Result of General Meeting and Total Voting Rights

RNS Number : 4920O

Chariot Limited

10 June 2022

 

10 June 2022

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$29.5 million (£23.6 million).  The net proceeds of the Fundraising will be used to:

· advance the engineering and design of the Anchois Gas Development, including FEED project, project financing, gas sales and updated reserves report, to reach FID:

· progress renewable power pipeline, strategic partnering and new venture opportunities; and

· provide the Company with additional 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 Monday, 13 June 2022. On Admission, the Company will have 958,002,421 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 18 May 2022 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, Acting CEO Julian Maurice-Williams, CFO	[phone]
Cenkos Securities Plc (Nomad and Joint Broker) Derrick Lee, Adam Rae (Corporate Finance) Leif Powis (ECM) Peel Hunt LLP (Joint Broker) Richard Crichton, David McKeown	[phone] [phone]
Celicourt Communications  (Financial PR) Mark Antelme, Jimmy Lea	[phone]

NOTES FOR EDITORS:

About Chariot

Chariot is an African focussed transitional energy group with two business streams, Transitional Gas and Transitional 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. Chariot is also partnering with the Government of Mauritania on the potential development of a 10GW green hydrogen project, Project Nour.

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

 

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