Chaarat Gold Share Discussion Threads

[casual47] 14/12/2018 09:19

As far as I know, according to the rules there needs to be at the very least three days between document publication and readmission, so that shareholders can digest the info and orderly trading can occur.

So would be very strange if we are back live today.

[2pablo] 14/12/2018 09:15

That doc must have been written a few days/weeks ago and it also states 'Re-admission on or before 15th Jan '19'

Today's rns states re-admission TODAY

[jc2706] 14/12/2018 09:15

the first line of the RNS states:

"Following publication of the Admission Document, the temporary suspension of trading in the Company's Ordinary Shares is expected to be lifted today."

[casual47] 14/12/2018 09:12

Good news: all existing options not yet executed will be replaced with new options at 33p. That gets rid of a lot of options at 15p. New options will also be issued at 42p

The Directors intend to implement an incentive scheme to reward Directors and certain employees. It is intended that the proposed incentive scheme if approved will provide for three main elements:

(i) conversion of existing Option plans into a new uniform scheme; (ii) a one-off grant of equity equal to around 5 per cent. of the outstanding share capital at the date of Re-Admission; and (iii) Options equal to around 3 times of equity granted under the scheme at a strike price of 42p per Ordinary Share to the Board and senior managers which will be subject to a vesting schedule.

The first element of the scheme will require conversion of vested and unvested Options into Ordinary Shares based on a price of 33p per Ordinary Share; these will have a three year vesting period and if an employee leaves during this period the unvested Options will lapse. This first element will also require consent from the existing Option holders to join the new incentive plan and, if all holders consent, would result in around 6,471,873 new Ordinary Shares.

The second element of the scheme is expected to comprise a one-off grant of 19,731,156 new Ordinary Shares forming part of future remuneration packages.

The third element of the Scheme is expected to comprise 59,193,469 Options which will have a similar three year vesting period with the same consequences if an employee leaves. Delivery of vested Ordinary Shares will be made on the basis of 50 per cent. of the entitlement at the date of vesting with the remaining part of the entitlement to be delivered at the end of year three, whether or not in employment at such time.

[casual47] 14/12/2018 09:09

Pabs, no, readmission will be in January after Kapan purchase.

[2pablo] 14/12/2018 09:08

Weird "therefore anticipated that these facilities will be in place and drawn down by the time of Re-Admission."

Re-admission is going to be today

[casual47] 14/12/2018 09:02

Here's the meat on the financing - sounds good to me.

Kapan Acquisition Financing

As at the date of this announcement, in order to fund the Kapan Acquisition, the Company has signed a definitive term sheet with Ameriabank CJSC for a US$20 million acquisition financing facility, supported by a letter confirming that the bank will seek to raise a further US$20 million of financing through syndication with other banks in Armenia (together comprising the Kapan Acquisition Financing). Legally binding documents for the Kapan Acquisition Financing remain to be prepared, negotiated and executed and any and all conditions precedent to drawdown of the financing thereunder will also need to be satisfied. These facilities are required in order to enable the Group to proceed to completion of the Kapan Acquisition and it is therefore anticipated that these facilities will be in place and drawn down by the time of Re-Admission.

[2pablo] 14/12/2018 08:58

fishhead : Following publication of the Admission Document, the temporary suspension of trading in the Company's Ordinary Shares is expected to be lifted today.

[oli12] 14/12/2018 08:57

Yep just in time, I could think of no better Christmas gift for loved ones, Chaarat shares. Everyone loves gold.

[2pablo] 14/12/2018 08:57

Sorry for repeating my post, thought it wasn't the 14th today and no-one was awake to the news ! (senior moment)

Anyway, still haven't really raised the cash though Martin A. has lent us $15, sorry $15m.

12 noon investor webcast - I'll be dialling in. Re-admission today but not happened yet

[fishhead1] 14/12/2018 08:53

I have quickly read it, mentions something about readmission on the 20th?

[2pablo] 14/12/2018 08:52

RNS out - re-admission imminent

[jc2706] 14/12/2018 08:48

Maybe not Oli12. Perhaps CGH's negotiators are so good that they can convince Kapan is full of toxic waste and they would be doing them a favour to get rid of it.

The board changes seem like a further evolution. More very experienced people and Dusty is becoming what, in reality, he has been for some time - an executive of the company. I hesitate to suggest that these are the final blocks in the puzzle as our Chairman clearly believes in 'fluidity leadership'. But it is probably close to what he wants in place. One thing you have to say is that the board is so full of heavyweights that the company almost has to become a gold major!

[juju44] 14/12/2018 08:35

Certainly coming back as a different animal. What will be the market reaction ???

[2pablo] 14/12/2018 08:33

Re-admission and all change on the Board again

[oli12] 14/12/2018 08:27

Strange no RNS on the stock exchange website - I can see the link here, I will have a read, seems to be a lot of developments and board changes.

[mirabeau] 14/12/2018 08:08

Is this a buy now then?

[retirement_fund] 14/12/2018 08:04

Suspension lifted today! I am hoping for at least 30p levels

[jc2706] 12/12/2018 08:47

Hard to say. I suspect that there will be one next year though. :-)

[oli12] 11/12/2018 15:51

What’s the chance of an update this year?

[casual47] 08/12/2018 21:02

(For rousing Richgit from his slumber....it was funnier in my head)

[juju44] 08/12/2018 20:23

And again in English ???

[casual47] 08/12/2018 17:43

*Casual looks askance at Juju and gives him evils*