22nd Oct 2021 21:30
Chaarat Gold Holdings Ltd - gold miner in Armenia and mine developer in Kyrgyz Republic - Extends maturity of secured convertible loan notes by one year to October 31, 2022.
Loan notes have a conversion price of 37 pence per share ad a 10% interest rate per annum, which was increased to 12% with effect on April 30, 2020.
As at the end of October 2021, principal amount outstanding for notes would have been USD19.7 million with USD6.7 million accrued interest.
"Chaarat had good discussions with the note holders and is grateful for the continued support with a solution beneficial to all parties. The maturity extension allows the Company to continue its organic and other growth plans," says Chief Financial Officer Chris Eger.
Current stock price: 22.90 pence
Year-to-date change: down 0.7%
By Dayo Laniyan; [email protected]
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