REG - Chariot Limited - Posting of Circular and Notice of General Meeting

ChariotAnnouncement

29/05/2025 13:00

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RNS Number : 6235K  Chariot Limited  29 May 2025

 

 

 

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, ARE RESTRICTED AND NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE
REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS
ANNOUNCEMENT.

 

29 May 2025

 

Chariot Limited

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

 

Posting of Circular, Details of Open Offer and Notice of General Meeting

 

Chariot (AIM: CHAR), the African focused transitional energy company, is
pleased to confirm that, further to the Company's announcements on 23 May
2025, a Circular in connection with a Placing, Subscription and 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 23 May 2025 that it had conditionally raised net
proceeds of US$5.5 million (£4.1 million), comprising gross proceeds of
US$6.1 million (£4.5 million) less expenses, through the successful Placing
of and Subscription for 322,751,322 New Ordinary Shares at the Issue Price of
1.4 pence per Ordinary Share. Furthermore, it proposed to raise up to a
further US$1 million (£0.7 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 23 Existing Ordinary Shares

up to a maximum of 52,279,027 New Ordinary Shares, as set out in the Circular.
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 27 May 2025.
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 released at 4.42 p.m. on 23
May 2025.

 

 

General Meeting

 

The General Meeting is to be held at the offices of Stifel, 4th Floor, 150
Cheapside, London, United Kingdom, EC2V 6ET at 11.00 a.m. on 18 June 2025 at
which the Resolutions will be proposed.

 

Capitalised terms in this announcement shall have the same meaning ascribed in
the announcement made on 23 May 2025 unless the context requires otherwise.

 

Enquiries:

 Chariot Limited                                     +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

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

 Derrick Lee, Adam Rae (Corporate Finance)

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

 Callum Stewart, Ashton Clanfield, Jason Grossman

 Hannam & Partners (Joint Bookrunner)                +44 (0) 20 7907 8500

 Neil Passmore, Leif Powis

 Celicourt Communications (Financial PR)             +44 (0)20 7770 6424

 Mark Antelme, Jimmy Lea

NOTES FOR EDITORS:

About Chariot

 

Chariot is an Africa focused transitional energy group with two core 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 upstream growth business within Africa. Chariot holds a diverse
footprint in Morocco with its offshore and onshore licences and is pursuing a
range of new ventures with a focus on oil and gas opportunities.

Chariot Transitional Power is focused on providing competitive, sustainable
and reliable energy through generating and trading renewable power in South
Africa as well as progressing the development of its power-to-mining and water
projects on the continent. Chariot is also continuing to advance its green
hydrogen asset, Project Nour in Mauritania and the 1 MW electrolyser pilot
project in Morocco.

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

 

This Announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This Announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

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