Tlou Energy Ltd Exercise of Options (3047Y)
04 December 2017 - 11:51PM
UK Regulatory
TIDMTLOU
RNS Number : 3047Y
Tlou Energy Ltd
04 December 2017
4 December 2017
Tlou Energy Limited
("Tlou" or "the Company")
Exercise of Options
Tlou Energy Limited, the AIM and ASX listed company focused on
delivering power in Botswana and southern Africa through the
development of coal bed methane ("CBM"), announces the issue of
500,000 Ordinary Shares in the Company following the exercise of
options at a price of AUD$0.14 per share. The new Ordinary Shares
rank pari passu with the Company's existing issued Ordinary Shares.
Application has been made for the admission of the new Shares to
trading on AIM, with admission expected to occur at 8.00 a.m. on 5
December 2017 (London time).
Following admission of the new Ordinary Shares, the Company's
enlarged issued share capital will comprise 306,042,848 Ordinary
Shares. The Company holds zero shares in treasury. Therefore, when
calculating voting rights, shareholders should use the figure of
306,042,848 as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
For further information regarding this announcement please
contact:
Tlou Energy Limited +61 7 3012 9793
------------------------------------ ---------------------
Tony Gilby, Managing Director
------------------------------------ ---------------------
Solomon Rowland, Company Secretary
------------------------------------ ---------------------
Grant Thornton (Nominated
Adviser) +44 (0)20 7383 5100
------------------------------------ ---------------------
Samantha Harrison, Colin Aaronson,
Harrison Clarke
------------------------------------ ---------------------
+44 (0) 207 408
Shore Capital (Joint Broker) 4090
------------------------------------ ---------------------
Jerry Keen, Mark Percy, Toby
Gibbs
------------------------------------ ---------------------
Optiva Securities Limited
(Joint Broker) +44 (0)20 3137 1904
------------------------------------ ---------------------
Jeremy King, Christian Dennis
------------------------------------ ---------------------
St Brides Partners Limited +44 (0) 20 7236
(Public Relations) 1177
------------------------------------ ---------------------
Lottie Wadham, Megan Dennison,
Susie Geliher
------------------------------------ ---------------------
FlowComms Limited (Investor +44 (0) 7891 677
Relations) 441
------------------------------------ ---------------------
Sasha Sethi
------------------------------------ ---------------------
Company Information
Tlou Energy is an AIM and ASX listed company focused on
delivering power in Botswana through the development of coal bed
methane ("CBM") gas. Botswana has a severe energy shortage and is
currently relying on expensive imported power and diesel generation
to deliver its requirements. However, as the 100% owners of the
most advanced gas project in the country, the Lesedi CBM Project,
Tlou Energy provides investors with access to a compelling
immediate and longer-term opportunity using domestic gas to produce
power and displace expensive diesel and imported power.
The Company is led by an experienced Board, management and
advisory team including individuals with successful track records
in the Australian CBM industry.
Since establishment in 2009, the Company has significantly
de-risked the project in consideration of its goal to become a
significant gas-to-power producer. The Company has the most
advanced CBM project in Botswana and flared its first gas in 2014.
It holds a Mining Licence and nine Prospecting Licences, covering
an area of 8,300Km(2) in total, and the Lesedi Project already
benefits from significant independently certified Contingent Gas
Resources of 3.2 trillion cubic feet (3C) and independently
certified Gas Reserves of 261 billion cubic feet (3P).
The Company is planning an initial scalable gas-to-power project
in Botswana. Following successful implementation of this first
scalable project, the Company plans to expand to provide further
power to Botswana and the southern African region.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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