Chaarat Gold Holdings Ltd Correction to Holdings in Company (6911E)

TIDMCGH

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                Ordinary shares of US$0.01 each 
        financial instrument, 
        type of instrument 
       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       25,000 
                                                  0.3180000       100,000 
                                                  0.3180000       50,000 
                                                  0.3140000       100,000 
                                                  0.3219999       56,617 
  --------------------------------------------  --------------  ------------  --- 
 e)    Aggregated information             331,617 
    *    Aggregated volume            31.76275 pence 
     GBP 105,330.67 
 
    *    Aggregated price 
 
 
    *    Aggregated total 
 ----------------------------------------  -------------------------------------- 
 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                     Ordinary shares of US$0.01 each 
                  financial instrument, 
                  type of instrument 
                 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                  1,276,666 
    *    Aggregated volume                 30 pence 
     GBP382,999.80 
 
    *    Aggregated price 
 
 
    *    Aggregated total 
 ----------------------------------------------------------  --------------------------------- 
 f)              Date of the transaction                26 April 2019 
                -------------------------------------  --------------------------------------- 
 g)              Place of the transaction               XLON 
                -------------------------------------  --------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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July 05, 2019 10:35 ET (14:35 GMT)