Petroleum Africa
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Wednesday, August 14, 2024
Release
Chariot, the African focused transitional energy company, announced the result of its Open Offer pursuant to the Fundraising announced on 19 July 2024.
The company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 46,219,913 Open Offer Shares, representing a take-up of over 197 per cent of the 23,351,720 Open Offer Shares available.
All Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement Applications, with any Excess Entitlement Application scaled back so that the total number of shares issued is 23,351,720. Accordingly, the Open Offer has conditionally raised total gross proceeds of approximately US$2 million (£1.5 million).
The issuance of the Open Offer Shares is subject to and conditional on the passing of the Resolutions at the General Meeting to be held on 13 August 2024.
Julian Maurice-Williams, CFO of Chariot, commented: “We are grateful to our shareholders for their considerable support, which has enabled Chariot to deliver a further $2 million via this significantly oversubscribed Open Offer, bringing the total fundraise to $9 million gross. This is an exciting period for the Company, and we look forward to updating all our stakeholders on the imminent drilling campaign at Anchois, alongside progress across the wider Group, over the coming months.”
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