Tlou Energy Limited announcement summary

Tlou Energy Limited (ASX: $TOU) has successfully placed the entitlement offer shortfall shares, raising approximately A$6.2 million before costs. The Botswana Public Officers Pension Fund (BPOPF) has increased their shareholding to 16.63%. The funds received from the placement will be utilized to advance the Lesedi power project towards first power generation.

Executive Commentary

The Company is pleased to have received commitments totaling approximately A$6,215,879 for the 177,596,534 new shares that were not taken up under the Offer. This demonstrates confidence in our projects and will enable us to progress towards our goal of first power generation at the Lesedi project. We are also pleased to note the increased shareholding by the Botswana Public Officers Pension Fund, which further strengthens our strategic position.

Summary of Tlou Energy Limited Announcement

Tlou Energy Limited has successfully placed the entitlement offer shortfall shares, raising approximately A$6.2 million. The Botswana Public Officers Pension Fund (BPOPF) has increased their shareholding to 16.63%, subscribing for 161,290,323 shortfall shares amounting to BWP50m (~A$5.65m). The funds received will be used to advance the Lesedi power project towards first power generation. Application will be made for the quotation of the shortfall shares to trading on ASX, AIM, and BSE. Following quotation of the shortfall shares, the total number of voting rights of the Company's ordinary shares will be 1,254,133,251. The Company remains focused on its strategic goals and is committed to delivering on its projects in Sub-Saharan Africa.