REG - Tlou Energy Ltd - A$200k placement

TLOU EnergyAnnouncement

27/03/2023 07:15

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RNS Number : 2866U  Tlou Energy Ltd  27 March 2023

 

27 March 2023

 

Tlou Energy Limited

("Tlou" or "the Company")

 

A$200k placement

 

 

Tlou Energy Limited is pleased to announce that it has raised A$200,000
(~£110,000, ~BWP1.74 million) pursuant to a placing of 5,714,284 new ordinary
shares of no par value at an issue price of A$0.035 (~£0.02, ~BWP0.30) per
share ("New Shares").

 

The funds have been raised from Australian based sophisticated investors and
will go towards development of Tlou's Lesedi project in Botswana.

 

The issue price represents approximately a 5.4% discount to the closing ASX
share price on 24 March 2023 of A$0.037 and a 3.8% discount to the 15-day
volume weighted average price for Tlou's shares traded on the ASX of A$0.0363.

 

The 5,714,284 New Shares being issued under the Placement will be issued under
the Company's capacity under ASX Listing Rule 7.1. The settlement of the
Placement will be completed on Tuesday 28 March 2023.  Application will be
made for the allotment and quotation of the New Shares to trading on ASX, AIM,
and BSE with the quotation of the shares expected to take place on, or around
30 March 2023 ("Admission"). The New Shares will, when issued, be credited as
fully paid and will rank pari passu in all respects ‎with the Company's
existing issued ordinary shares from issue.

 

Total voting rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following the issue of the New Shares, the
Company's enlarged share capital will comprise 836,429,994 ordinary shares of
no par value ("Ordinary Shares"). All of the Ordinary Shares have equal voting
rights and there are no shares held in Treasury. This figure of 836,429,994
may be used by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a
change to their interest in, the Company under the DTRs.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

By Authority of the Board of Directors

Mr. Anthony Gilby

Managing Director

 

****

 

For further information regarding this announcement please contact:

 

 Tlou Energy Limited                              +61 7 3040 9084
 Tony Gilby, Managing Director
 Solomon Rowland, General Manager

 Grant Thornton (Nominated Adviser)               +44 (0)20 7383 5100
 Harrison Clarke, Colin Aaronson, Ciara Donnelly

 Arden Partners (UK Broker)                       +44 (0) 20 7614 5900
 Simon Johnson

 Public Relations
 Ashley Seller                                    +61 418 556 875

 

 

About Tlou

Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired
power and ancillary 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.

 

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