Chaarat Gold Holdings Ltd Holding(s) in Company (5374L)
03 October 2016 - 3:17PM
UK Regulatory
TIDMCGH
RNS Number : 5374L
Chaarat Gold Holdings Ltd
03 October 2016
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Holdings in Company
Road Town, Tortola, British Virgin Islands (3 October 2016)
Chaarat (AIM - CGH), the AIM quoted exploration and development
company with assets in the Kyrgyz Republic, was informed on 30
September of the following shareholdings in the Company following
the placing announced on 27 September 2016.
-- Labro Investments Limited now holds 111,583,314 ordinary
shares of US$0.01 each, representing 31.7% of the issued share
capital of the Company. Martin Andersson is indirectly beneficially
interested in the majority of the shares.
-- Sarastro Group Limited holds 10,989,000 ordinary shares of
US$0.01 each, representing 3.12% of the issued share capital of the
Company.
As announced on 27 September 2016, Martin Wiwen-Nilsson, Dominik
Dolenec, Abingdon Trust, Willem De Geer and Sarastro Group Limited
(or in each case his or its nominee) are being treated as concert
parties of Labro (together with Labro the "Concert Party") for the
purposes of the Articles of Association of the Company. Following
completion of the Placing, the Concert Party holds 136,858,034
Ordinary Shares representing 38.9% of the Enlarged Share
Capital.
As the Placing was oversubscribed and Placing applications by
members of the Concert Party were scaled back, it has been agreed
as part of the Placing that members of the Concert Party may
acquire up to a further 21,611,714 Ordinary Shares (excluding
Ordinary Shares issued on exercise of Labro Warrants) within a
period of six months following Admission without triggering a
requirement to make a mandatory offer under the Articles.
Shareholders are reminded that all members of the Concert Party
(other than the director of the Company Martin Wiwen-Nilsson),
although associates of the Chairman Martin Andersson, act
independently, solely in their own interests and have no direct
involvement with the Company. This will mean that, subject to the
waiver detailed above, any purchase of shares by any member of the
Concert Party must be notified to the Board so that the Independent
Directors can decide whether to exercise their discretion to waive
the requirement to make a mandatory offer to all shareholders.
The Board believes this is best practice for corporate
governance purposes so that there is no perception that Shares are
being accumulated with the objective of acquiring the Company at a
potentially depressed valuation and is a valuable protection for
other shareholders of the Company.
Enquiries:
Chaarat Gold Holdings
Limited + 44 20 7499 2612
c/o Central Asia Services info@chaarat.com
Limited
Dekel Golan CEO
Linda Naylor FD
Numis Securities Limited +44 (0) 20 7260 1000
John Prior, Paul Gillam
(NOMAD)
James Black (Broker)
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
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 incoming Chairman
-------- ------------------------------ ----------------------------------------
b) Initial notification Initial notification
/ amendment
-------- ------------------------------ ----------------------------------------
4 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-------- ------------------------------------------------------------------------
a) Name Chaarat Gold Holdings Limited
-------- ------------------------------ ----------------------------------------
b) Legal entity N/A
identifier
-------- ------------------------------ ----------------------------------------
5 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 Acquisition of new ordinary
transaction shares in a placing
-------- ------------------------------ ----------------------------------------
c) Currency GBP
-------- ------------------------------ ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s)
-------- ------------------------------ ------------------ -----------------
5.25 pence 41,758,250
---------------------------------------------------------- -----------------
e) Aggregated information
* Aggregated volume 41,758,250
5.25 pence
* Aggregated price
* Aggregated total
--------------------------------------------------- ----------------------------
f) Date of the transaction 30 September 2016
-------- ------------------------------ ----------------------------------------
g) Place of the United Kingdom
transaction
-------- ------------------------------ ----------------------------------------
1. Details of the person discharging managerial
responsibilities / person closely associated
-------- ------------------------------------------------------------------------
a) Name Martin Wiwen-Nilsson
-------- ------------------------------ ----------------------------------------
2. Reason for the notification
-------- ------------------------------------------------------------------------
a) Position / status Incoming director
-------- ------------------------------ ----------------------------------------
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 N/A
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 Acquisition of new ordinary
transaction shares in a placing
-------- ------------------------------ ----------------------------------------
c) Currency GBP
-------- ------------------------------ ----------------------------------------
d) Price(s) and Price(s) Volume(s)
volume(s)
-------- ------------------------------ ------------------- ----------------
5.25 pence 7,326,010
----------------------------------------------------------- ----------------
e) Aggregated information
* Aggregated volume 7,326,010
5.25 pence
* Aggregated price
* Aggregated total
---------------------------------------------------- ---------------------------
f) Date of the transaction 30 September 2016
-------- ------------------------------ ----------------------------------------
g) Place of the United Kingdom
transaction
-------- ------------------------------ ----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 03, 2016 10:17 ET (14:17 GMT)