Chagala Group Limited (Chagala or the ‘Company’) hereby advises that the Portola Group Limited has purchased an additional 236,522 GDRs in Chagala. The share purchase was completed on 4 December, 2014 and brings Portola’s ownership stake in the Company to 22,018,376 shares representing 25.9% of the total issued and outstanding shares. The Portola Group Limited is owned by a trust with over 6 members represented by Mr. Javier Del Ser, a Non Executive Director with the Company.
Francisco Parrilla, CEO of the Chagala Group commented that “We are pleased to see the Portola Group continuing to increase its position in the Company and see this as an ongoing vote of confidence in our business and our future.”
Chagala is a service company focused on providing long and short term accommodation solutions to domestic and international oil and gas companies developing Kazakhstan’s largest hydrocarbon discoveries. With the ownership of hotels, guest houses, serviced apartments, remote site facilities, restaurants and offices in its portfolio, Chagala is well positioned to capitalize on the oil and gas investment being made in Kazakhstan.
For more information:
Francisco Parrilla, Chief Executive
Chagala Group Limited
+ 7 (727) 298 0131