Result of General Meeting and Total Voting Rights

Chariot Limited

02 August 2023

 

2 August 2023

Chariot Limited

("Chariot", the "Company")

Result of General Meeting and Total Voting Rights

Chariot (AIM: CHAR), the Africa focused transitional energy company, announces that at the General Meeting of the Company held earlier today all resolutions were duly passed.

The Company is pleased to confirm that as a result of obtaining shareholder approval for the Fundraising, which comprised an oversubscribed Placing and Subscription and an oversubscribed Open Offer, Chariot has raised a total of US$19.1 million (£14.8 million) through the issue of 106,246,564 New Ordinary Shares.  The net proceeds of the Fundraising will be used for:

·      near term onshore drilling and development planning on the Loukos Onshore Licence, and

·      new ventures and working capital.

Total Voting Rights

The Company has applied for admission of the New Ordinary Shares pursuant to the Fundraising to trading on AIM. Admission will occur at 8.00 a.m. on 3 August 2023. On Admission, the Company will have 1,069,941,027 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 as in the announcement made by the Company on 10 July 2023 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.

Enquiries:

Chariot Limited Adonis Pouroulis, CEO Julian Maurice-Williams, CFO	[phone]
Cenkos Securities Plc (Nomad and Joint Bookrunner) Derrick Lee, Adam Rae (Corporate Finance) Leif Powis (ECM) Stifel Nicolaus Europe Ltd (Joint Bookrunner) Callum Stewart, Jason Grossman, Ashton Clanfield	[phone] [phone]
Celicourt Communications (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Chariot

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

Chariot Transitional Gas is focused on a high value, low risk gas development project offshore Morocco in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside.

Chariot Transitional Power is focused on providing competitive, sustainable and reliable energy and water solutions across the continent through building, generating and trading renewable power.

Chariot Green Hydrogen is partnering with Total Eren and the Government of Mauritania on the potential development of a 10GW green hydrogen project, named Project Nour.

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

 

END