13 January 2023
Chaarat Gold Holdings Limited
("Chaarat" or the "Company")
Change of auditor
Chaarat (AIM:CGH), the AIM-quoted gold mining company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic announces the resignation of Deloitte LLP ("Deloitte") as auditor and the appointment of MacIntyre Hudson LLP t/a MHA Macintyre Hudson, the UK member of Baker Tilly International, ("MHA") as its new auditor with immediate effect.
The resignation of Deloitte follows the closure of its office in Armenia which is the location of a significant portion of Chaarat's operations. Deloitte was unable to identify an approach that would enable it to perform the Group's audit for the year ended 31 December 2022 to the required level of audit quality given the significance of Chaarat's Armenian operations to the Company. Deloitte has therefore formally resigned.
MHA will conduct the audit of the Company's financial statements for the financial year to 31 December 2022. The appointment of MHA as auditor for the following financial year will be subject to approval by shareholders at the next Annual General Meeting of the Company to be held in 2023.
The Board looks forward to working with MacIntyre Hudson. The Board wishes to take this opportunity to thank Deloitte for its services and support since its appointment in October 2021.
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| Enquiries | |
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| Chaarat Gold Holdings Limited | +44 (0)20 7499 2612 |
| Mike Fraser (Chief Executive Officer) | |
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| Canaccord Genuity Limited (NOMAD and Joint Broker) | +44 (0)20 7523 8000 |
| Henry Fitzgerald-O'Connor |
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| James Asensio | |
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| finnCap Limited (Joint Broker) | +44 (0)20 7220 0500 |
| Christopher Raggett |
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| Panmure Gordon (UK) Limited (Joint Broker) | +44 (0)20 7886 2500 |
| John Prior Hugh Rich |
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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 Kyrgyz Republic. The Company has a clear strategy to build a leading emerging markets gold company through organic growth and selective M&A.
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/.
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