Chaarat Gold Noteholders Respond to Redemption Proposal Amid Concerns
On February 3, 2026, a collective of holders of the Senior Secured Convertible Loan Notes due in 2028, issued by Chaarat Gold Holdings Limited, made their voices heard regarding the company's recent repayment proposal. Chaarat Gold announced its intention to repay these notes in full on February 13, 2026, using the proceeds from the sale of its stake in Zaav Holdings Ltd to SilverCorp Metals Inc. While the group is fundamentally amenable to transactions that secure a rapid repayment of these notes, there is a demand for transparency concerning the process.
The group's stance is clear: in order to meaningfully assess Chaarat's redemption proposal, essential information about the notes must be disclosed to all holders. In light of this, a representative from the group formally reached out to Chaarat Gold to request pertinent information and to pose several inquiries, particularly regarding the intended use of the proceeds from the sale and the transaction fees involved.
To date, Chaarat Gold has not provided any of the requested information, insisting that holders sign a non-disclosure agreement (NDA) before revealing any details. This NDA stipulates confidentiality obligations that could last up to 5 years, despite the short window before the proposed buyback of the notes occurs. In light of these developments, the group is advocating for Chaarat Gold to urgently release key information to all noteholders without requiring an NDA.
The requested documentation includes:
Additionally, the group suggests facilitating a pro forma confidentiality agreement that noteholders may sign if they wish to seek further information from Chaarat Gold. This step is to ensure that all noteholders are bound by the same confidentiality terms when discussing their concerns with the company.
To represent their interests, the group is receiving counsel from Cleary Gottlieb Steen & Hamilton LLP. Noteholders who have questions or wish to engage with the group have been encouraged to contact the law firm directly through the provided email.
As the situation develops, it remains essential for Chaarat Gold to maintain open lines of communication with its noteholders. Transparency could very well pave the way for a smoother transaction and foster trust among investors within the company. As financial situations evolve rapidly, it is imperative for stakeholders to remain informed and engaged with corporate actions that impacts their investments. The coming week will be critical as the proposed repayment date approaches, and the response from Chaarat Gold will likely play a pivotal role in shaping the trust and satisfaction of its stakeholders.
The group's stance is clear: in order to meaningfully assess Chaarat's redemption proposal, essential information about the notes must be disclosed to all holders. In light of this, a representative from the group formally reached out to Chaarat Gold to request pertinent information and to pose several inquiries, particularly regarding the intended use of the proceeds from the sale and the transaction fees involved.
To date, Chaarat Gold has not provided any of the requested information, insisting that holders sign a non-disclosure agreement (NDA) before revealing any details. This NDA stipulates confidentiality obligations that could last up to 5 years, despite the short window before the proposed buyback of the notes occurs. In light of these developments, the group is advocating for Chaarat Gold to urgently release key information to all noteholders without requiring an NDA.
The requested documentation includes:
- - A copy of the active note instrument.
- - A detailed calculation of accrued interest on the notes due at the proposed redemption date.
Additionally, the group suggests facilitating a pro forma confidentiality agreement that noteholders may sign if they wish to seek further information from Chaarat Gold. This step is to ensure that all noteholders are bound by the same confidentiality terms when discussing their concerns with the company.
To represent their interests, the group is receiving counsel from Cleary Gottlieb Steen & Hamilton LLP. Noteholders who have questions or wish to engage with the group have been encouraged to contact the law firm directly through the provided email.
As the situation develops, it remains essential for Chaarat Gold to maintain open lines of communication with its noteholders. Transparency could very well pave the way for a smoother transaction and foster trust among investors within the company. As financial situations evolve rapidly, it is imperative for stakeholders to remain informed and engaged with corporate actions that impacts their investments. The coming week will be critical as the proposed repayment date approaches, and the response from Chaarat Gold will likely play a pivotal role in shaping the trust and satisfaction of its stakeholders.
Topics Financial Services & Investing）
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