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TRIANGLE ENERGY (GLOBAL) LIMITED — Capital/Financing Update 2012
Feb 13, 2012
65907_rns_2012-02-13_033f90d1-1b92-4f98-890e-e1869273e1ad.pdf
Capital/Financing Update
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ASX CODE: TEG
CHAIRMAN’S ADDRESS
14 February 2012: Triangle Energy (Global) Limited’s Executive Chairman John Towner will today address shareholders at a General Meeting to be held in Perth, commencing at 2pm.
Attached is a copy of the Chairman’s Address. Copies will also be available on the Company’s website.
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Unit7 589 Stirling Highway Cottesloe WA 6011 Australia
Telephone 08 9286 8300 Facsimile 08 9385 5184 [email protected] www.triangleenergy.com.au
About Triangle Energy:
Triangle Energy is a gas production and exploration company based in Perth. Its wholly-owned subsidiary, TPI, is based in Jakarta and is the 100% holder and operator of the Pase PSC which covers an area of 922km[2] in Aceh Province, North Sumatra, Indonesia.
For Further information, please contact:
Triangle Energy (Global) Limited Unit 7, 589 Stirling Highway COTTESLOE WA 6011
Telephone: +61 8 9286 8300 Fax: +61 8 9385 5184 Email: [email protected] Web: www.triangleenergy.com.au
John Towner – Executive Chairman
CHAIRMAN’S ADDRESS
GENERAL MEETING OF TRIANGLE ENERGY (GLOBAL) LIMITED Tuesday 14 February 2012 - Perth
Welcome to this general meeting of Triangle Energy (Global) Limited.
The purpose of this meeting is to approve resolutions in regards to capital raising conducted last year and in particular to approve certain conditions precedent of the convertible notes subscription agreement signed with Standard Chartered Private Equity in December 2011.
Standard Chartered Private Equity is the private equity arm of Standard Chartered Bank’s Principal Finance division. SCB’s Principal Finance division has a strong track record over ten years of creating value through taking minority equity positions in support of growing companies across the Standard Chartered footprint.
Standard Chartered Private Equity was attracted to Triangle Energy because of its proven track record with the Pase PSC in Aceh Province, North Sumatra, Indonesia.
Standard Chartered Private Equity’s investment is a very significant milestone for Triangle Energy as it prepares for the development of gas production opportunities in North Sumatra.
I am conscious that there is significant interest in the status of the renewal application for the Pase PSC. I am unable to comment on this matter other than to say that we are making progress and will release an update as soon as we are able.
We will now turn to the resolutions before this meeting.