REG - Tlou Energy Ltd - Completion of Private Placement

TLOU EnergyAnnouncement

06/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231006:nRSF9002Oa&default-theme=true

RNS Number : 9002O  Tlou Energy Ltd  06 October 2023

 

6 October 2023

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Completion of Private Placement

 

 

Tlou Energy Limited is pleased to announce that it has raised A$678,976.62
(~£355,000, ~BWP5.85 million) pursuant to a placing of 19,399,332 new
ordinary shares of no par value at an issue price of A$0.035 (~£0.0183,
~BWP0.30) per share ("New Shares").

 

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

 

The issue price represents approximately a 25% premium to the closing ASX
share price on 5 October 2023 of A$0.028 and a 21.4% premium to the 15-day
volume weighted average price for Tlou's shares traded on the ASX of
A$0.02882.

 

The 19,399,332 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 Monday 9 October 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
12 October 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 1,043,982,357 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
1,043,982,357 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

 Zeus Capital (UK Broker)                         +44 (0)20 3829 5000
 Simon Johnson

 Investor Relations
 Ashley Seller (Australia)                        +61 418 556 875
 FlowComms Ltd - Sasha Sethi (UK)                 +44 (0) 7891 677 441

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEDBBDGGXGDGXU