REG - Chariot Limited - Result of Oversubscribed Open Offer

ChariotAnnouncement

22/12/2021 12:20

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RNS Number : 5221W  Chariot Limited  22 December 2021

 

 

 

 

 

 

 

22 December 2021

 

Chariot Limited

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

 

Result of Oversubscribed Open Offer, Issue of Shares and Total Voting Rights

 

Chariot (AIM: CHAR), the African focused transitional energy company,
announces the result of its Open Offer and issuance of new Ordinary Shares
pursuant to the Fundraising announced on 2 December 2021.

 

Result of Open Offer

 

The Company is pleased to announce that the Open Offer was significantly
oversubscribed with valid acceptances received in respect of 29,320,337 Open
Offer Shares, representing a take-up of over 138 per cent of the 21,224,102
available Open Offer Shares.

 

All Qualifying Shareholders who have validly applied for Open Offer Shares
will receive their full Basic Entitlement. Applications for Open Offer Shares
under the Excess Application Facility will be scaled back as outlined in the
Circular on a pro-rata basis, with the same scaling methodology to be applied
to each shareholder who applied for Excess Entitlements. Accordingly, the Open
Offer has raised total gross proceeds of approximately US$2.0 million (£1.5
million).

 

The Company has applied for admission of the Open Offer Shares to trading on
AIM. Admission will occur at 8.00a.m. on Thursday, 23 December 2021. On
Admission, the Company will have 759,587,023 Ordinary Shares in issue and
there are no shares held in treasury. This figure may be used by shareholders
as the denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest in,
the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

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.
Additionally in September 2021, Chariot announced its partnership with the
Government of Mauritania for the potential development of a large-scale green
hydrogen project.

 

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

 

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