REG - Chariot Limited - Result of Oversubscribed Open Offer

ChariotAnnouncement

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RNS Number : 0762N  Chariot Limited  17 June 2025

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THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
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JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS
ANNOUNCEMENT.

 

Chariot Limited

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

 

17 June 2025

Result of Oversubscribed Open Offer

 

Chariot (AIM: CHAR), the African focused transitional energy company, today
announces the result of its Open Offer pursuant to the Fundraising announced
on 23 May 2025.

 

The Company is pleased to announce that it has received valid acceptances from
Qualifying Shareholders in respect of 62,270,970 Open Offer Shares,
representing a take-up of over 119 per cent of the 52,279,027 Open Offer
Shares available.

 

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 on a pro-rata basis
of the excess shares applied for, with the same scaling methodology to be
applied to each shareholder who applied for Excess Entitlements. Accordingly,
the Open Offer has conditionally raised total gross proceeds of approximately
US$1 million (£0.7 million).

 

The issuance of the Open Offer Shares is subject to and conditional on the
passing of the Resolutions at the General Meeting to be held on 18 June 2025.

 

Julian Maurice-Williams, CFO of Chariot, commented:

 

"We are very pleased to announce the results of this Open Offer and would like
to thank our shareholders for their ongoing support. This brings the total
funds raised to US$7.1 million and we look forward to delivering on our plans
across our Upstream and Renewable Power businesses over the coming months."

 

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

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European
Union (Withdrawal) Act 2018 (as amended).

 

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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