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:
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Tlou Energy
Limited
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+61 7 3040
9084
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Tony Gilby,
Managing Director
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Solomon
Rowland, General Manager
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Grant
Thornton (Nominated Adviser)
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+44 (0)20
7383 5100
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Harrison
Clarke, Colin Aaronson,
Elliot Peters
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Zeus Capital (UK
Broker)
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+44 (0)20
3829 5000
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Simon Johnson
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Investor Relations
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Ashley Seller (Australia)
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+61 418 556
875
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FlowComms Ltd - Sasha Sethi
(UK)
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+44 (0)
7891 677 441
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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.
