Tlou Energy Ltd - Botswana and Southern Africa-focused energy company - Announces entitlement offer for four new ordinary shares for every eleven ordinary shares held, at a price of AUD0.035 each to raise AUD13.3 million. Explains the offer is open to ASX and BSE shareholders only. Says certain directors are participating in the entitlement offer with commitments in place for a minimum of AUD613,308. Funds raised and existing capital will go towards development of Tlou's Lesedi power project and working capital.
Current stock price: 1.80 pence, up 9.1%
12-month change: up 8.4%
By Jeremy Cutler, Alliance News reporter
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Tlou Energy (TLOU)