 pence £ 105,330.67
f)	Date of the transaction	22 May 2019
g)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Labro Investments Limited
2	Reason for the notification
a)	Position / status	Person/Entity closely associated with the Chairman
b)	Initial notification / amendment	Amendment
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	Issuance of shares as repayment of loan
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			30 pence	1,276,666
e)	Aggregated information ·    Aggregated volume ·    Aggregated price ·    Aggregated total	1,276,666 30 pence £382,999.80
f)	Date of the transaction	26 April 2019
g)	Place of the transaction	XLON

 

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