KIBO ENERGY PLC - Strategic Development Agreement with SEPCOIII

Strategic Development Agreement with SEPCOIII

 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: 03 December 2018


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

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused energy company, announces an update
regarding the Strategic Development Agreement signed with China based SEPCOIII (‘SEPCOIII’) involving equity
investment in the Company by SEPCOIII. Further to the announcement dated 1 October 2018, in which a mutual
decision to extend the deadline for an investment decision was announced, SEPCOIII has now requested a further
extension.


The Board of Kibo intends to consider SEPCOIII’s request at a Board meeting to be held this week and determine the
terms which would be acceptable to the Company for such an extension, taking into consideration the recent strong
interest received by the Company from other entities expressing their desire to participate in the development of Kibo’s
portfolio of energy projects.


                                                  **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
03 December 2018
Corporate and Designated Adviser
River Group

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