REG - Chaarat Gold Hlgs Ld - Option grant and equity issue

Chaarat Gold HoldingsAnnouncement

19/01/2022 07:05

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RNS Number : 8826Y  Chaarat Gold Holdings Ltd  19 January 2022

19 January 2022

 

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

 

Option grant and equity issue

 Chaarat (AIM:CGH), the AIM-quoted gold mining company with an operating mine
 in Armenia, and assets at various stages of development in the Kyrgyz
 Republic, announces that Mike Fraser, who joined Chaarat's board on 17 January
 2022 as the Company's Chief Executive Officer, has been granted options over
 five million ordinary shares (the "Options") of US$0.01 each in the Company
 under the Chaarat Gold Holdings Limited Management Incentive Plan 2019 (the
 "MIP").  The Options are exercisable at a price of £0.42 per share between
 18 January 2022 and 18 January 2027 subject to the rules of the MIP.  The
 Company has also agreed to pay to Mr Fraser a sign-on bonus of US$62,500
 payable through the issue of 255,935 ordinary shares of US$0.01 each in the
 capital of the Company (the "New Ordinary Shares").  Mr Fraser has no other
 interests in the share capital of the Company.

 An application has been made to the London Stock Exchange for the New Ordinary
 Shares to be admitted to trading on AIM, and it is expected that admission
 will become effective at or around 8:00am (London time) on 24 January 2022.

 Following admission of the New Ordinary Shares the Company's enlarged issued
 share capital will comprise 689,668,088 ordinary shares of US$0.01 each.
 This figure may be used by shareholders of the Company as the denominator for
 the calculations by which they will determine whether they are required to
 notify their interests in, or a change to their interest in, the Company under
 the Financial Conduct Authority's Disclosure Guidance and Transparency Rules
 Sourcebook.

- ends -

 

 Enquiries
 Chaarat Gold Holdings Limited                       +44 (0)20 7499 2612
 Martin Andersson (Executive Chairman)               info@chaarat.com (mailto:info@chaarat.com)
 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 former Soviet Union 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.

 

 

Appendix - PDMR forms

 

 1.                        Details of the person discharging managerial responsibilities / person closely
                           associated
 a)                        Name                                                         Michael John Fraser
 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 an option award under the 2019 Management Incentive Plan
 c)                        Currency                                                     GBP
 d)                        Price(s) and volume(s)                                                          Exercise Price(s)  Volume(s)
                                                                                                           £0.42 per share    5,000,000
 e)                        Aggregated information

                           ·      Aggregated volume                                     5,000,000

                           ·      Aggregated price                                      42.00000 pence per share

                           ·      Aggregated total                                      £2,100,000
 f)                        Date of the transaction                                      18 January 2022
 g)                        Place of the transaction                                     Outside of a trading venue

 

 1.                        Details of the person discharging managerial responsibilities / person closely
                           associated
 a)                        Name                                                           Michael John Fraser
 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                                      Acquisition by way of a new share issue
 c)                        Currency                                                       GBP
 d)                        Price(s) and volume(s)                                                           Price(s)          Volume(s)
                                                                                                            0.1790            255,935
 e)                        Aggregated information

                           ·      Aggregated volume                                       255,935

                           ·      Aggregated price                                        17.90 pence

                           ·      Aggregated total                                        £45,812.37
 f)                        Date of the transaction                                        18 January 2022
 g)                        Place of the transaction                                       Outside of a trading venue

 

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