Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

<ul><li>• The management of Chariot Group are considering splitting the company in two entities, one focusing on upstream oil and gas and the other on renewable power, the latter will also house the hydrogen and water assets.</li><li>• Pending further details, we are placing our target price under review.</li></ul>

• The management of Chariot Group are considering splitting the company in two entities, one focusing on upstream oil and gas and the other on renewable power, the latter will also house the hydrogen and water assets.• Pending further details, we are placing our target price under review.

Chariot Limited (AIM: CHAR): Potentially demerging the group

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

<ul>
<li>12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.</li>
<li>Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.</li>
<li>9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.</li>
</ul>


12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.
Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.
9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.


Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

<ul>
<li>Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital.</li>
<li>In exchange, Standard Bank and Norfund will hold 10% and 20% of the project’s economics, respectively, via preferred equity.</li>
<li>This leaves Etana with 70%, equating to ~34.7% net to Chariot.</li>
</ul>


Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital.
In exchange, Standard Bank and Norfund will hold 10% and 20% of the project’s economics, respectively, via preferred equity.
This leaves Etana with 70%, equating to ~34.7% net to Chariot.


Chariot Limited (AIM: CHAR): Significant power transaction highlights the value of the S. Africa electricity trading business

<ul><li>• The North Flank prospect at Anchois-3 is water wet (ReNAV: £0.03/sh), This has a negative impact on Anchois South (ReNAV: £0.07/sh).</li><li>• The B sands that were the main appraisal targets were thinner than expected and the deeper C & M sands were water wet, however these were drilled down-dip from the Anchois-2 well where the sands were found gas-bearing.</li><li>The B sands will not be tested and the main hole will be plugged an abandoned.</li></ul>

• The North Flank prospect at Anchois-3 is water wet (ReNAV: £0.03/sh), This has a negative impact on Anchois South (ReNAV: £0.07/sh).• The B sands that were the main appraisal targets were thinner than expected and the deeper C & M sands were water wet, however these were drilled down-dip from the Anchois-2 well where the sands were found gas-bearing.The B sands will not be tested and the main hole will be plugged an abandoned.

Chariot Limited (AIM: CHAR): Anchois-3 disappoints. All eyes on South Africa power

<ul>
<li>The Anchois-3 well has 3 objectives. While the initial pilot hole encountered the targeted reservoirs at the Anchois Footwall prospect, they were interpreted as water wet.</li>
<li>Our ReNAV for this prospect was £0.03/sh.</li>
<li>The well was sidetracked in the B sands which are the main appraisal targets. Preliminary interpretation indicates the presence of gas in these sands.</li>
</ul>


The Anchois-3 well has 3 objectives. While the initial pilot hole encountered the targeted reservoirs at the Anchois Footwall prospect, they were interpreted as water wet.
Our ReNAV for this prospect was £0.03/sh.
The well was sidetracked in the B sands which are the main appraisal targets. Preliminary interpretation indicates the presence of gas in these sands.


Chariot Limited (AIM: CHAR): Anchois-3 encounters gas in the appraisal target but one of the exploration targets is dry

United Kingdom

Chariot is an Africa-focused transitional energy group with three core business streams: Transitional Gas, Transitional Power, and Green Hydrogen. It focuses on high-value gas development projects offshore Morocco, provides sustainable and reliable renewable energy and water solutions across Africa, and develops green hydrogen projects. Chariot was founded in 2007 and is headquartered in London, United Kingdom.

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Chariot (CHAR LN)

Chariot Limited (AIM: CHAR): Potentially demerging the group

• The management of Chariot Group are considering splitting the company in two entities, one focusing on upstream oil and gas and the other on...

Auctus Advisors

Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to...

Hybridan

Chariot Limited (AIM: CHAR): Significant power transaction highlights the value of the S. Africa electricity trading business

Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through...

Auctus Advisors

Chariot Limited (AIM: CHAR): Anchois-3 disappoints. All eyes on South Africa power

• The North Flank prospect at Anchois-3 is water wet (ReNAV: £0.03/sh), This has a negative impact on Anchois South (ReNAV: £0.07/sh). • The B...

Auctus Advisors

Chariot Limited (AIM: CHAR): Anchois-3 encounters gas in the appraisal target but one of the exploration targets is dry

The Anchois-3 well has 3 objectives. While the initial pilot hole encountered the targeted reservoirs at the Anchois Footwall prospect, they were...

Auctus Advisors

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