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Chariot Limited raises £5.4 million via oversubscribed Placing and Subscription

July 2024

Chariot is an AIM listed African focused transitional energy group with two business streams, Transitional Gas and Transitional Power.

Chariot Transitional Gas is focussed on 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.

Placing and Subscription

Chariot has successfully raised £5.4 million via Placing and Subscription for 83,353,179 New Ordinary Shares and Open Offer of up to 23,351,720 New Ordinary Shares at 6.5 pence per New Ordinary Share which was oversubscribed.

The Perivan Shareholder communication team was delighted to work with Cavendish Capital Markets who acted as Nominated Adviser and Joint Broker to Chariot on the documentation which was successfully produced and posted to qualifying shareholders on 24th July 2024.

Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to corporate finance transactions.