Replacement: Exercise of Options

RNS Number : 6948T

Tlou Energy Ltd

16 October 2017

 

The following amendment has been made to the 'Exercise of Options' announcement released on 16 October 2017 at 09:18 a.m. under RNS No 6742T.

Application will be made for the admission of the new Shares to trading on AIM, with admission expected to occur at 8.00 a.m. on 20 October 2017 (London time). 

All other details remain unchanged.

The full amended text is shown below.

16 October 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 1,500,000 Ordinary Shares in the Company following the exercise of options at a price of 6.5 pence per share. The new Ordinary Shares rank pari passu with the Company's existing issued Ordinary Shares. Application will be made for the admission of the new Shares to trading on AIM, with admission expected to occur at 8.00 a.m. on 20 October 2017 (London time). 

Following admission of the new Ordinary Shares, the Company's enlarged issued share capital will comprise 305,542,848 Ordinary Shares. The Company holds zero shares in treasury. Therefore, when calculating voting rights, shareholders should use the figure of 305,542,848  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	[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]
Lottie Brocklehurst, Megan Dennison, Susie Geliher
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") 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.

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.

 

END

 

 

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