Chariot, 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.
