Notice of AGM and Proposed Share Consolidation

Chariot Limited

10 July 2026

 

10 July 2026

 

Chariot Limited

("Chariot" or the "Company")

Notice of Annual General Meeting and Proposed Share Consolidation

Chariot (AIM: CHAR), the Africa focused energy company, announces that its Annual General Meeting ("AGM") will be held at The Mayfair Hotel, Stratton Street, London, W1J 8LT on 22 September 2026 at 10.00am. Please can shareholders arrive at 9.30am for a 10.00am start. Once the formal business of the AGM has concluded, management will go through the latest version of the corporate presentation which will be followed by a Q&A session.

As one of the resolutions at the AGM, the Company is proposing to implement a consolidation of the Company's ordinary share capital on the basis of 1 New Ordinary Share of 25p for every 25 Existing Ordinary Shares of 1p each at a time to be determined at the discretion of the Directors.

As set out in recent announcements, Chariot is firmly refocusing the business on its upstream strategy. The Company sees a number of value triggers ahead, including the completion of its offshore Angola transaction, the divestment of its renewables business, securing additional oil and gas production revenues and pursuing other synergistic development and exploration opportunities. Management believes this is a pivotal time for the Company as it shifts its investment focus towards cashflow generation and growth, and that a rebased share price will support its growth trajectory over the longer term.

As a consequence of the level of the Company's share price, minor changes in the price can amount to significant percentage movements, and this can lead to volatility. Accordingly, the Board believes that it would be in the interests of both the Company and Shareholders to decrease the number of Existing Ordinary Shares in issue, with a corresponding increase in the nominal value and market price of those shares, by consolidating the Existing Ordinary Shares on the basis of 1 New Ordinary Share of 25p for every 25 Existing Ordinary Shares of 1p each. The Board anticipates that a higher share price may help reduce the volatility in the Company's share price and support a more consistent valuation of the Company.

Subject to the passing of the Share Consolidation Resolution at the Annual General Meeting, the Directors will have the discretion to determine the optimal timing of its implementation.

The notice of AGM ("Notice") and letter from the Chairman which includes further details on the proposed share consolidation is available on the Company's website and will be posted out to shareholders on request.

All shareholders are encouraged to submit their vote electronically or by using the proxy form enclosed with the Notice. Details of how to do this are contained in the document. All valid proxy votes will be included in the poll to be taken at the meeting.

The result of the AGM will be announced shortly after its conclusion and published on the Company's website.

Enquiries

Chariot Limited Adonis Pouroulis, CEO Julian Maurice-Williams, CFO	[phone]
Cavendish Capital Markets Limited (Nomad and Joint Broker) Derrick Lee	[phone]
Hannam & Partners (Joint Broker) Neil Passmore, Leif Powis	[phone]
Celicourt Communications (Financial PR) Mark Antelme, Charles Denley-Myerson, Kathleen Beams	[phone]

NOTES FOR EDITORS:

Chariot is an Africa focused energy group with two 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 growth business within Africa. Alongside securing a footprint in Angola, Chariot holds a diverse portfolio in Morocco and is pursuing a range of new ventures with a focus on production.

Chariot's Renewable Power business is focused on providing competitive, sustainable and reliable energy through building, generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining projects on the continent. Chariot is also continuing to work across its green hydrogen assets in Mauritania.

As recently announced, Chariot is looking to realise the value of its renewables business in order to accelerate its upstream objectives.

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

 

END