03:00 Fri 20 Sep 2019
Chaarat Gold Hlgs Ld - Grant of share awards & options & Issue of Equity
("Chaarat" or the "Company")
Notification of transactions of directors/persons discharging managerial responsibilities (PDMRs) - Grant of share awards and options & Issue of Equity
The information contained in this notification is disclosed in accordance with the requirements of the EU Market Abuse Regulation.
Chaarat (AIM:CGH), the AIM-quoted gold mining company with assets in the
In respect of the above, 21,585,108 new ordinary shares in the Company of
Following the admission of the New Ordinary Shares described above, and the other ordinary shares issuance announced by the Company today, the Company's enlarged issued share capital will comprise 441,371,565 ordinary shares of
Martin Andersson, Executive Chairman of Chaarat, said:
"Over the past year, Chaarat has refreshed its leadership, and now boasts a senior management team with extensive industrial expertise in building mines, in managing them, and in spotting untapped exploration potential. This Incentive Plan, which remunerates with locked-in shares and options rather than cash bonuses for top management, means the team are rewarded when all our shareholders are. As such, it is a great expression of their long-term commitment to Chaarat and their belief in our exciting prospects.
"I am grateful to our senior team and to our shareholders new and old for their continued support."
Enquiries
Enquiries
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John Prior, Paul Gillam (NOMAD) |
+44 (0) 20 7260 1000 |
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James Black (Corporate Broking) |
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SP Angel Ewan Leggat (Joint Broker)
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+44 (0) 20 3470 0470 |
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Charles Vivian Gareth Tredway
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+44 7977297903 +44 7785974264
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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
Chaarat is engaged in active community engagement programmes to optimise the value of the Chaarat investment proposition.
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.
Appendix
The terms of the Management Incentive Plan were disclosed in the Company's admission document published on
The first element of the scheme involves the conversion of vested options into restricted share units based on an issue price of 33p per ordinary share; these will have a holding period till the end of 2020. Restricted share units to be issued based on an issue price of 33p per ordinary share to replace unvested options will also have a one-year vesting period, and if an employee leaves during this period the unvested shares will lapse. The consent of the holders of the existing options is required for the conversion of their options to proceed. The Company anticipates that the majority of outstanding options will be converted into restricted share units.
The restricted share units to be issued under the second element of the scheme have a three-year vesting period; one-third of the award vests annually starting from 2019 principally for those participants who were engaged in the Company's business in the previous year. The remaining two thirds vest in equal tranches at the end of 2019 and 2020 and are subject to achievement by employees of individual key performance indicators established annually with the same consequences if an employee leaves. Delivery of vested ordinary shares will be made at the end of each calendar year. All vested ordinary shares are subject to a customary holding period until the end of 2020. The total number of shares to be issued under this second element will not exceed 19,758,351, 18,671,641 of which have been allocated.
The third element of the scheme is expected to comprise the issue of up to 59,275,053 options which will have a similar three year vesting period with the same consequences if an employee leaves.
The board has full discretion to amend the incentive scheme or adjust unvested ordinary shares and options.
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Martin Andersson |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Hussein Barma |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Robert Benbow |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Robert Edwards |
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1 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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2 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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3 |
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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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|
Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Chris Eger |
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2 |
Reason for the notification |
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a) |
Position / status |
Person discharging managerial responsibilities |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
||||||||||||
|
Identification code |
VGG203461055 |
||||||||||||
b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Warren Gilman |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
||||||||||||
|
Identification code |
VGG203461055 |
||||||||||||
b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Artem Volynets |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
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|
Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
|
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||||||||||||
f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Gordon Wylie |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
||||||||||||
|
Identification code |
VGG203461055 |
||||||||||||
b) |
Nature of the transaction |
Grant of a restricted share award under 2019 Management Incentive Plan |
||||||||||||
c) |
Currency |
GBP |
||||||||||||
d) |
Price(s) and volume(s) |
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e) |
Aggregated information
|
|
||||||||||||
f) |
Date of the transaction |
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||||||||||||
g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
a) |
Name |
Martin Andersson |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
|
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Hussein Barma |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Robert Benbow |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary shares of |
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Robert Edwards |
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2 |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
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|
Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Chris Eger |
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2 |
Reason for the notification |
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a) |
Position / status |
Person discharging managerial responsibilities |
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b) |
Initial notification / amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
|
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b) |
Legal entity identifier |
213800T2A5CV84VTFJ70 |
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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 instrument |
Ordinary shares of |
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|
Identification code |
VGG203461055 |
||||||
b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
||||||
c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
|
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e) |
Aggregated information
|
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||||||
f) |
Date of the transaction |
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||||||
g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
a) |
Name |
Warren Gilman |
||||||
2 |
Reason for the notification |
|||||||
a) |
Position / status |
Director |
||||||
b) |
Initial notification / amendment |
Initial notification |
||||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
a) |
Name |
|
||||||
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 instrument |
Ordinary shares of |
||||||
|
Identification code |
VGG203461055 |
||||||
b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
||||||
c) |
Currency |
GBP |
||||||
d) |
Price(s) and volume(s) |
|
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e) |
Aggregated information
|
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||||||
f) |
Date of the transaction |
|
||||||
g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
a) |
Name |
Artem Volynets |
||||||
2 |
Reason for the notification |
|||||||
a) |
Position / status |
Director |
||||||
b) |
Initial notification / amendment |
Initial notification |
||||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
a) |
Name |
|
||||||
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 instrument |
Ordinary shares of |
||||||
|
Identification code |
VGG203461055 |
||||||
b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
||||||
c) |
Currency |
GBP |
||||||
d) |
Price(s) and volume(s) |
|
||||||
e) |
Aggregated information
|
|
||||||
f) |
Date of the transaction |
|
||||||
g) |
Place of the transaction |
XLON / Outside a trading venue |
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
a) |
Name |
Gordon Wylie |
||||||
2 |
Reason for the notification |
|||||||
a) |
Position / status |
Director |
||||||
b) |
Initial notification / amendment |
Initial notification |
||||||
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
a) |
Name |
|
||||||
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 instrument |
Ordinary shares of |
||||||
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Identification code |
VGG203461055 |
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b) |
Nature of the transaction |
Grant of an option award under 2019 Management Incentive Plan |
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c) |
Currency |
GBP |
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d) |
Price(s) and volume(s) |
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e) |
Aggregated information
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|
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f) |
Date of the transaction |
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g) |
Place of the transaction |
XLON / Outside a trading venue |
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