Chariot Limited Payment of Underwriting Fee & Total Voting Rights (6931F)
19 July 2021 - 9:04PM
UK Regulatory
TIDMCHAR
RNS Number : 6931F
Chariot Limited
19 July 2021
19 July 2021
Chariot Limited
("Chariot", the "Company")
Payment of Underwriting Fee & Total Voting Rights
Chariot (AIM: CHAR), the Africa focused transitional energy
group, announces that it has issued, conditional on admission to
trading on AIM, an additional 645,351 Ordinary Shares ("Fee
Shares") at a price of 5.5 pence per Fee Share to Magna Capital LDA
("Magna"), a company of which Adonis Pouroulis, Acting-CEO of
Chariot, is a substantial shareholder, as payment of commission in
accordance with the terms of the Underwriting agreement entered
into between the Company and Magna ("Underwriting Agreement").
Further to the announcement of 25 June 2021, the Company has yet
to receive GBP0.7 million of the funds committed pursuant to the
Subscription (the "Additional Subscription Funds"). Magna
underwrote up to US$7.85 million (GBP5.57 million) of the
Fundraising announced on 24 May 2021, and the Additional
Subscription Funds are included within its underwriting obligation.
A commission was payable to Magna on Admission for its underwriting
commitment, and Magna agreed to a short deferral in payment of its
commission in respect of the Additional Subscription Funds while
the Company awaited payment. As the Additional Subscription Funds
have not yet been received, the Company has now issued the Fee
Shares to Magna to satisfy the commission payable for underwriting
the Additional Subscription Funds.
The Company has applied for admission of the Fee Shares to
trading on AIM ("Fee Share Admission"). Fee Share Admission will
occur at 8.00 a.m. on 23 July 2021. On Fee Share Admission the
Company will have 636,723,079 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 ascribed in the announcement made on 24 May 2021 unless the
context requires otherwise.
For further information please contact:
Chariot Limited
Adonis Pouroulis, Acting CEO
Julian Maurice-Williams, CFO +44 (0)20 7318 0450
finnCap (Nominated Adviser and Joint Broker)
Christopher Raggett, Simon Hicks, Edward
Whiley +44 (0)20 7220 0500
Peel Hunt (Joint Broker)
Richard Crichton / David McKeown +44 (0)20 7418 8900
Celicourt Communications (Financial PR)
Mark Antelme
Jimmy Lea +44 (0)20 8434 2754
NOTES FOR EDITORS:
About Chariot
Chariot is an Africa focused transitional energy group with two
business streams, Transitional Gas and Power.
Chariot Transitional Gas, is a high value, low risk gas
development project 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.
The ordinary shares of Chariot Limited are admitted to trading
on the AIM under the symbol 'CHAR'.
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END
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