REG - Chariot Limited - Disposal of Water Business

ChariotAnnouncement

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RNS Number : 1638M  Chariot Limited  18 December 2025

 

18 December 2025

Chariot Limited

("Chariot", the "Company")

 

Disposal of Water Business

Chariot (AIM: CHAR), the Africa focused energy company, announces that it has
disposed of its water business as it focuses on its core interests within the
Power division in electricity trading and generation projects across southern
Africa.

The water business primarily held the proof-of-concept desalination project in
Djibouti. The business was held through Chariot's stake in a subsidiary, Oasis
Water Platform, which has now been sold to AquaNexus Holding.

Sale consideration of US$435,000 in cash has been received and will be used
for general corporate purposes.

Enquiries

 Chariot Limited                                             +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Capital Markets Limited (Nomad and Joint Broker)  +44 (0)20 7397 8900

 Derrick Lee

 Stifel Nicolaus Europe Limited (Joint Broker)               +44 (0) 20 7710 7760

 Callum Stewart, Ashton Clanfield
 Celicourt Communications (Financial PR)                     +44 (0) 20 7770 6424

 Mark Antelme, Charles Denley-Myerson, Kathleen Beams

 

Notes

 

About Chariot

 

Chariot is an Africa focused energy group with two core business streams:
Upstream Oil and Gas and Renewable Power.

 

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
advance its green hydrogen asset, Project Nour in Mauritania.

 

The ordinary shares of Chariot Limited are admitted to trading on AIM under
the symbol 'CHAR'. https://chariotenergygroup.com
(https://chariotenergygroup.com)

 

About Oasis Water Platform

 

Prior to the transaction described in this announcement, Chariot held 80%
interests in Oasis Water Platform and its subsidiaries (together, the "Water
Business"), through which the Company held a stake in a proof-of-concept
desalination project in Djibouti.

 

In the year to 31 December 2024, the Water Business generated revenues of
US$162,000 and a loss of approximately US$100,000 after deduction of recurring
operating and administrative expenses. At 31 December 2024, the book value of
the Water Business within property, plant and equipment was US$550,000
(implying a book value of US$440,000 for Chariot's 80% stake).

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