Chaarat Gold Holdings Ltd Conditional Preliminary Investment Agreement (2582B)
01 Junho 2023 - 3:00AM
UK Regulatory
TIDMCGH
RNS Number : 2582B
Chaarat Gold Holdings Ltd
01 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR
FOR IMMEDIATE RELEASE
1 June 2023
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Conditional Preliminary Investment Agreement for US$250
million
Chaarat Gold (AIM: CGH), a AIM-quoted gold mining Company with
an operating mine in Armenia, and assets at various stages of
development in the Kyrgyz Republic, is pleased to announce the
signing of a conditional preliminary investment agreement ("PIA")
and a strategic co-operation agreement with Xiwang International
Company Limited ("Xiwang") in respect of a potential equity
investment of US$250 million (the "Investment").
As previously disclosed, the purpose of this potential
Investment would be to support the development of Chaarat's organic
pipeline and facilitate external growth through value-added
acquisitions. Subject to meeting certain conditions precedent, it
is proposed that the Investment will be in the form of a new issue
of shares in Chaarat at a price of GBP0.20 per share, resulting in
Xiwang holding 60% of the shares in Chaarat.
Completion of the potential Investment is contingent upon
meeting several conditions. These conditions include the passing of
shareholder resolutions at a general meeting of Chaarat
shareholders to implement the Investment, entry into a shareholder
relationship agreement, Xiwang completing its financing to effect
the Investment, both parties completing due diligence, and
obtaining all required corporate and regulatory approvals. If all
conditions are met, the parties are targeting completion by 30 July
2023.
It should be noted that the PIA and strategic cooperation
agreement are both conditional and there is no guarantee at this
stage that the proposed Investment will be completed. Further
announcements will be made as appropriate.
Martin Andersson, Executive Chair of Chaarat, said:
" We have now progressed beyond the letter of intent stage to
conditional agreements within the agreed timeline. We look forward
to working with our prospective partners to achieve completion of
the Investment by our target of the end of July 2023."
Kenny Song, Chair of Xiwang, said:
" We are pleased to have progressed our discussions with Chaarat
to this point. As we enter the final stage of our due diligence
process, we are planning a site visit to Chaarat's Kyrgyz assets in
June. We are confident that we can support Chaarat's strategy to
create a high-quality portfolio of mining assets on a global
basis."
Enquiries
Chaarat Gold Holdings Limited +44 (0)20 7499 2612
Mike Fraser (Chief Executive Officer) ir@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 through organic growth and
selective M&A.
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 .
About Xiwang
Xiwang International Company Ltd (Xiwang) is an investment
company incorporated in the British Virgin Islands. As part of its
long-term strategic investment plan, Xiwang is looking to create a
significant portfolio of mining assets and resources on a global
basis by partnering with and providing funding to listed public
operating companies with strong governance, focussed on disciplined
capital allocation and shareholder value creation.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRFFFILEDILVIV
(END) Dow Jones Newswires
June 01, 2023 02:00 ET (06:00 GMT)
Chaarat Gold (AQSE:CGH.GB)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Chaarat Gold (AQSE:CGH.GB)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024