Memery Crystal advises Chariot Limited on oversubscribed $9m fundraising

The Memery Crystal team was led by Corporate Partner Robert Bines-Black, who was assisted by Corporate Associate David McClellan and Trainee Solicitor Jack Rudgeley.

The net proceeds of the fundraising will be used by Chariot to strengthen its balance sheet, secure a material new venture opportunity and progress onshore gas commercialisation plans in Morocco to build a gas to industry supply.

Robert Bines-Black commented:

“It has been a pleasure to assist the excellent team at our long-standing client Chariot on a successful fundraising round, which was supported both by institutional and retail investors. Particularly impressive was the 197% take-up of the open offer to existing shareholders, which was scaled back to raise US$2 million.”

Julian Maurice-Williams, Chief Financial Officer of Chariot, commented:

“We are grateful to Robert Bines-Black, David McClellan and the Memery Crystal team for their support during this important fundraising for Chariot. As always it was a pleasure to work with them, and these funds provide us with a strong position to make further progress across our projects focused on energy transition in Africa.”