TIDMTLOU
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 +61 7 3012 9793
Tony Gilby, Managing Director
----------------------
Solomon Rowland, General Manager
----------------------
Grant Thornton (Nominated Adviser) +44 (0)20 7383 5100
----------------------
Samantha Harrison, Colin Aaronson, Harrison
Clarke, Seamus Fricker
----------------------
Shore Capital (Broker) +44 (0) 207 408 4090
----------------------
Jerry Keen, Toby Gibbs, Mark Percy
----------------------
FlowComms Limited (Investor Relations) +44 (0) 7891 677 441
----------------------
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 Km(2) 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.
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 or visit www.rns.com.
END
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