Chaarat Gold Holdings Limited announced resolutions passed at the General Meeting held on 26 April 2019, according to which the company decided to extend the previously announced Capital Raising.
The BVI-registered gold mining company confirmed that to date gross proceeds made approximately US$1.34mln, from the issue of 3,433,897 new ordinary shares of USD 0.01 each at 30p per New Ordinary Share in the Placing. Also, there is the commitment to subscribe for US$10mln of Convertible Bonds which the company has already secured, as announced on 1 April 2019. The company expects to receive the subscription proceeds for the Convertible Bonds by 31 May 2019.
Admission of the New Ordinary Shares, which was applied for on the London Stock Exchange, is expected to be effective on 2 May 2019. Chaarat Gold Holdings received indication of additional demand for the Capital Raising., so it was decided to extend the closing date of the Placing and the Convertible Bond issue from 26 April 2019 to 3 May 2019.
Following the announcement made on 1 April 2019, the Company decided to increase the size of the Placing due to the demand from one of the leading global institutional investors.