2018 Non-Renounceable Entitlement Offer – Letters to Shareholders and Notification under Section 708AA(2)(f) of the Corporations Act 2001
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, has today issued letters to eligible and ineligible shareholders regarding the non-renounceable entitlement offer announced on 6 June 2018.
Copies of the letters to shareholders have been lodged with the Australian Securities Exchange (“ASX”) and are available on the ASX website www.asx.com.au and on the Company’s website www.tlouenergy.com.
Tlou has also given notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) as notionally modified by the ASIC Corporations Instrument 2016/84 and 2016/73 and such notification has been lodged with the ASX and is available on the ASX website www.asx.com.au and on the Company’s website www.tlouenergy.com.
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 ~8,300 km2 in total. The Lesedi project already benefits from significant independently certified Contingent Gas Resources of ~3 trillion cubic feet (3C), and independently certified Gas Reserves of ~427 billion cubic feet (3P) and ~41 billion cubic feet (2P).
The Company is planning an initial scalable gas-to-power project. Following successful implementation of this first scalable project, the Company plans to expand to provide further power across the southern African region.
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