Last checked at 13 Jul 2018 07:00
13 July 2018
Tlou Energy Limited
("Tlou" or "the Company")
Directors participation in the Entitlement Offer
Tlou Energy Limited (AIM: TLOU) announces that pursuant to the announcement made on 6 June 2018, the Directors took up their full entitlement in the Offer including their sub-writing commitments. The Directors stated below informed the Company today that consequently they have subscribed for, and been allotted, in aggregate 5,533,628 Tlou Energy Limited ordinary shares of no par value ("Ordinary Shares") at a price of A$0.10 (£0.0575) per share.
Following their subscriptions, the Directors' total holdings and percentages of the voting rights of the Company are as follows:
|
*Includes interests held by the directors, related parties and entities in which the directors have a controlling interest.
Additional information on these subscriptions is included in the dealing disclosures below.
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 | |
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 |
1 | Details of the person discharging managerial responsibility / person closely associated
| |
a) |
Name |
Anthony Gilby |
2 | Reason for the notification | |
a) |
Position/status |
Managing Director and Chief Executive Officer |
b) |
Initial notification/amendment |
Initial notification |
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 |
Tlou Ordinary Shares | |
Identification code |
Ordinary share ISIN : AU000000TOU2 | ||
b) |
Nature of transaction | 1. Entitlement offer of ordinary shares.
| |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
1. £0.0575/A$0.10 | 1. 3,505,302 | ||
d) |
Aggregated information | ||
Aggregated volume |
N/A | ||
Price |
N/A | ||
e) |
Date of transaction |
13 July 2018 | |
f) |
Place of transaction |
Outside a trading venue | |
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 notification |
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 |
Tlou Ordinary Shares | |
Identification code |
Ordinary share ISIN : AU000000TOU2 | ||
b) |
Nature of transaction | 2. Entitlement offer of ordinary shares.
| |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
2. £0.0575/A$0.10 | 2. 411,587 | ||
d) |
Aggregated information | ||
Aggregated volume |
N/A | ||
Price |
N/A | ||
e) |
Date of transaction |
13 July 2018 | |
f) |
Place of transaction |
Outside a trading venue | |
1 | Details of the person discharging managerial responsibility / person closely associated
| |
a) |
Name |
Hugh Swire |
2 | Reason for the notification | |
a) |
Position/status |
Non-Executive Director |
b) |
Initial notification/amendment |
Initial notification |
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 |
Tlou Ordinary Shares | |
Identification code |
Ordinary share ISIN : AU000000TOU2 | ||
b) |
Nature of transaction | 3. Entitlement offer of ordinary shares.
| |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
3. £0.0575/A$0.10 | 3. 1,500,725 | ||
d) |
Aggregated information | ||
Aggregated volume |
N/A | ||
Price |
N/A | ||
e) |
Date of transaction |
13 July 2018 | |
f) |
Place of transaction |
Outside a trading venue | |
1 | Details of the person discharging managerial responsibility / person closely associated
| |
a) |
Name |
Martin McIver |
2 | Reason for the notification | |
a) |
Position/status |
Chairman |
b) |
Initial notification/amendment |
Initial notification |
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 |
Tlou Ordinary Shares | |
Identification code |
Ordinary share ISIN : AU000000TOU2 | ||
b) |
Nature of transaction | 4. Entitlement offer of ordinary shares.
| |
c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
4. £0.0575/A$0.10 | 4. 116,014 | ||
d) |
Aggregated information | ||
Aggregated volume |
N/A | ||
Price |
N/A | ||
e) |
Date of transaction |
13 July 2018 | |
f) |
Place of transaction |
Outside a trading venue | |
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 expensive imported power and diesel generation to fulfil its power 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 power.
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, 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 of ~261 billion cubic feet (3P).
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.