Chariot Limited - Grant of Deferred Share Awards
RNS Number : 3072XChariot Limited02 October 2026
2 October 2026
Chariot Limited
("Chariot", the "Company")
Grant of Deferred Share Awards and Amendment of Historic Awards
In line with best practice corporate governance for AIM companies, Chariot remunerates its Directors through an appropriate mix of cash and share awards, aligning their interests with those of shareholders. The Executive Directors have delivered a number of material milestones across the business, including two material transactions providing economic exposure to producing oil interests in Angola, and significant financing and commercial progress in Renewable Power, as part of a strategic repositioning of the company to focus on value from upstream oil & gas.
Reflecting the extent to which pre-defined corporate objectives were achieved during the performance period for the year to 30 June 2026, the following Directors were granted deferred share awards in the form of nil cost options over ordinary shares (“Ordinary Shares”) on 2 October 2026 under the Company's Long Term Incentive Share Scheme. These share awards will vest in three equal instalments on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
Directors
Position
Number of Shares Awarded
Adonis Pouroulis
Chief Executive Officer
20,253,165
Julian Maurice-Williams
Chief Financial Officer
15,189,873
Duncan Wallace
Technical Director
11,392,405
Salary reduction awards
Since 1 October 2024, the Directors have accepted a reduction in cash basic remuneration as part of the Company's ongoing focus on capital discipline and preservation of cash. In recognition of the cash remuneration foregone, the Board has approved additional nil cost share awards on 2 October 2026 equivalent to the value of that remuneration foregone which will vest on 30 June 2027.
Directors
Position
Number of Shares Awarded
Andrew Hockey
Non-Executive Chairman
2,581,0861
Chris Zeal
Non-Executive Director
1,548,6511
Adonis Pouroulis
Chief Executive Officer
10,324,3432
Julian Maurice-Williams
Chief Financial Officer
7,743,2572
Duncan Wallace
Technical Director
7,743,2572
1 Granted under the Non-Executive Directors’ Restricted Share Unit Plan
2 Granted under the Long Term Incentive Share Scheme
Matching awards
In accordance with the Company’s Non-Executive Directors’ Restricted Share Unit Plan on 2 October 2026, Chairman Andrew Hockey was granted 714,285 matching share awards over Ordinary Shares in the Company. The awards were granted to match the purchase of shares made by Andrew Hockey on 12 March 2026. The matching awards are conditional on retention of such purchased shares until the awards vest. The matching share awards will vest in three equal instalments on 12 March 2027, 12 March 2028 and 12 March 2029.
Historic share awards amended
Certain historic share awards held by certain Directors have either expired or are due to expire during 2026 without having been exercised. In recognition of their long-standing commitment to the Company, and having not exercised previously vested awards, where all conditions have been met, the Board has approved an extension to the exercise period of the relevant awards to 2 October 2029. To the extent any such awards have already expired under the plans, equivalent replacement awards have been granted on the same basis and with the same extended expiry period. The effect on the number of shares subject to awards held by the Directors is net neutral (i.e. the same number of shares will be outstanding under all share awards held by the Directors).
Directors
Position
Number of Shares Awards
Adonis Pouroulis
Chief Executive Officer
72,4633
Julian Maurice-Williams
Chief Financial Officer
1,302,6914
Duncan Wallace
Technical Director
637,5004
3 Granted under the Non-Executive Directors’ Restricted Share Unit Plan, whilst Adonis Pouroulis was a Non-Executive Director
4 Granted under the Long Term Incentive Share Scheme
Enquiries
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams, CFO
+44 (0)20 7318 0450
Cavendish Capital Markets Limited (Nomad and Joint Broker)
Derrick Lee, Hanna Leijonmarck
+44 (0)20 7397 8900
Hannam & Partners (Joint Broker)
Neil Passmore, Leif Powis
+44 (0)20 7907 8500
Celicourt Communications (Financial PR)
Mark Antelme, Kathleen Beams
+44 (0)20 7770 6424
NOTES FOR EDITORS:
Chariot is an Africa-focused energy group with two business streams: Upstream Oil and Gas and Renewable Power.
Chariot’s Upstream Oil and Gas pillar is focused on building out a full-value-chain growth business within Africa. Alongside securing a footprint in Angola, Chariot holds a diverse portfolio in Morocco and is pursuing a range of new ventures with a focus on production.
Chariot’s Renewable Power business is focused on providing competitive, sustainable and reliable energy through building, generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining projects on the continent. Chariot is also continuing to work across its green hydrogen assets in Mauritania.
As recently announced, Chariot is looking to realise the value of its renewables business in order to accelerate its upstream objectives.
The ordinary shares of Chariot Limited are admitted to trading on AIM under the symbol 'CHAR'.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Adonis Pouroulis
Reason for the Notification
a)
Position/status
Chief Executive Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
20,253,165
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julian Maurice-Williams
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
15,189,873
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Duncan Wallace
Reason for the Notification
a)
Position/status
Technical Director
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
11,392,405
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrew Hockey
Reason for the Notification
a)
Position/status
Non-Executive Chairman
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company's Non-Executive Directors' Restricted Share Unit Plan these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
2,581,086
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Chris Zeal
Reason for the Notification
a)
Position/status
Non-Executive Director
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company's Non-Executive Directors' Restricted Share Unit Plan these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
1,548,651
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Adonis Pouroulis
Reason for the Notification
a)
Position/status
Chief Executive Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
10,342,343
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julian Maurice-Williams
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
7,743,257
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Duncan Wallace
Reason for the Notification
a)
Position/status
Technical Director
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
7,743,257
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Andrew Hockey
Reason for the Notification
a)
Position/status
Non-Executive Chairman
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company's Non-Executive Directors' Restricted Share Unit Plan these options will vest evenly on 12 March 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
714,285
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Adonis Pouroulis
Reason for the Notification
a)
Position/status
Chief Executive Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Extension of expiry period of options over Ordinary Shares under the Company's Non-Executive Directors' Restricted Share Unit Plan to remain exercisable until 2 October 2029.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
72,463
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julian Maurice-Williams
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest immediately and will remain exercisable until 2 October 2029.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
433,125
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Julian Maurice-Williams
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Extension of expiry period of options over Ordinary Shares under Long Term Incentive Plan to remain exercisable until 2 October 2029.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
869,566
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Duncan Wallace
Reason for the Notification
a)
Position/status
Technical Director
b)
Initial notification/Amendment
Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Chariot Limited
b)
LEI
21380046DOGKITYU6X54
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares.
Identification code
ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
b)
Nature of the transaction
Grant of options over Ordinary Shares. In accordance with the Company’s Long Term Incentive Share Scheme these options will vest immediately and will remain exercisable until 2 October 2029.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
£nil
637,500
d)
Aggregated information:
- Aggregated volume
- Price
Not applicable, single transaction.
e)
Date of the transaction
2 October 2026
f)
Place of the transaction
Outside a trading venue.
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