Chaarat Gold Hlgs Ld - Grant of Waiver
("Chaarat" or the "Company")
Grant of waiver
Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the
Shareholders will recall that Labro holds:
· 139,841,969 Ordinary Shares representing approximately 34.8 per cent of Chaarat's issued share capital;
· 21,367,521 warrants to subscribe for Ordinary Shares (the "Labro Warrants"); and
· Convertible Loan Notes for
There is a provision in the Company's Articles of Association (the "Articles") (Article 19) which states that the Board has the right to require any holder of more than 20% of the Ordinary Shares to make a mandatory offer to all the Company's shareholders to acquire their Ordinary Shares if they acquire an additional interest in any Ordinary Shares. The Board has previously exercised its discretion to waive the requirement for a mandatory offer when Labro (which holds more that 20% of the Ordinary Shares) has acquired additional Ordinary Shares.
The Board most recently exercised the same discretion for the acquisition of up to 5,000,000 Ordinary Shares by Labro in the market. This expired on
If the maximum number of Ordinary Shares permitted to be purchased pursuant to the Labro Share Purchase are acquired within such a period by way of the acquisition of existing Ordinary Shares in accordance with the Waiver (and assuming no issue of Ordinary Shares during such period by the Company, including on exercise of existing warrants or options issued by the Company or on conversion of any convertible loan notes issued by the Company), Labro would hold 143,841,969 Ordinary Shares representing 35.77% of the issued share capital as of
The Company is grateful to Labro and its shareholders for their continued support.
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+44 (0)20 7499 2612
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+44 (0) 20 7260 1000
+44 (0)20 7250 1446
Chaarat is a gold mining company which owns the Kapan operating mine in
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.
This information is provided by RNS, the news service of the
Quick facts: Chaarat Gold Holdings Ltd
Market Cap: £198.02 m
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