Last checked at 2 Sep 2019 15:11
2 September 2019
Tlou Energy Limited
("Tlou" or "the Company")
Director Share Purchase
Tlou Energy Limited, (AIM: TLOU; ASX: TOU; BSE: TLOU) announces that on 29 August 2019, a related party of Colm Cloonan, Finance Director of the Company, purchased 100,000 ordinary shares in the Company at a price per Ordinary Share of 4.54p and for a total cost of £4,540.
Following this transaction, Colm Cloonan owns directly and indirectly a shareholding of 1,181,112 Ordinary Shares.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.
1 | Details of the person discharging managerial responsibility / person closely associated
| |
a) |
Name |
Colm Cloonan |
2 | Reason for the notification | |
a) |
Position/status |
Finance Director |
b) |
Initial notification/amendment |
Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) |
Name |
Tlou Energy Limited |
b) |
LEI |
213800SHI2BVAY1A4L52 |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
a) |
Description of the financial instrument, type of instrument |
Ordinary Shares | |
Identification code |
Tlou Energy Limited ordinary shares with ISIN : AU000000TOU2 | ||
b) |
Nature of transaction |
Purchase of Shares on market.
| |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
GBP £0.0454 | 100,000 | ||
d) |
Aggregated information | ||
Aggregated volume |
100,000 | ||
Price |
GBP £4,540.00 | ||
e) |
Date of transaction |
29 August 2019 | |
f) |
Place of transaction |
London Stock Exchange | |
****
For further information regarding this announcement please contact:
Tlou Energy Limited | +61 7 3012 9793 |
Tony Gilby, Managing Director | |
Solomon Rowland, General Manager | |
Grant Thornton (Nominated Adviser) | +44 (0)20 7383 5100 |
Samantha Harrison, Colin Aaronson, Harrison Clarke, Seamus Fricker | |
Shore Capital (Broker) | +44 (0) 207 408 4090 |
Jerry Keen, Toby Gibbs, Mark Percy | |
FlowComms Limited (Investor Relations) | +44 (0) 7891 677 441 |
Sasha Sethi |
Company Information
Tlou Energy is focused on delivering Gas-to-Power solutions in Botswana and southern Africa to alleviate some of the chronic power shortage in the region. Tlou is developing projects using coal bed methane (CBM) natural gas. Botswana has a significant energy shortage and generally relies on imported power and diesel generation to fulfil its electricity requirements.
As 100% owner of the most advanced gas project in the country, the Lesedi CBM Project, Tlou Energy provides investors with access to a compelling opportunity using domestic gas to produce power and displace expensive diesel and imported electricity.
The Company is listed on the Australian Securities Exchange, London's AIM market and the Botswana Stock Exchange and is led by an experienced Board, management and advisory team including individuals with successful track records in the CBM industry.
Since establishment, the Company has significantly de-risked the project in consideration of its goal to become a significant gas-to-power producer. The Company flared its first gas in 2014 and has a 100% interest over its Mining Licence and ten Prospecting Licences covering an area of ~9,300 Km2 in total.
The Lesedi and Mamba Projects already benefit from significant independently certified 2P gas Reserves of ~41 BCF. In addition, 3P gas Reserves of ~427 BCF and Contingent Gas Resources of ~3,043 BCF provide significant additional potential. The Company's newest licence area designated "Boomslang", is situated adjacent to the Company's Lesedi project, and is located on-trend with the results observed to date at the Lesedi project and is considered to be highly prospective.
The Company is planning an initial scalable gas-to-power project. Following successful implementation of this first scalable project, the Company looks forward to evaluating longer-term prospects for the delivery of electricity generated from CBM in Botswana to neighbouring countries.