Tlou Energy fined over infringement’’

Tlou Ene rg y, the Coa l Bed Methane( CBM) company has agreed to pay $ 53,280 ( P712 000) to Australian Securities and Investments Commission ( ASIC) but still denies infringement of certain statements it made on Australian Securities Exchange ( ASX) last year.

ASIC conducted investigation into certain statements made by Tlou Energy in ASX announcements and other documents, including the Company’s ASX announcement on 16 February 2021 titled ‘ Carbon Neutrality’ and 20 October 2021 titled ‘ Clean Energy for Botswana and Beyond’. In a statement published by the company on Botswana Stock Exchange, Tlou Energy stated that it does not accept that it contravened any provision of the Corporations Act 2001 ( Cth) or the Australian Securities and Investments Commission Act 2001 ( Cth) but agreed to pay the infringement notice to bring this matter to an end and focus the Company’s resources on development of its power projects. “ASIC has advised Tlou that it will not be taking any further enforcement action arising from its investigation.”