Petroleum Africa
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Monday, March 27, 2023
Tlou Energy announced that it has raised A$200,000 (~£110,000, ~BWP1.74 million) pursuant to a placing of 5,714,284 new ordinary shares of no par value at an issue price of A$0.035 (~£0.02, ~BWP0.30) per share (New Shares).
The funds have been raised from Australian based sophisticated investors and will go towards development of Tlou’s Lesedi project in Botswana. The issue price represents approximately a 5.4% discount to the closing ASX share price on March 24 of A$0.037 and a 3.8% discount to the 15-day volume weighted average price for Tlou’s shares traded on the ASX of A$0.0363.
The 5,714,284 New Shares being issued under the Placement will be issued under the Company’s capacity under ASX Listing Rule 7.1. The settlement of the Placement will be completed on Tuesday 28 March 2023. Application will be made for the allotment and quotation of the New Shares to trading on ASX, AIM, and BSE with the quotation of the shares expected to take place on, or around March 30 (Admission). The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Company’s existing issued ordinary shares from issue.
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