Chariot Limited Triumphs With Oversubscribed Placing and Subscription; Raises Net Proceeds of $5.5 Million

Chariot Limited is celebrating a significant financial milestone after finalising an oversubscribed equity placing and subscription that has raised an impressive net revenue of $5.5 million (£4.1 million). The triumphant recent financial undertaking by the Africa-focused transitional energy group, Chariot Limited, comprises gross proceeds of $6.1 million (£4.5 million) less expenses, and saw the successful placing and subscription of 322,751,322 new ordinary shares. Each share was issued at a price of 1.4 pence. Also, noteworthy is the plan by Chariot to boost its financial standing by further raising up to $1 million (£0.7 million) through the release of new ordinary shares by means of an Open Offer. This proposed Open Offer has been extended to qualifying shareholders at the same issue price and offers one Open Offer Share for every 23 existing ordinary shares held on record.

Details surrounding the Open Offer action required from Qualifying Shareholders to subscribe for ordinary shares under the Open Offer are anticipated to be made available to shareholders on 29 May 2025.