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
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