Notice of Annual General Meeting

RNS Number : 2570M

Tlou Energy Ltd

13 September 2019

 

13 September 2019

Tlou Energy Limited

("Tlou" or "the Company")

Notice of Annual General Meeting

Tlou Energy Limited, (AIM: TLOU; ASX: TOU; BSE: TLOU) wishes to advise that the Annual General Meeting of the Company will be held at BDO, Level 10, 12 Creek Street, Brisbane QLD 4000, Australia on Thursday 17 October 2019 at 10.00am (Brisbane time).

The Notice of Annual General Meeting, which contains an explanatory memorandum, has been sent to shareholders together with the Company's 2019 Annual Report and these documents are available for download on the Company's website: http://tlouenergy.com/reports.

Shareholders will be asked to consider and vote on the resolutions below. Resolutions 1 to 4 will be proposed as ordinary resolutions and resolution 5 will be proposed as a special resolution.

1.     Resolution 1 - Non-Binding Resolution to Adopt Remuneration Report

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That the Remuneration Report as set out in the Annual Report for the year ended 30 June 2019 be adopted."

Note: The vote on this resolution is advisory only and does not bind the Directors or the Company.

2.     Resolution 2 - Re-election of Mr Colm James Cloonan as a Director

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That, Colm James Cloonan, who retires in accordance with Article 46(c) of the Constitution and, being eligible for re-election, be re-elected as a Director with effect from the close of this Annual General Meeting."

3.      Resolution 3 - Ratification of the Issue of Shares Issued on 11 April 2018

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, the issue of 12,000,000 ordinary fully paid shares at A$0.10 on 11 April 2019 to institutional and sophisticated investors on the terms and conditions set out in Explanatory Memorandum is ratified."

4.      Resolution 4 - Ratification of the Issue of Shares Issued on 26 April 2019

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

"That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, the issue of 29,066,650 ordinary fully paid shares at BWP0.75 or A$0.10 on 26 April 2019 to institutional and sophisticated investors on the terms and conditions set out in Explanatory Memorandum is ratified."

5.      Resolution 5 - Approval of 10% Placement Capacity

To consider, and if thought fit, to pass the following resolution as a Special Resolution:

"That, for the purposes of ASX Listing Rule 7.1A and for all other purposes, approval be given for the issue of Equity Securities of up to 10% of the issued capital of the Company (at the time of the issue or the agreement to issue) calculated in accordance with the formula prescribed in ASX Listing Rule 7.1A.2 and on the terms and conditions set out in the Explanatory Memorandum."

****

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, Seamus Fricker
Shore Capital (Broker)	[phone]
Jerry Keen, Toby Gibbs, Mark Percy
FlowComms Limited (Investor Relations)	[phone]
Sasha Sethi

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 imported power and diesel generation to fulfil its electricity 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 electricity.

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 and has a 100% interest over its Mining Licence and ten Prospecting Licences covering an area of ~9,300 Km² in total. 

The Lesedi and Mamba Projects already benefit from significant independently certified 2P gas Reserves of ~41 BCF.  In addition, 3P gas Reserves of ~427 BCF and Contingent Gas Resources of ~3,043 BCF provide significant additional potential.  The Company's newest licence area designated "Boomslang", is situated adjacent to the Company's Lesedi project, and is located on-trend with the results observed to date at the Lesedi project and is considered to be highly prospective.

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

 

 

NOAGMGMLNFDGLZG