Successful completion of block trade

RNS Number : 2335N

Chaarat Gold Holdings Ltd

24 October 2016

 

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Successful completion of block trade

Road Town, Tortola, British Virgin Islands (24^th October 2016)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, is pleased to welcome new shareholders to the share register following the successful completion of a block trade.

On 21^st October a block trade of 11,671,832 ordinary shares of US$0.01 each, representing 3.3% of the issued share capital of the Company, was completed at a price of 8.5 pence per share (a discount of 1.4% to the closing market price on 21^st October) to place the entire shareholding of First State Investment Management (UK) Limited. More than 50% of these shares were taken up by new shareholders.

Dekel Golan CEO commented: "It is very pleasing that the demand for the shares made available resulted in an oversubscribed order book which ensured the transaction was executed at only a small discount to the prevailing market price.

We are very appreciative of the support First State has shown to Chaarat since our admission to AIM in 2007. The successful completion of this block trade is due in no small part to their willingness to engage with us to effect an orderly exit from the Chaarat share register."

Following the purchase of 587,647 ordinary shares Labro Investments Limited ("Labro") held 113,764,572 ordinary shares of US$0.01 each, representing 32.3% of the issued share capital of the Company. Martin Andersson (the Chairman of Chaarat) is indirectly beneficially interested in the majority of the shares in Labro.

Martin Wiwen-Nilsson, a non-executive director of Chaarat, held 8,476,010 ordinary shares of US$0.01 each, representing 2.4% of the issued share capital of the Company following the purchase of 1,150,000 ordinary shares.

Sarastro Group Limited ("Sarastro") held 16,021,166 ordinary shares of US$0.01 each, representing 4.6% of the issued share capital of the Company following the purchase of 2,550,000 ordinary shares.

In accordance with the announcement dated 27 September 2016, 11,712,996 ordinary shares of US$0.01 each may be acquired by the concert party (consisting of Labro, Martin Wiwen-Nilsson, Dominik Dolenec, Abingdon Trust, Willem De Geer and Sarastro) within a period of six months from 1 October 2016 without triggering a requirement to make a mandatory offer under the Articles of Association of the Company. 

Enquiries:  

Chaarat Gold Holdings Limited	+ 44 (0) 20 7499 2612
c/o Central Asia Services Limited	[e-mail]
Dekel Golan   CEO                   Linda Naylor  FD
Numis Securities Limited	[phone]
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/Entity closely associated with the Chairman
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	N/A
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 Identification code	Ordinary shares of US$0.01 each VGG203461055
b)	Nature of the transaction	Acquisition of ordinary shares in a block trade
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			8.5085 pence	587,647
e)	Aggregated information ·      Aggregated volume ·      Aggregated price ·      Aggregated total	587,647 8.5085 pence
f)	Date of the transaction	21 October 2016
g)	Place of the transaction	United Kingdom

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Martin Wiwen-Nilsson
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	N/A
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 Identification code	Ordinary shares of US$0.01 each VGG203461055
b)	Nature of the transaction	Acquisition of ordinary shares in a block trade
c)	Currency	GBP
d)	Price(s) and volume(s)		Price(s)	Volume(s)
			8.5085 pence	1,150,000
e)	Aggregated information ·      Aggregated volume ·      Aggregated price ·      Aggregated total	1,150,000 8.5085 pence
f)	Date of the transaction	21 October 2016
g)	Place of the transaction	United Kingdom

 

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