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, RUSSIA, 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.
24 July 2024
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 19 and 22 July 2024, 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 22 July
2024 that it had conditionally raised net proceeds of US$6.4
million (£5 million), comprising gross proceeds of US$7 million
(£5.4 million) less expenses, through the successful Placing of and
Subscription for 83,353,179 New Ordinary Shares at the Issue Price
of 6.5 pence per Ordinary Share. Furthermore, it proposed to raise
up to a further US$2 million (£1.5 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 46 Existing
Ordinary Shares
up to a maximum of 23,351,720 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 22
July 2024. 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 5.00 p.m. on 19 July
2024.
General Meeting
The General Meeting is to be held
at the offices of Memery Crystal at 165 Fleet
Street, London, EC4A 2DY at 11.00 a.m. on 13 August 2024 at which
the Resolutions will be proposed.
Capitalised terms in this announcement shall
have the same meaning ascribed in the announcement made on 19 July
2024 unless the context requires otherwise.
Enquiries:
|
Chariot Limited
Adonis Pouroulis, CEO
Julian Maurice-Williams,
CFO
|
+44 (0)20 7318 0450
|
|
Cavendish Capital Markets Limited
(Nomad and Joint Bookrunner)
Derrick Lee, Adam Rae
(Corporate Finance)
Leif Powis (ECM)
Stifel Nicolaus Europe Limited (Joint
Bookrunner)
Callum Stewart, Ashton
Clanfield, Jason Grossman
|
+44 (0)20 7397 8900
+44 (0) 20 7710 7760
|
|
Celicourt
Communications (Financial PR)
Mark Antelme, Jimmy
Lea
|
+44 (0)20 7770 6424
|
NOTES FOR
EDITORS:
About
Chariot
Chariot is an Africa focused transitional
energy group with three business streams: Transitional Gas,
Transitional Power and Green Hydrogen.
Chariot Transitional Gas is focused on high
value, low risk gas development projects in Morocco, a fast-growing
emerging economy, with a clear route to early monetisation,
delivery of free cash flow 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 TEH2
(80% owned by TotalEnergies, 20% by the EREN Group) and the
Government of Mauritania on the potential development of a 10GW
green hydrogen project, Project Nour in Mauritania, and is
progressing pilot projects 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.
