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Chaarat Gold Holdings Ltd

Chaarat board waives requirement for mandatory offer from major shareholder Labro

The waiver has an expiration date, but could be extended

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Labro also holds US$1mln in convertible loans, as well as warrants

Chaarat Gold Holdings Ltd (LON:CGH) has waived the requirement for major shareholder Labro to make a mandatory offer for the company on the acquisition of a further 4mln shares.

Labro already holds 139,841,969 shares, amounting to approximately 34.8% of Chaarat's issued share capital as well as 21,367,521 warrants and US$1mln worth of convertible loan notes.

WATCH: Chaarat Gold makes strong start to 2019 exploration programme at Tulkubash

There is a provision in the company's articles of association which states that the board has the right to require any holder of more than 20% to make a mandatory offer if they acquire an additional interest.

The board has previously exercised its discretion to waive the requirement for a mandatory offer when Labro has acquired additional shares.

 

Quick facts: Chaarat Gold Holdings Ltd

Price: £0.26

Market: AIM
Market Cap: £106.55 m
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Watch

Chaarat Gold makes strong start to 2019 exploration programme at Tulkubash

Chaarat Gold Holdings Ltd's (LON:CGH) Dusty Nicol updates Proactive London's Andrew Scott on their 2019 exploration and drilling programme at the Tulkubash gold project. Over 3,800 metres of drilling's already been completed, with a minimum of 20,000 metres scheduled as part of the...

on 19/6/19

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