Chariot Ltd Regulatory News (CHAR)

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 £0.7 million of the funds committed pursuant to the Subscription (the "Additional Subscription Funds"). Magna underwrote up to US$7.85 million (£5.57 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.

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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'.