() has issued just over 1.3mln new ordinary shares of US$0.01 each in settlement of loan agreement fees and following the exercise of warrants.
The loan agreement was with Labro, a company in which Martin Andersson, the executive chairman of Chaarat, is directly beneficially interested.
Following the issue Labro holds 165 mln shares in Chaarat, representing 35.15% of the company.
On 17 January 2020 the board - excluding Martin Andersson - exercised its discretion to waive the requirement for a mandatory offer for the company by Labro, to allow Labro to receive its 516,525 new ordinary shares.
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