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TLOU Tlou Energy Limited

2.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tlou Energy Limited LSE:TLOU London Ordinary Share AU000000TOU2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.30 2.10 2.50 2.30 2.30 2.30 44,367 08:00:23
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Leather Tanning & Finishing 0 -4.24M -0.0039 -10.26 43.06M

Tlou Energy Ltd Issue of Shares - Performance Rights Plan (5821Z)

18/12/2017 7:00am

UK Regulatory


Tlou Energy (LSE:TLOU)
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TIDMTLOU

RNS Number : 5821Z

Tlou Energy Ltd

18 December 2017

18 December 2017

Tlou Energy Limited

("Tlou" or "the Company")

Issue of Shares - Performance Rights Plan

Tlou Energy Limited, the company focused on developing Gas-to-Power projects in Botswana and southern Africa through the development of coal bed methane ("CBM") natural gas, has issued shares following satisfaction of Conditions under of its Performance Rights Plan.

At the Company's Annual General Meeting ("AGM") on 10 November 2016, shareholder approval was granted for the issue of 2,000,000 Performance Rights to the Directors of the Company. In addition to the Performance Rights being issued to Directors, a further 2,550,000 Performance Rights were issued to senior management and consultants with the same performance conditions attached.

The Performance Rights are linked to the share price performance of the Company, ensuring alignment with the interests of the Company's shareholders. The Performance Rights are split into two equal Tranches. For the Performance Rights issued under the Plan to vest and therefore become exercisable by a participant, the following performance conditions are required to be met:

 
 Tranche     Performance Condition 
----------  ---------------------------------------- 
 Tranche 1   The closing price of Shares being 
              50% or more above the price at the 
              date of shareholder approval for 
              a period of 10 consecutive trading 
              days. 
----------  ---------------------------------------- 
 Tranche 2   The closing price of Shares being 
              100% or more above the price at 
              the date of shareholder approval 
              for a period of 10 consecutive trading 
              days. 
----------  ---------------------------------------- 
 

Notes:

   --              The date of shareholder approval was 10 November 2016 
   --              The share price on 10 November 2016 was AUD $0.14 

-- For Tranche 1 to vest the share price needs to be AUD $0.21 per share or greater for a period of 10 consecutive trading days

-- For Tranche 2 to vest the share price needs to be AUD $0.28 or greater for a period of 10 consecutive trading days

On vesting, holders of Performance Rights will be entitled to acquire Tlou Energy Limited ordinary shares at nil cost.

The conditions for Tranche 1 have been met so 2,275,000 shares have been issued to Directors, staff and consultants of the Company in accordance with the terms of the Performance Rights Plan. Following the issue of the Performance Rights shares, the interests of Directors in the Company will be as per the table below. The Directors do not hold any share options.

 
                        Ordinary Shares   Percentage   Performance 
                             (including       of the        Rights 
                          shares issued      Company       not yet 
                          under Tranche                     issued 
                   1 of the Performance                   (Tranche 
                           Rights plan)                         2) 
---------------  ----------------------  -----------  ------------ 
 Martin 
  McIver                        696,088        0.21%       250,000 
---------------  ----------------------  -----------  ------------ 
 Anthony 
  Gilby                      18,196,487        5.52%       250,000 
---------------  ----------------------  -----------  ------------ 
 Gabaake 
  Gabaake                       330,857        0.10%       250,000 
---------------  ----------------------  -----------  ------------ 
 Colm Cloonan                   669,525        0.20%       250,000 
---------------  ----------------------  -----------  ------------ 
 Hugh Swire                   3,064,366        0.93%             - 
---------------  ----------------------  -----------  ------------ 
 Linah Mohohlo                        -            -             - 
---------------  ----------------------  -----------  ------------ 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

**S**

For further information regarding this announcement please contact:

 
 Tlou Energy Limited                    +61 7 3012 9793 
------------------------------------  --------------------- 
 Tony Gilby, Managing Director 
------------------------------------  --------------------- 
 Solomon Rowland, Company Secretary 
------------------------------------  --------------------- 
 
 Grant Thornton (Nominated 
  Adviser)                              +44 (0)20 7383 5100 
------------------------------------  --------------------- 
 Samantha Harrison, Colin Aaronson, 
  Harrison Clarke 
------------------------------------  --------------------- 
 
                                        +44 (0) 207 408 
 Shore Capital (Joint Broker)            4090 
------------------------------------  --------------------- 
 Jerry Keen, Mark Percy, Toby 
  Gibbs 
------------------------------------  --------------------- 
 
 Optiva Securities Limited 
  (Joint Broker)                        +44 (0)20 3137 1904 
------------------------------------  --------------------- 
 Jeremy King, Christian Dennis 
------------------------------------  --------------------- 
 
 St Brides Partners Limited             +44 (0) 20 7236 
  (Public Relations)                     1177 
------------------------------------  --------------------- 
 Lottie Wadham, Megan Dennison, 
  Susie Geliher 
------------------------------------  --------------------- 
 
 FlowComms Limited (Investor            +44 (0) 7891 677 
  Relations)                             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's is developing projects using coal bed methane ("CBM") natural gas. Botswana has a severe energy shortage and is currently relying on expensive imported power and diesel generation to deliver its 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 8,300Km(2) 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 in Botswana. Following successful implementation of this first scalable project, the Company plans to expand to provide further power to Botswana and the southern African region.

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 
1    Details of the person discharging managerial responsibilities / person closely associated 
a)   Name                                 Martin McIver 
2    Reason for the notification 
a)   Position/status                      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         Ordinary shares no par value 
     instrument, type of instrument 
     Identification code                  AU000000TOU2 
b)   Nature of the transaction            Issue of Shares under the Performance Rights Plan announced by Tlou Energy 
                                          Limited on 10 February 
                                          2017 
c)   Price(s) and volume(s)                Price(s)                             Volume(s) 
   A$0.00                                                                       250,000 
d)   Aggregated information 
 - Aggregated volume                  Aggregate volume: 250,000 
  - Price                              Aggregate price: A$0.00 
                                       Aggregate total: A$0.00 
 
e)   Date of the transaction              18 December 2017 
f)   Place of the transaction             Australian Securities Exchange 
 

Notification of Transactions of Persons Discharging Managerial Responsibility and Persons Closely Associated with them

 
1    Details of the person discharging managerial responsibilities / person closely associated 
a)   Name                                 Anthony Gilby 
2    Reason for the notification 
a)   Position/status                      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         Ordinary shares no par value 
     instrument, type of instrument 
     Identification code                  AU000000TOU2 
b)   Nature of the transaction            Issue of Shares under the Performance Rights Plan announced by Tlou Energy 
                                          Limited on 10 February 
                                          2017 
c)   Price(s) and volume(s)                Price(s)                             Volume(s) 
   A$0.00                                                                       250,000 
d)   Aggregated information 
 - Aggregated volume                  Aggregate volume: 250,000 
  - Price                              Aggregate price: A$0.00 
                                       Aggregate total: A$0.00 
 
e)   Date of the transaction              18 December 2017 
f)   Place of the transaction             Australian Securities Exchange 
 
 
1    Details of the person discharging managerial responsibilities / person closely associated 
a)   Name                                 Colm Cloonan 
2    Reason for the notification 
a)   Position/status                      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         Ordinary shares no par value 
     instrument, type of instrument 
     Identification code                  AU000000TOU2 
b)   Nature of the transaction            Issue of Shares under the Performance Rights Plan announced by Tlou Energy 
                                          Limited on 10 February 
                                          2017 
c)   Price(s) and volume(s)                Price(s)                             Volume(s) 
   A$0.00                                                                       250,000 
d)   Aggregated information 
 - Aggregated volume                  Aggregate volume: 250,000 
  - Price                              Aggregate price: A$0.00 
                                       Aggregate total: A$0.00 
 
e)   Date of the transaction              18 December 2017 
f)   Place of the transaction             Australian Securities Exchange 
 
 
1    Details of the person discharging managerial responsibilities / person closely associated 
a)   Name                                 Gabaake Gabaake 
2    Reason for the notification 
a)   Position/status                      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         Ordinary shares no par value 
     instrument, type of instrument 
     Identification code                  AU000000TOU2 
b)   Nature of the transaction            Issue of Shares under the Performance Rights Plan announced by Tlou Energy 
                                          Limited on 10 February 
                                          2017 
c)   Price(s) and volume(s)                Price(s)                             Volume(s) 
   A$0.00                                                                       250,000 
d)   Aggregated information 
 - Aggregated volume                  Aggregate volume: 250,000 
  - Price                              Aggregate price: A$0.00 
                                       Aggregate total: A$0.00 
 
e)   Date of the transaction              18 December 2017 
f)   Place of the transaction             Australian Securities Exchange 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDXBDDCUBBGRR

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December 18, 2017 02:00 ET (07:00 GMT)

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