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Chaarat chairman Andersson takes his stake to 35.33% after exercise of warrants

Andersson has been a key figure in the revitalisation and recapitalisation of Chaarat over the past couple of years

Chaarat Gold Holdings Ltd -
Chaarat is developing the Tulkubash gold project in Kyrgyzstan, and also owns a producing gold mine in Armenia.

Labro Investments Ltd, a company in which the chairman of Chaarat Gold Holdings Ltd (LON:CGH) Martin Andersson holds a majority interest, has exercised all 21.4mln of its warrants to subscribe for Chaarat shares.

The issuing of the new shares also served to offset more than US$700,000 in loans made by Labro to Chaarat.

Following the issuing of the new shares, Labro will hold just over 161mln shares in Chaarat, representing 35.33% of the issued share capital.

The board had previously waived the requirement of Andersson to make a mandatory offer for the company after going over the 30% threshold, as it is entitled to do under the company’s articles of association.

 

Quick facts: Chaarat Gold Holdings Ltd

Price: 35.6 GBX

AIM:CGH
Market: AIM
Market Cap: £166.9 m
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