Tlou Energy Ltd Listing on BSE approved and issue of share capital (0280Z)
12 December 2017 - 6:00PM
UK Regulatory
TIDMTLOU
RNS Number : 0280Z
Tlou Energy Ltd
12 December 2017
12 December 2017
Tlou Energy Limited
("Tlou" or "the Company")
Listing on Botswana Stock Exchange approved and issue of share
capital
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 that formal
approval has been granted for the Company to list on the Botswana
Stock Exchange ("BSE") and 21,153,845 ordinary fully paid shares
will be issued to investment funds managed by African Alliance
Botswana Limited, a leading asset manager based in Botswana.
-- Allotment of shares will be made on 12 December 2017;
-- Trading on the BSE expected to commence on 13 December 2017;
-- Funds raised from the issue of the new shares amounts to P33
million (approximately GBP2.4 million or A$4.1 million) at a
subscription price of P1.56 (approximately GBP0.11 or A$0.20)
The proceeds of the share subscription together with existing
cash will be applied by Tlou to complete the current seismic and
core hole appraisal program, commence first phase development
drilling at the Lesedi project, fund the costs of the BSE listing
and share subscription and for working capital purposes. 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 14 December 2017 (London time). Admission to trading
on the ASX is expected to occur at 10.00 a.m. on 13 December 2017
(Sydney time). A copy of the abridged BSE pre-listing statement can
be viewed at www.tlouenergy.com from 13 December 2017.
Following admission of the new Ordinary Shares, the Company's
enlarged issued share capital will comprise 327,196,693 Ordinary
Shares. The Company holds zero shares in treasury. Therefore, when
calculating voting rights, shareholders should use the figure of
327,196,693 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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