Grant of Deferred Share Awards
Chariot Limited announced on October 2, 2026, the grant of deferred share awards and amendments to historic awards for its directors, aligning executive remuneration with shareholder interests and corporate objectives. Executive Directors Adonis Pouroulis, Julian Maurice-Williams, and Duncan Wallace received nil cost options over ordinary shares, vesting in installments through 2029, totaling 20,253,165, 15,189,873, and 11,392,405 shares respectively. Additionally, directors accepted salary reductions in exchange for share awards equivalent to foregone remuneration, with Non-Executive Chairman Andrew Hockey and Non-Executive Director Chris Zeal receiving 2,581,086 and 1,548,651 shares respectively, and executive directors receiving further awards totaling 10,324,343, 7,743,257, and 7,743,257 shares. Matching awards were granted to Andrew Hockey, and certain historic awards had their exercise periods extended to October 2, 2029, with net neutral impact on outstanding shares.
Select text to share a quote on X · sign in to keep highlights & notes in your CHAR notes
In line with best practice corporate governance for AIM companies, Chariot remunerates its Directors through an appropriate mix of cash and share awards, aligning their interests with those of shareholders. The Executive Directors have delivered a number of material milestones across the business, including two material transactions providing economic exposure to producing oil interests in Angola, and significant financing and commercial progress in Renewable Power, as part of a strategic repositioning of the company to focus on value from upstream oil & gas.
Reflecting the extent to which pre-defined corporate objectives were achieved during the performance period for the year to 30 June 2026, the following Directors were granted deferred share awards in the form of nil cost options over ordinary shares (“Ordinary Shares”) on 2 October 2026 under the Company's Long Term Incentive Share Scheme. These share awards will vest in three equal instalments on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036.
| Directors | Position | Number of Shares Awarded |
|---|---|---|
| Adonis Pouroulis | Chief Executive Officer | 20,253,165 |
| Julian Maurice-Williams | Chief Financial Officer | 15,189,873 |
| Duncan Wallace | Technical Director | 11,392,405 |
Salary reduction awards
Since 1 October 2024, the Directors have accepted a reduction in cash basic remuneration as part of the Company's ongoing focus on capital discipline and preservation of cash. In recognition of the cash remuneration foregone, the Board has approved additional nil cost share awards on 2 October 2026 equivalent to the value of that remuneration foregone which will vest on 30 June 2027.
| Directors | Position | Number of Shares Awarded |
| Andrew Hockey | Non-Executive Chairman | 2,581,086 1 |
| Chris Zeal | Non-Executive Director | 1,548,651 1 |
| Adonis Pouroulis | Chief Executive Officer | 10,324,343 2 |
| Julian Maurice-Williams | Chief Financial Officer | 7,743,257 2 |
| Duncan Wallace | Technical Director | 7,743,257 2 |
1 Granted under the Non-Executive Directors’ Restricted Share Unit Plan
2 Granted under the Long Term Incentive Share Scheme
Matching awards
In accordance with the Company’s Non-Executive Directors’ Restricted Share Unit Plan on 2 October 2026, Chairman Andrew Hockey was granted 714,285 matching share awards over Ordinary Shares in the Company. The awards were granted to match the purchase of shares made by Andrew Hockey on 12 March 2026. The matching awards are conditional on retention of such purchased shares until the awards vest. The matching share awards will vest in three equal instalments on 12 March 2027, 12 March 2028 and 12 March 2029.
Historic share awards amended
Certain historic share awards held by certain Directors have either expired or are due to expire during 2026 without having been exercised. In recognition of their long-standing commitment to the Company, and having not exercised previously vested awards, where all conditions have been met, the Board has approved an extension to the exercise period of the relevant awards to 2 October 2029. To the extent any such awards have already expired under the plans, equivalent replacement awards have been granted on the same basis and with the same extended expiry period. The effect on the number of shares subject to awards held by the Directors is net neutral (i.e. the same number of shares will be outstanding under all share awards held by the Directors).
| Directors | Position | Number of Shares Awards |
| Adonis Pouroulis | Chief Executive Officer | 72,463 3 |
| Julian Maurice-Williams | Chief Financial Officer | 1,302,691 4 |
| Duncan Wallace | Technical Director | 637,500 4 |
3 Granted under the Non-Executive Directors’ Restricted Share Unit Plan, whilst Adonis Pouroulis was a Non-Executive Director
4 Granted under the Long Term Incentive Share Scheme
| a) | Name | Adonis Pouroulis |
| Reason for the Notification | ||
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 20,253,165 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Julian Maurice-Williams |
| Reason for the Notification | ||
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 15,189,873 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Duncan Wallace |
| Reason for the Notification | ||
| a) | Position/status | Technical Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest evenly on 30 June 2027, 2028 and 2029 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 11,392,405 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Andrew Hockey |
| Reason for the Notification | ||
| a) | Position/status | Non-Executive Chairman |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 June 2027 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 2,581,086 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Chris Zeal |
| Reason for the Notification | ||
| a) | Position/status | Non-Executive Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 June 2027 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 1,548,651 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Adonis Pouroulis |
| Reason for the Notification | ||
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 10,342,343 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Julian Maurice-Williams |
| Reason for the Notification | ||
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 7,743,257 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Duncan Wallace |
| Reason for the Notification | ||
| a) | Position/status | Technical Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest on 30 June 2027 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 7,743,257 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Andrew Hockey |
| Reason for the Notification | ||
| a) | Position/status | Non-Executive Chairman |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 evenly on 12 March 2027, 2028 and 2029 and will remain exercisable until 2 October 2036. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 714,285 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Adonis Pouroulis |
| Reason for the Notification | ||
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 the Company's Non-Executive Directors' Restricted Share Unit Plan to remain exercisable until 2 October 2029. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 72,463 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Julian Maurice-Williams |
| Reason for the Notification | ||
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest immediately and will remain exercisable until 2 October 2029. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 433,125 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Julian Maurice-Williams |
| Reason for the Notification | ||
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 2 October 2029. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 869,566 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Details of the person discharging managerial responsibilities / person closely associated
| a) | Name | Duncan Wallace |
| Reason for the Notification | ||
| a) | Position/status | Technical Director |
| b) | Initial notification/Amendment | Initial notification |
| a) | Name | Chariot Limited |
| b) | LEI | 21380046DOGKITYU6X54 |
| 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 Long Term Incentive Share Scheme these options will vest immediately and will remain exercisable until 2 October 2029. |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £nil 637,500 |
| d) | Aggregated information: Aggregated volume Price | Not applicable, single transaction. |
| e) | Date of the transaction | 2 October 2026 |
| f) | Place of the transaction | Outside a trading venue. |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.