Directors participation in the Entitlement Offer

RNS Number : 5583U

Tlou Energy Ltd

13 July 2018

 

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:

Number of Shares held prior to the Entitlement Offer* Number of Offer Shares subscribed for as pro-rata entitlement Number of shares under the sub-writing commitment Total Number of Shares held post the Entitlement Offer and Shortfall Placing* % Holding post Entitlement Offer and Shortfall Placing Tony Gilby 18,196,487 2,595,302 910,000 21,701,789 5.30% Colm Cloonan 669,525 111,587 300,000 1,081,112 0.26% Hugh Swire 3,064,366 510,725 990,000 4,565,091 1.12% Martin McIver 696,088 116,014 - 812,102 0.20%

*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	[phone]
Tony Gilby, Managing Director
Solomon Rowland, General Manager
Grant Thornton (Nominated Adviser)	[phone]
Samantha Harrison, Colin Aaronson, Harrison Clarke
Shore Capital (Broker)	[phone]
Jerry Keen, Toby Gibbs, Mark Percy
FlowComms Limited (Investor Relations)	[phone]
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.

 

END

 

 

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