16 October 2024

Chariot Limited

("Chariot", the "Company")

Appointment of Chairman

Chariot Limited (AIM: CHAR), the Africa focused transitional energy group is pleased to announce that Andrew Hockey, currently a Non-Executive Director, has been appointed to the role of Non-Executive Chairman of the Company. Andrew succeeds George Canjar, who has retired from the Board, with both changes taking effect immediately.

George Canjar commented: "It has been a real pleasure to work alongside everyone at Chariot throughout the time I have been involved with the business but I feel that now is the right time for me to retire from the Board. I welcome Andrew in taking over from me as Chairman and wish the Company all the best for the future."

Andrew Hockey, Non-Executive Chairman, commented, "I would like to thank George for his hard work and dedication to Chariot. Having worked together for the past five years, I look forward to a seamless transition and we as a Board remain fully focused on maximising value for shareholders."

Adonis Pouroulis, CEO of Chariot, commented:

"I would also like to thank George for all his wise counsel and support during his time on the Board. As Chairman he helped steer the Company through some critical times and we very much appreciate the significant contributions he made throughout his tenure. He will be a missed member of the team and we wish him well with his retirement.

We continue to make good progress with our Transitional Power financing, our new venture opportunity and we are pursuing various funding avenues for our Green Hydrogen business. We are also working alongside our partners to determine the next steps for Chariot's gas business and we will provide further updates on this in due course. As we set out in our interim results, we are looking to preserve capital and have already taken steps to reduce costs where appropriate whilst we consider our forward work programmes."

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.

Enquiries

NOTES FOR EDITORS:

About Chariot

Chariot is an Africa focused transitional energy group with three business streams, Transitional Gas, Transitional Power and Green Hydrogen.

Chariot Transitional Gas is focused on high value, low risk gas development projects in Morocco, a fast-growing emerging economy, with a clear route to early monetisation, delivery of free cashflow and material exploration upside.

Chariot Transitional Power is focused on providing competitive, sustainable and reliable energy and water solutions across the continent through building, generating and trading renewable power.

Chariot Green Hydrogen is partnering with TEH2 (80% owned by TotalEnergies, 20% by the EREN Group) and the Government of Mauritania on the potential development of a 10GW green hydrogen project, Project Nour in Mauritania, and are progressing pilot projects in Morocco.

The ordinary shares of Chariot Limited are admitted to trading on the AIM under the symbol 'CHAR'. 

https://chariotenergygroup.com