REG - Chariot Limited - Share Awards and Amendment of Historic Awards

ChariotAnnouncement

30/04/2024 13:30

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RNS Number : 6469M  Chariot Limited  30 April 2024

 

30 April 2024

 

Chariot Limited

("Chariot", the "Company")

 

Grant of Deferred Share Awards and Amendment of Historic Awards

 

In line with best practice corporate governance for AIM companies, Chariot
aims to remunerate its Directors through an appropriate mix of cash and share
awards, thus aligning their interests with those of its shareholders.

 

Matching awards

In accordance with the Company's Non-Executive Directors' Restricted Share
Unit Plan on 30 April 2024, the following Non-Executive Directors were granted
a matching award over ordinary shares in the Company ("shares").

 

 Directors      Position                Number of Shares Awarded
 George Canjar  Chairman                200,000(1)
 Chris Zeal     Non-Executive Director  113,921(2)

 

The matching awards are granted in order to "match" the purchase of shares
("purchased shares") made by George Canjar on 21 December 2023 and 27 December
2023 and made by Chris Zeal on 29 January 2024.  The matching awards are
conditional upon retention of such purchased shares until the awards vest.

( )

(1) Subject to continuing office and retention of the purchased shares, the
matching share award will vest on 27 December 2026.

 

(2) Subject to continuing office and retention of the purchased shares, the
matching share award will vest in three equal instalments on 29 January 2025,
2026 and 2027.

 

Historic share awards amended

Historic share awards granted under the Company's Long Term Incentive Plan and
Non-Executive Directors' Restricted Share Unit Plan have had their expiry date
extended, in recognition of long-standing commitment to the Company and having
not exercised previously vested awards. The effect on directors' share awards
both individually and cumulatively is net neutral (i.e. the same number of
shares will be outstanding under all share awards held by the directors). The
effect on the directors' share awards is listed below.

 

 Directors                Position                 Number of Shares in respect of which awards have been amended
 Adonis Pouroulis         Chief Executive Officer  522,735(3)
 Julian Maurice-Williams  Chief Financial Officer  352,083(4)
 Duncan Wallace           Technical Director       1,032,659(4)

 

(3) These share awards were granted whilst Adonis Pouroulis was a
Non-Executive Director under the Company's Non-Executive Directors' Restricted
Share Unit Plan and have had their expiry date extended such that they are
exercisable until 30 April 2027.

 

(4) These share awards were granted under the Long Term Incentive Plan and
have had their expiry date extended such that they are exercisable until 30
April 2027.

 

 

Share award

George Canjar has received a new share award under the Non-Executive
Directors' Restricted Share Unit Plan over a total of 4,880,210 shares, in
recognition of long-standing commitment to the Company and having not
exercised previously vested awards. This new share award relates to historic
awards which had vested (in whole or in part) but lapsed under the plan.
Subject to continuing office, the new share award will vest on 30 April 2027.

 

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.

 

Enquiries

 

 Chariot Limited                                          +44 (0)20 7318 0450

 Adonis Pouroulis, CEO

 Julian Maurice-Williams, CFO

 Cavendish Capital Markets Plc (Nomad and Joint Broker)   +44 (0)131 220 9778

 Derrick Lee, Adam Rae

 Stifel Nicolaus Europe Limited (Joint Broker)            +44 (0) 20 7710 7760

 Callum Stewart, Ashton Clanfield
 Celicourt Communications (Financial PR)                  +44 (0) 20 7770 6424

 Mark Antelme, Jimmy Lea

 

NOTES FOR EDITORS:

 

 

About Chariot

 

Chariot is an Africa focused transitional energy group with three business
streams, Transitional Gas, Transitional Power and Green Hydrogen.

 

Chariot Transitional Gas is focused on high value, low risk gas development
projects in Morocco, a fast-growing emerging economy, with a clear route to
early monetisation, delivery of free cashflow and material exploration upside.

 

Chariot Transitional Power is focused on providing competitive, sustainable
and reliable energy and water solutions across the continent through building,
generating and trading renewable power.

 

Chariot Green Hydrogen is partnering with TEH2 (80% owned by TotalEnergies,
20% by the EREN Group) and the Government of Mauritania on the potential
development of a 10GW green hydrogen project, Project Nour in Mauritania, and
are progressing pilot projects in Morocco.

 

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

 

https://chariotenergygroup.com (https://chariotenergygroup.com)

 

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         George Canjar
 2.      Reason for the Notification
 a)      Position/status                                              Chairman
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Grant of options over Ordinary Shares. In accordance with the Company's
                                                                      Non-Executive Directors' Restricted Share Unit Plan these options will vest on
                                                                      27 December 2026.
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      200,000
 d)      Aggregated information:

         ·      Aggregated volume                                     Not applicable, single transaction.

         ·      Price
 e)      Date of the transaction                                      30  April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

 

Not applicable, single transaction.

e)

Date of the transaction

30  April 2024

f)

Place of the transaction

Outside a trading venue.

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         Chris Zeal
 2.      Reason for the Notification
 a)      Position/status                                              Non-Executive Director
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Grant of options over Ordinary Shares. In accordance with the Company's
                                                                      Non-Executive Directors' Restricted Share Unit Plan these options will vest on
                                                                      29 January 2025, 2026 and 2027.
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      113,921
 d)      Aggregated information:

         ·      Aggregated volume                                     Not applicable, single transaction.

         ·      Price
 e)      Date of the transaction                                      30  April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

 

Not applicable, single transaction.

e)

Date of the transaction

30  April 2024

f)

Place of the transaction

Outside a trading venue.

 

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         George Canjar
 2.      Reason for the Notification
 a)      Position/status                                              Chairman
 b)      Initial notification/Amendment                               Initial Notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Grant of options over Ordinary Shares. In accordance with the Company's
                                                                      Non-Executive Directors' Restricted Share Unit Plan these options will vest on
                                                                      30  April 2027.
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      4,880,210
 d)      Aggregated information:                                      Not applicable, single transaction.

         ·      Aggregated volume

         ·      Price
 e)      Date of the transaction                                      30  April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

Not applicable, single transaction.

 

e)

Date of the transaction

30  April 2024

f)

Place of the transaction

Outside a trading venue.

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         Adonis Pouroulis
 2.      Reason for the Notification
 a)      Position/status                                              Chief Executive Officer
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Extension of expiry period of options over Ordinary Shares granted whilst a
                                                                      Non-Executive Director under the Company's Non-Executive Directors' Restricted
                                                                      Share Unit Plan to remain exercisable until  30 April 2027
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      18,533
                                                                      £nil      504,202
 d)      Aggregated information:

Price(s)  Volume(s)
         ·      Aggregated volume                                     £nil      522,735

         ·      Price
 e)      Date of the transaction                                      30  April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

 

 Price(s)  Volume(s)
 £nil      522,735

e)

Date of the transaction

30  April 2024

f)

Place of the transaction

Outside a trading venue.

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         Julian Maurice-Williams
 2.      Reason for the Notification
 a)      Position/status                                              Chief Financial Officer
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Extension of expiry period of options over Ordinary Shares under Long Term
                                                                      Incentive Plan to remain exercisable until  30 April 2027.
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      133,333
                                                                      £nil      218,750
 d)      Aggregated information:

Price(s)  Volume(s)
         ·      Aggregated volume                                     £nil      352,083

         ·      Price
 e)      Date of the transaction                                      30 April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

 

 Price(s)  Volume(s)
 £nil      352,083

e)

Date of the transaction

30 April 2024

f)

Place of the transaction

Outside a trading venue.

 

 1.      Details of the person discharging managerial responsibilities / person closely
         associated
 a)      Name                                                         Duncan Wallace
 2.      Reason for the Notification
 a)      Position/status                                              Technical Director
 b)      Initial notification/Amendment                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name                                                         Chariot Limited
 b)      LEI                                                          21380046DOGKITYU6X54
 4.      Details of the transaction(s): section to be repeated for (i) each type of
         instrument; (ii) each type of transaction; (iii) each date; and (iv) each
         place where transactions have been conducted
 a)      Description of the Financial instrument, type of instrument  Options over Ordinary Shares.
         Identification code                                          ISIN for Chariot Limited Ordinary Shares: GG00B2R9PM06
 b)      Nature of the transaction                                    Extension of expiry period of options over Ordinary Shares under Long Term
                                                                      Incentive Plan to remain exercisable until 30 April 2027.
 c)      Price(s) and volume(s)

Price(s)  Volume(s)
                                                                      £nil      501,409
                                                                      £nil      531,250
 d)      Aggregated information:

Price(s)  Volume(s)
         ·      Aggregated volume                                     £nil      1,032,659

         ·      Price
 e)      Date of the transaction                                      30 April 2024
 f)      Place of the transaction                                     Outside a trading venue.

d)

Aggregated information:

·      Aggregated volume

·      Price

 

 Price(s)  Volume(s)
 £nil      1,032,659

e)

Date of the transaction

30 April 2024

f)

Place of the transaction

Outside a trading venue.

 

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