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Chaarat Gold Hlgs Ld (CGH)

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Tuesday 20 April, 2021

Chaarat Gold Hlgs Ld

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

+44 (0)20 7499 2612

Artem Volynets (CEO)

[email protected]



Canaccord Genuity Limited (NOMAD and Joint Broker)

+ 44 (0)20 7523 8000

Henry Fitzgerald-O'Connor


James Asensio




finnCap Limited (Joint Broker)

+44 (0)20 7220 0500

Christopher Raggett




Panmure Gordon (UK) Limited (Joint Broker)

+44 (0)20 7886 2500

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

 

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