REG - Tlou Energy Ltd - Results of AGM and Chairman's Address

TLOU EnergyAnnouncement

18/10/2022 07:45

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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

****

 

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, 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.

 

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