Appointment of Project Finance Advisor

RNS Number : 3384J

Chariot Limited

26 April 2022

 

26 April 2022

Chariot Limited  

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

Appointment of Project Finance Advisor

Societe Generale appointed to lead debt financing of the Anchois Gas Project in Morocco

Chariot (AIM: CHAR), the Africa focused transitional energy company, is pleased to announce, following the recent successful gas drilling campaign on the Anchois gas project offshore Morocco, the appointment of Societe Generale, London Branch  to the role of financial advisor to develop debt funding options for the Anchois gas development.

Julian Maurice-Williams, CFO of Chariot, commented:

"We are very pleased to be bringing Societe Generale on board to assist with the debt project financing of our flagship gas project offshore Morocco. We had a very successful gas drilling campaign earlier in the year and are keen to progress the development of the project to cashflows as quickly as possible."

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.

For further information please contact:

Chariot Limited Adonis Pouroulis, Acting CEO Julian Maurice-Williams, CFO	[phone]
Cenkos Securities Plc (Nomad & Joint Broker) Derrick Lee, Adam Rae	[phone]
Peel Hunt (Joint Broker) Richard Crichton, David McKeown	[phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Societe Generale

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world's societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.

Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 131,000 members of staff in 66 countries and supports on a daily basis 26 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:

· French Retail Banking which encompasses the Societe Generale, Credit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;

· International Retail Banking, Insurance and Financial Services to Corporates , with networks in Africa, Central and Eastern Europe and specialised businesses that are leaders in their markets;

· Global Banking and Investor Solutions , which offers recognised expertise, key international locations and integrated solutions.

Societe Generale is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

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 offshore Morocco 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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