18 December 2025
Chariot Limited
("Chariot", the "Company")
Disposal of Water Business
Chariot (AIM: CHAR), the Africa focused energy company, announces that it has disposed of its water business as it focuses on its core interests within the Power division in electricity trading and generation projects across southern Africa.
The water business primarily held the proof-of-concept desalination project in Djibouti. The business was held through Chariot's stake in a subsidiary, Oasis Water Platform, which has now been sold to AquaNexus Holding.
Sale consideration of US$435,000 in cash has been received and will be used for general corporate purposes.
Enquiries
| Chariot Limited Adonis Pouroulis, CEO Julian Maurice-Williams, CFO |
+44 (0)20 7318 0450
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| Cavendish Capital Markets Limited (Nomad and Joint Broker) Derrick Lee
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+44 (0)20 7397 8900
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| Stifel Nicolaus Europe Limited (Joint Broker) Callum Stewart, Ashton Clanfield |
+44 (0) 20 7710 7760 |
| Celicourt Communications (Financial PR) Mark Antelme, Charles Denley-Myerson, Kathleen Beams |
+44 (0) 20 7770 6424 |
Notes
About Chariot
Chariot is an Africa focused energy group with two core business streams: Upstream Oil and Gas and Renewable Power.
Chariot's Renewable Power business is focused on providing competitive, sustainable and reliable energy through building, generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining projects on the continent. Chariot is also continuing to advance its green hydrogen asset, Project Nour in Mauritania.
The ordinary shares of Chariot Limited are admitted to trading on AIM under the symbol 'CHAR'. https://chariotenergygroup.com
About Oasis Water Platform
Prior to the transaction described in this announcement, Chariot held 80% interests in Oasis Water Platform and its subsidiaries (together, the "Water Business"), through which the Company held a stake in a proof-of-concept desalination project in Djibouti.
In the year to 31 December 2024, the Water Business generated revenues of US$162,000 and a loss of approximately US$100,000 after deduction of recurring operating and administrative expenses. At 31 December 2024, the book value of the Water Business within property, plant and equipment was US$550,000 (implying a book value of US$440,000 for Chariot's 80% stake).