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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Chaarat Gold Holdings Ltd | LSE:CGH | London | Ordinary Share | VGG203461055 | ORD USD0.01 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.85 | 2.80 | 2.90 | 2.85 | 2.85 | 2.85 | 25,349 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 92.35M | -8.58M | -0.0124 | -2.30 | 19.66M |
TIDMCGH
RNS Number : 1629H
Chaarat Gold Holdings Ltd
08 March 2018
Chaarat Gold Holdings Limited
("Chaarat" or "the Company")
Director shareholding
Road Town, Tortola, British Virgin Islands (8th March 2018)
Chaarat (AIM:CGH) was notified on 7(th) March 2018 that Labro Investments Limited ("Labro") has purchased 2.38 million shares ordinary shares of US$0.01 each ("Shares") in the Company at a price of 18.75p per share representing a discount of 10.8 per cent. to the 3 month VWAP of 21.02p per share as at close of business on 7(th) March 2018, from Mada Limited (an entity controlled by Dekel Golan, a former Director of the Company who stepped down from the Board on 1 November 2017). Martin Andersson (the Chairman of Chaarat) is indirectly beneficially interested in the majority of the shares in Labro.
Legal and beneficial ownership of the shares will transfer immediately, with payment of the consideration to be completed in tranches on or before 1 November 2018, as agreed between Labro and Mada Limited. On 27(th) October 2017, Mada Limited gave a conditional undertaking to Labro not to sell its remaining shareholding of 2,775,691 Shares prior to 1 June 2018 (subject to limited exceptions). Labro has consented to the disposal of the Shares and Mada Limited has given a conditional undertaking to Labro not to sell any further shares in the capital of the Company prior to 28 February 2019 (subject to limited exceptions).
Following this transaction, Labro has a beneficial interest in 131,878,037 Shares representing approximately 35.51% of Chaarat's issued share capital.
There is a provision in the Company's Articles of Association which states that the Board has the right (but not obligation) to require any holder of more than 20% of the Company's Shares to make a mandatory offer to all the Company's shareholders to acquire their Shares if they acquire an additional interest in any Shares. The Board has previously exercised its discretion to waive the requirement for a mandatory offer when Labro acquired Shares in excess of a 20% holding. The Board has decided to exercise its discretion to waive the requirement for the Concert Party members (as defined and set out in the Company's announcement on 27 October 2017) in respect of this purchase. The Board considers that, as Dekel Golan had indicated he wished to dispose of a proportion of his shareholding, it was in the best interests of the Company and its shareholders to remove the potential overhang of shares by allowing Labro to purchase these shares.
The Concert Party holding following the transaction referred to above is now 166,836,306 Shares representing approximately 44.92% of Chaarat's issued share capital.
If all warrants held by Labro were exercised and all convertible loan notes held by Labro and Martin Wiwen-Nilsson were converted (but no other warrants or options to subscribe for Ordinary Shares were exercised, no other convertible loan notes were converted and no other Ordinary Shares were issued), the Concert Party would hold 190,518,557 Ordinary Shares representing approximately 48.22% of the resulting enlarged share capital.
The information contained within this announcement is deemed to constitute inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
Chaarat Gold Holdings Limited + 44 (0) 20 7499 2612 Martin Andersson - Chairman info@chaarat.com
Linda Naylor - FD/Company Secretary
Numis Securities Limited +44 (0) 20 7260 1000
John Prior, Paul Gillam (NOMAD)
James Black (Corporate Broking)
BMO Capital Markets Limited +44 (0) 20 7236 1010
Jeffrey Couch, Neil Haycock,
Thomas Rider (Joint Broker)
Blytheweigh (Financial PR) +44 (0) 20 7138 3204
Tim Blythe
Camilla Horsfall
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 long term, low-cost gold producer.
Chaarat aims to create value for its shareholders, employees and communities 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
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 closely associated with the Chairman ---- ---------------------------- ------------------------------------ b) Initial notification Initial notification / 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 213800T2A5CV84VTFJ70 identifier ---- ---------------------------- ------------------------------------ 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 Ordinary shares of US$0.01 the financial each instrument, type of instrument Identification VGG203461055 code ---- ---------------------------- ------------------------------------ b) Nature of the Purchase of ordinary shares transaction in an off market transaction ---- ---------------------------- ------------------------------------ c) Currency GBP ---- ---------------------------- ------------------------------------ d) Price(s) and Price(s) Volume(s) volume(s) ---- ---------------------------- ------------------ ------------- 18.75 pence 2,380,000 ---------------------------------------------------- ------------- e) Aggregated information * Aggregated volume 2,380,000 18.75 pence GBP446,250 * Aggregated price * Aggregated total ------------------------------------------------- -------------------- f) Date of the transaction 7 March 2018 ---- ---------------------------- ------------------------------------ g) Place of the Off market transaction ---- ---------------------------- ------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHBSGDXLBGBGII
(END) Dow Jones Newswires
March 08, 2018 09:17 ET (14:17 GMT)
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