Change of Director Interests

RNS Number : 6894J

Tlou Energy Ltd

13 September 2016

 

13 September 2016

Tlou Energy Limited

("Tlou" or "the Company")

Change of Director Interests

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and Southern Africa through the development of coal bed methane ('CBM') projects, announces the following changes to the security interests of the Directors of the Company as a result of dilution due to the recent placing announced on 31 August 2016 which the Directors did not participate in.

Following the placing announced on 31 August 2016 the director shareholdings have been diluted to the follows:

Name	Ordinary shares held	% interest in issued share capital
Martin McIver (1)	296,088	0.12%
Anthony Gilby (2)	17,796,487	7.50%
Gabaake Gabaake (3)	80,857	0.03%
Colm Cloonan (4)	269,525	0.11%

 (1) Arrowhead Family S/F A/C (an entity controlled by Martin McIver) (which holds 97,201 Ordinary Shares) and Arrowhead Family Super A/C (an entity controlled by Martin McIver) (which holds 168,087 Ordinary Shares).

(2) Gilby Super Pty Ltd at Gilby Superannuation Fund A/C (which holds 10,704,240 Ordinary Shares), Gilby Resources Pty Ltd atf the Gilby Investment A/C (which holds 4,825,105 Ordinary Shares) and SARES2 Pty Ltd ATF (an entity that Anthony Gilby has a 50 per cent. beneficial interest in) (which holds 571,812 Ordinary Shares).

(3) 80,857 Ordinary Shares are held through 2G Investment Holdings (PTY) (an entity owned by Gabaake Gabaake).

(4) Mr Cloonan holds 40,754 Ordinary Shares in the Company directly and 228,771 indirectly through his spouse.

For further information regarding this announcement please contact:

Tlou Energy Limited	[phone]
Gabaake Gabaake, Acting Managing Director
Solomon Rowland, Company Secretary
Grant Thornton (Nominated Adviser)	[phone]
Jen Clarke, Colin Aaronson, Harrison Clarke
Brandon Hill Capital (Financial Adviser and Joint broker)	[phone]
Jonathan Evans, Alex Walker
Optiva Securities Limited (Joint broker)	[phone]
Jeremy King, Christian Dennis
St Brides Partners Limited (Public relations)
Elisabeth Cowell, Lottie Brocklehurst	[phone]

Company Information

Tlou Energy is an AIM and ASX listed company focused on delivering power in Botswana through the development of coal bed methane ('CBM') projects.  Botswana has a severe energy shortage and is currently relying on expensive imported power and diesel generation to deliver its requirements.  However, as the 100% owners of the most advanced gas project in the country, the Lesedi CBM Project ('Lesedi'), Tlou Energy provides investors with access to a compelling immediate and longer term opportunity using domestic gas to produce power and displace the expensive diesel and import market.

The Company is led by an experienced Board, management and advisory team including individuals with successful track records in the Australian CBM industry.

Since establishment in 2009 the Company has significantly de-risked the project in consideration of its goal to become a significant gas to power producer.  The Company has the most advanced CBM project in Botswana with gas flaring at its Selemo wells.  It holds 10 prospecting licences covering an area of ~8,300Km² and the Lesedi project already benefits from significant, independently certified contingent resources of ~3.3 trillion cubic feet (TCF) (3C).  Following completion of the current gas flow tests at Selemo the Company is looking to book certified gas reserves, thereby becoming the first company in Botswana to do so. 

The first planned gas-to-power solution is expected to be delivered through a scalable project with the Botswana Government.  Following successful implementation of this project the Company plans larger projects to provide further power to Botswana and the southern African region.

 

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