Tuesday, September 15, 2009

BVI-registered Chaarat Gold Holdings receives government approval for subscription by Chinese company

British Virgin Islands-registered holding company Chaarat Gold Holdings Ltd announced that it received the regulatory approval of the Chinese Government concerning the subscription by China Nonferrous Metals Int'l Mining Co Ltd (CNMIM) for 22,469,289 shares in the BVI company at 25p per share. The signing of subscription agreement between Chaarat Gold Holdings and CMIM was announced in July 2009. Now, upon the receive of government approval, the BVI company applied for the admission of placing shares to trading on the London Stock Exchange AIM market. The admission is expected to take place on or about September 14, 2009.

Following the admission of the placing shares, the existing issued share capital of Chaarat Gold Holdings will increase from 90,441,714 ordinary shares of $0.01 each to 112,911,003 ordinary shares. The total number of voting rights which will be attached to the enlarged share capital on the basis of one vote per ordinary share will be 112,911,003.