Chariot to raise £12.5 million via a Placing, Subscription and Open Offer
July 2023
Chariot Limited is an AIM listed African-focused transitional energy group with two business streams, Transitional Gas and Transitional Power.
Chariot Transitional Gas is focused 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 cash flow and material exploration upside.
Chariot Transitional Power is 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
The fundraising will involve a Placing and Subscription for 89,631,143 New Ordinary Shares and Open Offer of up to 16,615,421 New Ordinary Shares at 14 pence per New Ordinary Share.
The Perivan shareholder communications team was delighted to work with Cenkos Securities who acted as Nominated Adviser and Joint Broker to Chariot on the production and mailing of the Circular which included a Notice of General Meeting and Application Form which were posted to qualifying shareholders on 13th July 2023.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
