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BRIEF-Tlou Energy says will undertake placement of up to £1.5 mln

Published 28/10/2015, 12:02 pm
© Reuters.  BRIEF-Tlou Energy says will undertake placement of up to £1.5 mln
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Oct 27 (Reuters) - Tlou Energy Ltd TOU.AX :

* Aim admission and placement announcement TOU.AX

* Tlou Energy will undertake a placement of up to £1.5 million, with a committed minimum of £1.2 million

* Says issue price for the placement is £0.065 per ordinary share for placement shares issued to UK investors

* Net proceeds are intended to be used for ongoing selemo pilot production testing and field operations

* Says issue price for the placement A$0.14 per ordinary share for placement shares issued to Australian investors

* Placement involves issue of minimum of 18.5 million and up to 23 million new ordinary shares in Tlou to investors in United Kingdom and Australia

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