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RNS Number : 4883Y Tlou Energy Ltd 31 July 2024
31 July 2024
Tlou Energy Limited
("Tlou" or "the Company")
Mezzanine Debt Facility term sheet
The Company is pleased to announce it has signed an indicative term sheet for
a proposed mezzanine debt facility with a Botswana based investment management
firm.
The key terms of the proposed facility are as follows:
Ø Principal amount: BWP 76.5m (~A$8.5m, ~£4.4m)
Ø Tenor: 5 Years with a
bullet principal repayment at the end of the term
Ø Coupon: 15% nominal annual
compounded monthly
Ø Coupon Roll-up: Tlou may capitalise interest
payments for the first 24 months
The funds will go towards development of the Company's Lesedi power project
including acquisition of generators, operations equipment as well as
completion of the Lesedi substation and associated infrastructure.
The indicative term sheet does not discuss all the terms and conditions of the
proposed facility and final agreement is subject to legal counsel review,
satisfactory due diligence, final documentation, investment committee approval
and fulfilment of certain pre-conditions. This process will begin immediately.
The term sheet is non-binding, except for exclusivity, confidentiality, fees,
costs and expenses, applicable law and jurisdiction clauses.
The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.
By Authority of the Board of Directors
Mr. Anthony Gilby
Managing Director
****
For further information regarding this announcement please contact:
Tlou Energy Limited +61 7 3040 9084
Tony Gilby, Managing Director
Solomon Rowland, General Manager
Grant Thornton (Nominated Adviser) +44 (0)20 7383 5100
Harrison Clarke, Colin Aaronson, Elliot Peters
Zeus Capital (UK Broker) +44 (0)20 3829 5000
Simon Johnson
Investor Relations
Ashley Seller (Australia) +61 418 556 875
FlowComms Ltd - Sasha Sethi (UK) +44 (0) 7891 677 441
About Tlou
Tlou is developing energy solutions in Sub-Saharan Africa through gas-fired
power and ancillary projects. The Company is listed on the ASX (Australia),
AIM (UK) and the BSE (Botswana). The Lesedi Gas-to-Power Project ("Lesedi") is
100% owned and is the Company's most advanced project. Tlou's competitive
advantages include the ability to drill cost effectively for gas, operational
experience and Lesedi's strategic location in relation to energy customers.
All major government approvals have been achieved.
Forward-Looking Statements
This announcement may contain certain forward-looking statements. Actual
results may differ materially from those projected or implied in any
forward-looking statements. Such forward-looking information involves risks
and uncertainties that could significantly affect expected results. No
representation is made that any of those statements or forecasts will come to
pass or that any forecast results will be achieved. You are cautioned not to
place any reliance on such statements or forecasts. Those forward-looking and
other statements speak only as at the date of this announcement. Save as
required by any applicable law or regulation, Tlou Energy Limited undertakes
no obligation to update any forward-looking statements.
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