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Tlou Energy Limited

Director/PDMR Shareholding

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RNS Number : 9427K
Tlou Energy Ltd
02 September 2019
 

2 September 2019

 

Tlou Energy Limited

("Tlou" or "the Company")

 

Director Share Purchase

 

 

Tlou Energy Limited, (AIM: TLOU; ASX: TOU; BSE: TLOU) announces that on 29 August 2019, a related party of Colm Cloonan, Finance Director of the Company, purchased 100,000 ordinary shares in the Company at a price per Ordinary Share of 4.54p and for a total cost of £4,540.

 

Following this transaction, Colm Cloonan owns directly and indirectly a shareholding of 1,181,112 Ordinary Shares.

 

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above. 

 

 

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

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

 

Ordinary Shares

 

Identification code

 

Tlou Energy Limited ordinary shares with ISIN : AU000000TOU2

 

b)

 

Nature of transaction

 

Purchase of Shares on market.

 

 

c)

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

GBP £0.0454

100,000

 

d)

 

Aggregated information

 

Aggregated volume

 

100,000

 

Price

 

GBP £4,540.00

 

e)

 

Date of transaction

 

29 August 2019

 

f)

 

Place of transaction

 

London Stock Exchange

 

****

 

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 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.

 

 


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 [email protected] or visit www.rns.com.
 
END
 
 
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Quick facts: Tlou Energy Limited

Price: 5.1

Market: AIM
Market Cap: £22.96 m
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