Business
Result of Significantly Oversubscribed Open Offer
Result of Significantly Oversubscribed Open Offer.
About this update from Chariot Limited
[{"type":"text","content":"\n\nTHIS 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, RUSSIA, 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.\n \nChariot Limited\n(\"Chariot\", the \"Company\" or the \"Group\")\n \n12 August 2024\nResult of Significantly Oversubscribed Open Offer\n \nChariot (AIM: CHAR), the African focused transitional energy company, today announces the result of its Open Offer pursuant to the Fundraising announced on 19 July 2024.\n \nThe 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.\n \nAll 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).\n \nThe 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.\n \nJulian Maurice-Williams, CFO of Chariot, commented:\n \n\"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.\"\n \nCapitalised terms in this announcement shall have the same meaning as in the announcement made by the Company on 19 July 2024 unless the context requires otherwise.\n \nThis announcement contains inside information for the purposes of Article 7 of EU...