CGH Chaarat Gold Holdings Ltd

 
TIDMCGH 
 
For immediate release                                      1 May 2009 
                      Chaarat Gold Holdings Ltd 
 
                    ("Chaarat" or "the Company") 
 
             Placing of 18.6 million new ordinary shares 
 
Road Town, Tortola, British Virgin Islands (1 May 2009). 
 
Chaarat (AIM:CGH, "the Company") announces that it has placed 
18,558,281 new Ordinary Shares (the 'Placing Shares') at 12p per 
share (together the 'Placing'), representing approximately 20.5% per 
cent of the issued ordinary share capital immediately after the 
Placing, to raise approximately GBP2.1million net of expenses for the 
Company. The shares are being placed with both existing and new 
investors, as well as directors of the Company. 
 
The funds will be used to complete the Prefeasibility Study and 
continue to undertake other activities aimed at enhancing shareholder 
value. Following completion of the Placing, the Company will have 
cash resources of approximately GBP2.3m. 
 
The Placing Shares are being issued credited as fully paid and will 
rank pari passu with the existing Ordinary Shares. 
 
The Company will apply for the Placing Shares to be admitted to 
trading on the AIM market of the London Stock Exchange and it is 
expected that Admission will take place and that trading will 
commence in such shares on or about 11 May 2009. 
 
Canaccord Adams has entered into a placing agreement with the Company 
pursuant to which Canaccord Adams agreed to use its reasonable 
endeavours to place the Placing Shares at the Placing Price. The 
Placing has not been underwritten. Christopher Palmer Tomkinson, 
Dekel Golan and Oliver Greene, all of whom are Directors, have agreed 
to subscribe in aggregate for 4,118,133 Ordinary Shares at the 
Placing Price. 
 
The placing of the Placing Shares is conditional upon, inter alia, 
Admission becoming effective and upon the Placing Agreement not being 
terminated in accordance with its terms. 
 
Upon Admission, the Company will have 90,441,714 Ordinary Shares of 
$0.01 each in issue (the "Enlarged Share Capital"). As such, the 
total number of voting rights which will be attached to the Enlarged 
Share Capital on the basis of one vote per ordinary share held will 
be 90,441,714. 
 
The above total voting rights figure may be used by Shareholders 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 FSA's Disclosure and 
Transparency Rules. 
 
Dekel Golan CEO comments: "The company is delighted with the success 
of this placing which has been supported by many of our existing 
shareholders and officers. The funds raised should we believe enable 
the company to meet its objective of completing the Prefeasibility 
Study, expected to be published during the second half of this year, 
as well as carrying out further exploration work aimed at increasing 
our resource estimate and providing greater confidence in the 
potential for the Chaarat Licence Area. 
 
 
About the Chaarat Gold Project 
 
The Chaarat project is situated within the Middle Tien Shan Mountains 
of Kyrgyzstan which form part of the Tien Shan gold belt.  At the 
completion of the 2008 exploration season a mineral resource of 
3.34Moz at a grade of 4.30 g/t gold (JORC compliant in the Indicated 
and Inferred categories) had been delineated. The Company's 
exploration programme is aimed at increasing the confidence levels in 
the resource through infill drilling through down-dip and 
along-strike extension drilling whilst developing a pre-feasibility 
study to demonstrate the economic viability of the deposit. 
 
 
About Chaarat Gold Holdings or the Company 
 
Chaarat Gold Holding is an exploration company founded for the 
purpose of developing the Chaarat License Area. Chaarat was admitted 
to AIM on 8 November 2007. 
 
 
Disclaimer 
This press release includes forward-looking statements. Such 
forward-looking statements involve known and unknown risks, 
uncertainties and other important factors beyond Chaarat's control 
that would cause the actual results, performance or achievements of 
Chaarat to be materially different from future results, performance 
or achievements expressed or implied by such forward-looking 
statements. Such forward-looking statements are based on numerous 
assumptions regarding Chaarat's present and future business 
strategies and the environment in which Chaarat will operate in the 
future. Any forward-looking statements speak only as at the date of 
this document. Chaarat expressly disclaims any obligation or 
undertaking to disseminate any updates or revisions to any 
forward-looking statements contained in this document to reflect any 
change in Chaarat's expectations with regard to these or any change 
in events, conditions or circumstances on which any such statements 
are based. As a result of these factors, the events described in the 
forward-looking statements in this press release may not occur either 
partially or at all. 
 
Enquiries: 
 
Chaarat Gold Holdings Ltd 
c/o Central Asia Services Ltd Tel: +44 (0) 20 7499 2612 
Dekel Golan                   dekel@chaarat.com 
Harry Lopes                   harry.lopes@chaarat.com 
 
Canaccord Adams Limited       Tel:  +44 (0) 20 7050 6500 
Mike Jones 
 
Smith's Corporate Advisory    Tel: +44 (0) 20 7239 0140 
Dominic Palmer-Tomkinson      tomkinson@smiths-ca.com 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

Chaarat Gold (LSE:CGH)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Chaarat Gold (LSE:CGH)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024