Chariot Oil & Gas Ld Result of Open Offer (9512I)
March 27 2018 - 2:00AM
UK Regulatory
TIDMCHAR
RNS Number : 9512I
Chariot Oil & Gas Ld
27 March 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, NEW
ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN
Chariot Oil & Gas Limited ("Chariot" or the "Company")
27 March 2018
Result of Open Offer
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins
focused oil and gas exploration company, announced on 27 February
2018 that it had conditionally raised total gross proceeds of
approximately US$15 million (GBP10.7 million) by the conditional
placing of 82,582,747 New Ordinary Shares (the "Placing") at an
issue price of 13 pence per New Ordinary Share (the "Issue Price").
Furthermore, it proposed to raise up to a further EUR5.0 million
(GBP4.4 million) by the issue of up to a further 33,609,150 New
Ordinary Shares pursuant to an Open Offer (the "Open Offer") to
Qualifying Shareholders at the Issue Price.
The Company is pleased to announce that it has received valid
acceptances from Qualifying Shareholders in respect of 13,911,954
Open Offer Shares representing 41 per cent of the maximum Open
Offer Shares available. Accordingly, the Open Offer has
conditionally raised total gross proceeds of approximately US$2.5
million (GBP1.8 million).
Mr. Bottomley, a Director of the Company, has made an
application to subscribe for a total of 241,000 Open Offer Shares,
under the Basic Entitlement and Excess Entitlement facilities.
Following Admission, Mr. Bottomley will have a total beneficial
interest of 795,446 Ordinary Shares, representing 0.22 per cent. of
the Company's Enlarged Share Capital immediately following
Admission. The participation of Mr. Bottomley in the Open Offer
constitutes a related party transaction under AIM Rule 13. The
Directors, with the exception of Mr. Bottomley, are considered to
be independent and, as such, having consulted with the Company's
Nominated Adviser, consider that the participation in the Open
Offer by Mr. Bottomley is fair and reasonable insofar as the
Company's Shareholders are concerned.
Enquiries:
For further information please visit www.chariotoilandgas.com or
contact:
Chariot Oil & Gas Limited
Larry Bottomley, CEO +44 (0)20 7318 0450
finnCap (Nominated Adviser and Joint Broker)
Matt Goode, Christopher Raggett, Anthony Adams (Corporate
Finance)
Emily Morris, Abigail Wayne (Corporate Broking) +44 (0)20 7220 0500
Cenkos Securities PLC (Joint Broker)
Neil McDonald, Derrick Lee (Corporate Finance)
Joe Nally, Leif Powis (Corporate Broking) +44 (0)20 7397 8900
Celicourt Communications (Financial PR)
Henry Lerwill, Jimmy Lea +44 (0)20 7520 9261
NOTES TO EDITORS
ABOUT CHARIOT
Chariot Oil & Gas Limited is an independent oil and gas
exploration group. It holds licences covering two blocks in
Namibia, three blocks in Morocco and four blocks in the
Barreirinhas Basin offshore Brazil. All of these blocks are
currently in the exploration phase.
The ordinary shares of Chariot Oil & Gas Limited are
admitted to trading on the AIM, a market operated by the London
Stock Exchange under the symbol 'CHAR'.
All capitalised terms not defined herein shall have the meanings
ascribed to them in the announcement made on 27 February 2018 and
confirmed in the Circular.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement via regulatory news service this inside information is
now considered to be in the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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