KIBO ENERGY PLC - SEPCOIII Strategic Development Agreement

SEPCOIII Strategic Development Agreement

 Kibo Energy PLC (Incorporated in Ireland)
 (Registration Number: 451931)
 (External registration number: 2011/007371/10)
 Share code on the JSE Limited: KBO
 Share code on the AIM: KIBO
 ISIN: IE00B97C0C31
 (“Kibo” or “the Company”)


 Dated: 11 December 2018


                                 Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                                SEPCOIII Strategic Development Agreement


 Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused energy company, announces that
 further to the announcement dated 3 December 2018, the Board of Kibo has elected to extend the deadline for
 the final confirmation of the Strategic Development Agreement (“SDA”) with SEPCOIII (announced 3 July
 2018), for a further 4 months to 30 March 2019. It has been agreed that this is a period of non-exclusivity during
 which Kibo can enter into discussions with alternative interested parties. The Company’s relationship with
 SEPCOIII remains a strong and positive working relationship as is reflected in their continued close co-
 operation to finalize the SDA referred to above and on the development of the Mbeya Coal to Power Project,
 where the parties have amongst others signed a joint development agreement and EPC contract. The Company
 looks forward to updating the market further in this regard in due course.


 The Company also advises that the Kibo Energy research note that was recently prepared and published by First
 Equity will also be available on the Company’s website as of 12pm GMT, 11 December 2018.


                                               **ENDS**


This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").


 For further information please visit www.kibo.energy or contact:


   Louis Coetzee             info@kibo.energy           Kibo Energy PLC             Chief Executive Officer
   Andreas Lianos            +27 (0) 83 4408365         River Group                 Corporate and Designated
                                                                                    Adviser on JSE
   Ben Tadd /                +44 (0) 20 3700 0093       SVS Securities Limited      Joint Broker
   Tom Curran
   Jason Robertson            +44 (0) 20 7374 2212      First Equity Limited        Joint Broker

   Andrew Thomson            +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

   Isabel de Salis /         +44 (0) 20 7236 1177       St Brides Partners Ltd       Investor and Media
   Gaby Jenner                                                                      Relations Adviser

Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power
deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end,
it is the Company’s objective to become a leading independent power producer in the region.


Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project
(‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the Benga
Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the Company
intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement,
equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will
benefit from its robust and experienced international blue-chip partnership network across its project portfolio,
which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon
Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.


Johannesburg
11 December 2018
Corporate and Designated Adviser
River Group

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