Results of AGM and Chairman's Address

RNS Number : 2317D

Tlou Energy Ltd

18 October 2022

 

18 October 2022

Tlou Energy Limited

("Tlou" or "the Company")

Results of Annual General Meeting and Chairman's Address

The Company's Annual General Meeting was held earlier today and all resolutions were duly passed. A presentation provided at the Annual General Meeting by Managing Director, Tony Gilby, is available on the Company's website https://tlouenergy.com/news. The Chairman's Statement, given by Tlou Chairman Martin McIver, is set out below.

Chairman's address - AGM

It gives me great pleasure to deliver the Chairman's address at Tlou's tenth AGM as a listed entity. 

We continue to make excellent progress towards establishing ourselves as a key power player in Botswana and Southern Africa through the exploration and development of gas and solar.  

During the year we signed an initial five-year 10MW power purchase agreement (PPA) with the Botswana Power Corporation (BPC), a major step forward for Tlou.

The most advanced project in the Company's pipeline is the Lesedi Power Project which once finalised will generate 10MW of gas-fired and solar power. Recent progress has seen the company reach significant project milestones including;

· Sustained gas flows

· The commencement of construction of the 100km overhead powerlines to connect Lesedi to the BPC grid

· The acquisition of land in the Lesedi project area where work is underway on developing a new purpose-built operations facility including accommodation and associated infurstructure.

We are privileged to have the continued support of the government of Botswana and the inclusion of coal bed methane (CBM) as part of the country's forward plan to combat power deficiency. 

In November 2021, the Company successfully raised USD 5 million through a convertible note with the Botswana Public Officers Pensions Fund (BPOPF). The funds raised will allow the company to progress the development of the Lesedi project, including the construction of the overhead transmission lines to connect the project to the electricity grid.

It is exciting to see the contribution that Tlou has already made to the region, and with its projects continuing to develop, it looks set to continue its work towards providing sustainable and secure energy solutions to Botswana and southern Africa.

Finally, and most importantly, I would like to take this opportunity to recognise the continuing support of our shareholders, without whom our project would not be possible.

Thank you.

By Authority of the Board of Directors

Mr. Anthony Gilby

Managing Director

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For further information regarding this announcement please contact:

Tlou Energy Limited	[phone]
Tony Gilby, Managing Director
Solomon Rowland, General Manager
Grant Thornton (Nominated Adviser)	[phone]
Harrison Clarke, Colin Aaronson, Ciara Donnelly
Arden Partners (UK Broker)	[phone]
Simon Johnson
Public Relations
Ashley Seller	[phone]

About Tlou

Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired power, solar power and hydrogen projects. The company is listed on the ASX (Australia), AIM (UK) and the BSE (Botswana). The Lesedi Gas-to-Power Project ("Lesedi") is 100% owned and is the Company's most advanced project.  Tlou's competitive advantages include the ability to drill cost effectively for gas, operational experience and Lesedi's strategic location in relation to energy customers. All major government approvals have been achieved.

Forward-Looking Statements

This announcement may contain certain forward-looking statements.  Actual results may differ materially from those projected or implied in any forward-looking statements.  Such forward-looking information involves risks and uncertainties that could significantly affect expected results.  No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved.  You are cautioned not to place any reliance on such statements or forecasts.  Those forward-looking and other statements speak only as at the date of this announcement. Save as required by any applicable law or regulation, Tlou Energy Limited undertakes no obligation to update any forward-looking statements.

 

END

 

 

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