THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, ARE RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

Chariot Limited

("Chariot", the "Company" or the "Group")

18 June 2025

Result of General Meeting and Total Voting Rights

Chariot (AIM: CHAR), the African 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$7.1 million (£5.2 million) through the issue of 375,030,349 New Ordinary Shares.

The net proceeds of the Fundraise will be used as follows in order to:

·      Secure Chariot's stake and participation in wind generation, gas and new upstream assets

·      Strengthen the balance sheet to execute the Company's updated strategy and enable management to demerge the Renewable Power pillar in order to realise value and allow further growth of both businesses

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 19 June 2025. On Admission, the Company will have 1,577,477,983 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 23 May 2025 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 (as amended).

Enquiries:

NOTES FOR EDITORS:

About Chariot

Chariot is an Africa focused transitional energy group with two core business streams: Upstream Oil and Gas and Renewable Power.

Chariot's Upstream Oil and Gas pillar is focused on building out a full-value chain upstream growth business within Africa. Chariot holds a diverse footprint in Morocco with its offshore and onshore licences and is pursuing a range of new ventures with a focus on oil and gas opportunities.

Chariot Transitional Power is focused on providing competitive, sustainable and reliable energy through generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining and water projects on the continent. Chariot is also continuing to advance its green hydrogen asset, Project Nour in Mauritania and the 1 MW electrolyser pilot project in Morocco.

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

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This Announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.