REG - Chariot Limited - Posting of Circular and Details of Open Offer

ChariotAnnouncement

07/12/2021 13:00

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RNS Number : 8568U  Chariot Limited  07 December 2021

 

 

 

 

 

 

 

7 December 2021

 

Chariot Limited

("Chariot", the "Company" or the "Group")

 

Posting of Circular and Details of Open Offer

 

Chariot (AIM: CHAR), the African focused transitional energy company, is
pleased to confirm that, further to the Company's announcements on 2 and 3
December 2021, a Circular in connection with an Open Offer (the "Circular")
has today been posted to Qualifying Shareholders. A copy of the Circular will
be available shortly on the Company's website.

 

The Company announced on 3 December 2021 that it had conditionally raised
gross proceeds of US$9.5 million (£7.1 million) through the successful
Placing of and Subscription for 101,639,842 New Ordinary Shares at the Issue
Price of 7 pence per Ordinary Share. Furthermore, it proposed to raise up to a
further US$2 million (£1.5 million) by the issue of New Ordinary Shares
pursuant to an Open Offer to Qualifying Shareholders at the Issue Price.

 

Open Offer

The Board is grateful for the continued support of all shareholders and is
pleased to offer existing shareholders the opportunity to participate in the
Fundraising through the Open Offer at the same price at which investors in the
Placing and Subscription have taken part.

 

Qualifying Shareholders may subscribe for Open Offer Shares on the basis of:

1 Open Offer Share for every 30 Existing Ordinary Shares

Qualifying Shareholders entitlement to subscribe for Open Offer Shares will be
based on their holding at 6.30 p.m. on the Record Date, being 3 December 2021.
Qualifying Shareholders subscribing for their full entitlement under the Open
Offer may request to subscribe for Open Offer Shares in excess of their pro
rata entitlement as an Excess Entitlement, up to the total number of Open
Offer Shares available to Qualifying Shareholders under the Open Offer, with
any Excess Entitlement to be allocated at the discretion of the Directors.

 

Any funds raised through the Open Offer will be used to supplement the Group's
working capital.

 

The expected timetable of principal events relating to the Open Offer is set
out in the Circular and the Company's announcement of the Proposed Placing,
Subscription and Open Offer, which was released on 2 December 2021.

 

Capitalised terms in this announcement shall have the same meaning ascribed in
the announcement made on 2 December 2021 unless the context requires
otherwise.

 

Enquiries:

 

 Chariot Limited                                            +44 (0)20 7318 0450

 Adonis Pouroulis, Acting CEO

 Julian Maurice-Williams, CFO

 finnCap (Nominated Adviser)                                +44 (0)20 7220 0500

 Christopher Raggett, Simon Hicks, Edward Whiley

 Cenkos Securities Plc (Bookrunner)                         +44 (0)20 7397 8900

 Derrick Lee, Neil McDonald, Adam Rae (Corporate Finance)

 Leif Powis (ECM)

 Celicourt Communications (Financial PR)                    +44 (0)20 8434 2754

 Mark Antelme, Jimmy Lea

 

NOTES FOR EDITORS:

 

About Chariot

 

Chariot is an African focused transitional energy group with two business
streams, Transitional Gas and Power.

 

Chariot Transitional Gas is a high value, low risk gas development project
with strong ESG credentials in a fast-growing emerging economy with a clear
route to early monetisation, delivery of free cashflow and material
exploration upside. Chariot Transitional Power, looking to transform the
energy market for mining operations in Africa, providing a giant largely
untapped market with cleaner, sustainable, and more reliable power.

 

The ordinary shares of Chariot Limited are admitted to trading on the AIM
under the symbol 'CHAR'.

 

 

 

 

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