https://www.engineeringnews.co.za

Tlou raises A$5.2m for CBM projects

27th March 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX- and Aim-listed Tlou Energy has raised some A$5.2-million through a share placement to fund work at its coal bed methane (CBM) projects, in Botswana and elsewhere in Southern Africa.

The company placed more than 51.78-million shares at an issue price of 10c each, to sophisticated and professional investors in Australia and the UK.

The placement price represented a discount of between 12% and 19% on the ten-day volume weighted average price for Tlou shares on the ASX and Aim markets.

MD Tony Gilby said on Monday that the placement, along with a recently announced agreement with Independent Power Corporation, provided significant momentum for Tlou to progress upstream and downstream components for its Lesedi CBM project, with the objective of supplying the first gas-fired power in Botswana.

Tlou is now offering shareholders the opportunity to participate in a share purchase plan to raise a further A$2-million.

Shareholders will be allowed to subscribe for up to A$15 000 worth of new shares.

Edited by Creamer Media Reporter

Comments

Latest News

A WTO logo on an office building
South Africa makes second WTO complaint over EU citrus rules
Updated 1 hour 20 minutes ago By: Reuters

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.175 0.231s - 156pq - 2rq
Subscribe Now