Extension to SPP announcement

RNS Number : 1357C

Tlou Energy Ltd

11 April 2017

 

11 April 2017

Tlou Energy Limited

("Tlou" or "the Company")

Extension of Closing Date of Share Purchase Plan

Tlou Energy Limited is an AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane ("CBM").

Key Points:

·    The closing date of the Share Purchase Plan will be extended until 21 April 2017 (see amended timetable below)

Share Purchase Plan

Tlou wishes to announce that the closing date for the Share Purchase Plan (SPP) announced on 24 March 2017 will be extended from Thursday 13 April 2017 to Friday 21 April 2017 to allow for receipt and processing of applications around the Easter public holiday period.

Eligible shareholders recorded on the Australian register at 7.00pm (AEDT) on 24 March 2017 with a registered address in Australia, New Zealand or United Kingdom are entitled to apply for new shares at the offer price of A$0.10 per share with a minimum investment of A$1,000 and up to a maximum investment of A$15,000 free of brokerage and other related transaction costs. 

New Timetable

The revised timetable for the SPP is set out in the table below. An SPP Offer Booklet and Acceptance Form were sent to eligible shareholders on 28 March 2017.

SPP offer closes (unless extended further by the Company)	Friday, 21 April 2017
Allotment and quotation of new shares under the SPP	Thursday, 27 April 2017
Dispatch of holding statements for SPP shares	Friday, 28 April 2017

The above timetable is indicative only and subject to change.  Tlou reserves the right to further extend the closing date for the SPP, to accept late applications or to withdraw the SPP without prior notice.  The commencement of quotation of new Shares is subject to confirmation from the ASX.

For further information regarding this announcement please contact:

Tlou Energy Limited	[phone]
Tony Gilby, Managing Director
Solomon Rowland, Company Secretary
Grant Thornton (Nominated Adviser)	[phone]
Samantha Harrison, Colin Aaronson, Harrison Clarke
Shore Capital (Joint Broker)	[phone]
Jerry Keen, Mark Percy, Toby Gibbs
Optiva Securities Limited (Joint Broker)	[phone]
Jeremy King, Christian Dennis
St Brides Partners Limited (Public Relations)	[phone]
Elisabeth Cowell, Lottie Brocklehurst
FlowComms Limited (Investor Relations)	[phone]
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') projects.  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 the expensive diesel and import market.

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 10 Prospecting Licences covering an area of ~8,300Km2 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.

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.

 

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