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Tlou Energy Ltd - Exercise of Options

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




Shore Capital (Joint Broker)

+44 (0) 207 408 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 (Public Relations)

+44 (0) 20 7236 1177

Lottie Wadham, Megan Dennison, Susie Geliher




FlowComms Limited (Investor Relations)

+44 (0) 7891 677 441

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 ~8,300Km2 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
 
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Quick facts: Tlou Energy Limited

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Market: AIM
Market Cap: -
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