PDMR Notification - Vesting of share awards

RNS Number : 9503V

Chaarat Gold Holdings Ltd

20 April 2021

 

20 April 2021

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

PDMR Notification - Vesting of a proportion of share awards

Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the Kyrgyz Republic and Armenia, provides an update on vesting and awards of certain restricted stock units ("RSUs") under the Company's previously announced management incentive plan (the "Plan"). The third tranche of R SUs awarded to directors and persons discharging managerial responsibilities ("PDMRs") vested on 15 April 2021. As set out in the Company's announcement of 20 September 2019, this comprises up to one-third of the total RSUs awarded under the Plan together with a portion of share awards under agreements relating to the surrender of options as set out in the announcement of 8 October 2019. Furthermore, some additional RSUs have been awarded under the Plan on 15 April 2021 which have vested immediately.  The vesting of the third tranche of RSUs so far as it related to executive directors and other PDMRs together with the vesting of the additional RSUs were subject to performance conditions not all of which were fully satisfied.  Where performance conditions were not fully satisfied, the RSUs that did not vest have automatically lapsed. The relevant vesting details so far as they relate to directors and other PDMRs are set  out below: Vesting of Tranche 3 awards made in 2019 subject to KPIs Martin Andersson 1,139,596 Artem Volynets 946,343 Darin Cooper 398,789 Christopher Eger 428,098 Vesting of Tranche 3 awards made in 2019 not subject to KPIs Hussein Barma 65,862 Robert Benbow 197,583 Robert Edwards 65,862 Warren Gilman 65,862 Gordon Wylie 131,723 Vesting of awards made in 2019 for surrender of options under old scheme Robert Benbow 360,284 Artem Volynets 371,213 Vesting of additional awards made on 15 April 2021 Darin Cooper 681,265 Christopher Eger 608,701

In addition, 1,969,925 awards vested to employees who are not PDMRs.  There are now no outstanding RSU awards under the Plan. There remain 55,027,006 share options under the Plan which are exercisable until 18 September 2024 at an exercise price of 42 pence per share.

As announced on 20 September 2019, 21,585,108 shares were issued to the Company's employee benefit trust (the "EBT") for the purposes of satisfying share awards.  As has been the case with the vesting of previous share awards, the vesting of the share awards that are the subject of this announcement is being satisfied using shares held in the EBT .  Following the vesting of these share awards, 1,073,490 shares will remain in the EBT.

- ends -

Enquiries
Chaarat Gold Holdings Limited	[phone]
Artem Volynets (CEO)	[e-mail]
Canaccord Genuity Limited (NOMAD and Joint Broker)	+ 44 (0)20 7523 8000
Henry Fitzgerald-O'Connor
James Asensio
finnCap Limited (Joint Broker)	[phone]
Christopher Raggett
Panmure Gordon (UK) Limited (Joint Broker)	[phone]
John Prior Hugh Rich

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 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		Martin Andersson
2		Reason for the notification
a)		Position / status		Director
b)		Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)		Currency		GBP
d)		Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 1,139,596
e)		Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 1,139,596 0
f)		Date of the transaction		15 April 2021
g)		Place of the transaction		XLON / Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Artem Volynets
2	Reason for the notification
a)	Position / status		Director
b)	Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)	Currency		GBP
d)	Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 946,343
e)	Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 946,343 0
f)	Date of the transaction		15 April 2021
g)	Place of the transaction		XLON / Outside a trading venue

1		Details of the person discharging managerial responsibilities / person closely associated
a)		Name		Darin Cooper
2		Reason for the notification
a)		Position / status		Person discharging managerial responsibilities
b)		Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)		Currency		GBP
d)		Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 398,789
e)		Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 398,789 0
f)		Date of the transaction		15 April 2021
g)		Place of the transaction		XLON / Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name		Christopher Eger
3	Reason for the notification
a)	Position / status		Person discharging managerial responsibilities
b)	Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)	Currency		GBP
d)	Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 428,098
e)	Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 428,098 0
f)	Date of the transaction		15 April 2021
g)	Place of the transaction		XLON / Outside a trading venue

1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Hussein Barma
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 65,862
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 65,862 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Robert Benbow
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of a restricted share award under an award/surrender agreement
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 360,284
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 360,284 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Robert Benbow
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 197,583
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 197,583 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Robert Edwards
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 65,862
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 65,862 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Warren Gilman
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 65,862
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 65,862 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Artem Volynets
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a restricted share award under an award/surrender agreement
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 371,213
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 371,213 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Gordon Wylie
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Vesting of a portion of restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 131,723
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 131,723 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Darin Cooper
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Grant of a restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 681,265
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 681,265 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1			Details of the person discharging managerial responsibilities / person closely associated
a)			Name		Christopher Eger
2			Reason for the notification
a)			Position / status		Director
b)			Initial notification / amendment		Initial notification
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		Grant of a restricted share award under 2019 Management Incentive Plan
c)			Currency		GBP
d)			Price(s) and volume(s)		Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 608,701
e)			Aggregated information		Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 608,701 0
f)			Date of the transaction		15 April 2021
g)			Place of the transaction		XLON / Outside a trading venue
1		Details of the person discharging managerial responsibilities / person closely associated
a)		Name			Darin Cooper
4		Reason for the notification
a)		Position / status			Person discharging managerial responsibilities
b)		Initial notification / amendment			Initial notification
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			Vesting of a restricted share award under 2019 Management Incentive Plan
c)		Currency			GBP
d)		Price(s) and volume(s)			Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 681,265
e)		Aggregated information			Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 681,265 0
f)		Date of the transaction			15 April 2021
g)		Place of the transaction			XLON / Outside a trading venue
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name			Christopher Eger
5	Reason for the notification
a)	Position / status			Person discharging managerial responsibilities
b)	Initial notification / amendment			Initial notification
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			Vesting of a restricted share award under 2019 Management Incentive Plan
c)	Currency			GBP
d)	Price(s) and volume(s)			Description of financial transaction Exercise price Volume Shares vested under 2019 Incentive Plan 0 608,701
e)	Aggregated information			Description of financial transaction Aggregated price Aggregated volume Total aggregated price Shares vested under 2019 Incentive Plan 0 608,701 0
f)	Date of the transaction			15 April 2021
g)	Place of the transaction			XLON / Outside a trading venue

 

END

 

 

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