TIDMCGH
RNS Number : 6696X
Chaarat Gold Holdings Ltd
22 December 2023
22 December 2023
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Award & Concurrent Cancellation of Options
Chaarat Gold (AIM: CGH), the AIM-quoted gold mining company,
with development projects in the Kyrgyz Republic, is pleased to
announce the introduction of a rationalised share option package
for the Board and the concurrent cancellation of certain historic
options.
The Board recognises the importance of share options to
appropriately incentivise and retain talent as well as to ensure
their interests are aligned with that of the Company and its
shareholders. Following a review, the Remuneration Committee of the
Board recommended that, given the operational and corporate changes
during 2023, the directors' share options package was no longer
appropriate and that it should be replaced to re-align the option
scheme with the current strategic focus of the Company (as a
development company, rather than a current producer). The Board of
Directors approved this recommendation and is issuing a new set of
options.
Accordingly, the Company has cancelled, with mutual agreement
and immediate effect, 20,449,894 options over Ordinary Shares (the
"Historic Options").
On 20 December 2023 (the "Grant Date"), the Company granted a
total of 22,500,000 options over Ordinary Shares (the "New
Options"), a portion of which are to replace the Historic Options
alongside the grant of options to a new holder - as detailed
below.
PDMR Number of Exercise Number of Total number
New Options Price of New Historic Options of options
Granted Options Granted cancelled held following
the grant
and cancellation
of options
Martin Andersson 15,000,000 GBP0.20 16,300,639 15,000,000
------------- ----------------- ------------------ ------------------
Robert Benbow 1,500,000 GBP0.20 1,778,252 1,500,000
------------- ----------------- ------------------ ------------------
Gordon Wylie 1,500,000 GBP0.20 1,185,501 1,500,000
------------- ----------------- ------------------ ------------------
Robert Edwards 1,500,000 GBP0.20 592,751 1,500,000
------------- ----------------- ------------------ ------------------
Hussein Barma 1,500,000 GBP0.20 592,751 1,500,000
------------- ----------------- ------------------ ------------------
Sandy Stash 1,500,000 GBP0.20 - 1,500,000
------------- ----------------- ------------------ ------------------
Total 22,500,000 N/A 20,449,894 22,500,000
------------- ----------------- ------------------ ------------------
The New Options granted vest in two equal tranches on the first
and second anniversaries of the Grant Date and expire five years
from the Grant Date.
Following the cancellation of the Historic Options and grant of
the New Options, the Company now has 37,852,880 options outstanding
over a total of 728,056,182 existing Ordinary Shares.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
For further information visit www.chaarat.com or please
contact:
+44 (0)20 7499
Chaarat Gold Holdings Limited 2612
David Mackenzie (Chief Financial Officer) IR@chaarat.com
+ 44 (0)20 7409
Strand Hanson Limited (Nominated Adviser) 3494
Ritchie Balmer / James Spinney / Robert
Collins
Axis Capital Markets Limited (Joint +44 (0)20 3026
Broker) 0449
Ben Tadd / Lewis Jones
Panmure Gordon (UK) Limited (Joint + 44 (0)20 7886
Broker) 2500
John Prior / Hugh Rich
About Chaarat
Chaarat is an exploration and development company which owns the
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.
The notification below, made in accordance with the requirements
of the UK Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1. Details of the person discharging managerial responsibilities / person closely associated
a) Name i) Martin Andersson Executive Chairman
-------------------------------------------------------
ii) Robert Benbow Non-Executive Director
-------------------------------------------------------
iii) Gordon Wylie Senior Independent Director
iv) Robert Edwards Independent Non-Executive Director
v) Hussein Barma Independent Non-Executive Director
2. Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position / status See 1(a) above
------------------------------------------------------- --------------------------------------------------------
b) Initial notification / amendment Initial notification
------------------------------------------------------- --------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Chaarat Gold Holdings Limited
------------------------------------------------------- --------------------------------------------------------
b) Legal entity identifier 213800T2A5CV84VTFJ70
------------------------------------------------------- --------------------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Ordinary shares of US$0.01 each
instrument
Identification code VGG203461055
------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Cancellation of Options
------------------------------------------------------- --------------------------------------------------------
c) Currency GBP
------------------------------------------------------- --------------------------------------------------------
d) Price(s) and volume(s) Name Price(s) Volume(s)
Martin Andersson GBP0.42 16,300,639
---------- -----------
Robert Benbow GBP0.42 1,778,252
---------- -----------
Gordon Wylie GBP0.42 1,185,501
---------- -----------
Robert Edwards GBP0.42 592,751
---------- -----------
Hussein Barma GBP0.42 592,751
---------- -----------
------------------------------------------------------- --------------------------------------------------------
e) Aggregated information
* Aggregated volume 20,449,894
N/A
* Aggregated price
------------------------------------------------------- --------------------------------------------------------
f) Date of the transaction 20 December 2023
------------------------------------------------------- --------------------------------------------------------
g) Place of the transaction XLON
------------------------------------------------------- --------------------------------------------------------
1. Details of the person discharging managerial responsibilities / person closely associated
a) Name i) Martin Andersson Executive Chairman
-------------------------------------------------------
ii) Robert Benbow Non-Executive Director
-------------------------------------------------------
iii) Gordon Wylie Senior Independent Director
iv) Robert Edwards Independent Non-Executive Director
v) Hussein Barma Independent Non-Executive Director
vi) Sandy Stash Independent Non-Executive Director
------------------------------------------------------- -------------------- ----------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position / status See 1(a) above
------------------------------------------------------- --------------------------------------------------------
b) Initial notification / amendment Initial notification
------------------------------------------------------- --------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Chaarat Gold Holdings Limited
------------------------------------------------------- --------------------------------------------------------
b) Legal entity identifier 213800T2A5CV84VTFJ70
------------------------------------------------------- --------------------------------------------------------
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of Ordinary shares of US$0.01 each
instrument
Identification code VGG203461055
------------------------------------------------------- --------------------------------------------------------
b) Nature of the transaction Grant of Options
------------------------------------------------------- --------------------------------------------------------
c) Currency GBP
------------------------------------------------------- --------------------------------------------------------
d) Price(s) and volume(s) Name Price(s) Volume(s)
Martin Andersson GBP0.20 15,000,000
---------- -----------
Robert Benbow GBP0.20 1,500,000
---------- -----------
Gordon Wylie GBP0.20 1,500,000
---------- -----------
Robert Edwards GBP0.20 1,500,000
---------- -----------
Hussein Barma GBP0.20 1,500,000
---------- -----------
Sandy Stash GBP0.20 1,500,000
---------- -----------
------------------------------------------------------- --------------------------------------------------------
e) Aggregated information
* Aggregated volume 22,500,000
N/A
* Aggregated price
------------------------------------------------------- --------------------------------------------------------
f) Date of the transaction 20 December 2023
------------------------------------------------------- --------------------------------------------------------
g) Place of the transaction XLON
------------------------------------------------------- --------------------------------------------------------
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END
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