TIDMCGH

RNS Number : 5046U

Chaarat Gold Holdings Ltd

31 December 2012

Chaarat Gold Holdings Limited

("Chaarat" or the "Company")

Issue of Share Options

Road Town, Tortola, British Virgin Islands (31 December 2012)

Chaarat (AIM - CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, announces that, in accordance with the Company's share option scheme and following approval by the Board, the following options were awarded to the directors of Chaarat today.

 
Director                       Options granted 
Dekel Golan                          1,286,250 
Alex Novak                             866,250 
Linda Naylor                           787,500 
Christopher Palmer-Tomkinson           150,000 
Rob Weinberg                           150,000

In addition to the above a further 1,627,184 options have been granted to certain employees on the same terms.

Under the terms of the scheme, the exercise price of the options is calculated at the date of grant using the 15 trading day volume weighted average share price prior to grant. At the date of grant the exercise price was calculated as 20p. The Board has decided that in order to set a more demanding target for employees the exercise price should be set at 25p. Accordingly all of the options are exercisable between 1 and 8 years from the date of grant at a price of 25p.

 
  Enquiries: 
     Chaarat Gold Holdings Limited                +44 (0) 20 7499 2612 
     c/o Central Asia Services Limited 
     Dekel Golan CEO                              dekel@chaarat.com 
     Linda Naylor FD                              linda.naylor@chaarat.com 
     Numis Securities Limited                     +44 (0) 20 7260 1000 
     Alastair Stratton, Stuart Skinner (NOMAD) 
     James Black (Broker) 
    College Hill                                               +44 (0) 20 7457 2020 
    Matthew Tyler                                              chaaratgold@collegehill.com 
    Anca Spiridon 
    Ali Roper 
 
 
    Further information is available at www.chaarat.com 
 
    NOTES TO EDITORS: 
    About Chaarat Gold 
    Chaarat Gold is an exploration and development 
    company operating in the Kyrgyz Republic. Situated 
    in the highly prospective Tien Shan gold belt the 
    Company's principal strategy is the development 
    of the Chaarat Gold Project with first gold production 
    targeted during 2013. Chaarat's key objective is 
    to become a low cost gold producer targeting annual 
    production of 200,000 ounces. 
    In addition to the Chaarat Gold Project, the Company 
    has several other promising prospects also located 
    within the Kyrgyz Republic. An exploration programme 
    is underway at both the Company's Chontash project, 
    located in the Akshirak range of mountains, as 
    well as at the Mironovskoye asset.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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