KIBO ENERGY PLC - Kibo Consents to the Migration of its Ordinary Shares to the Euroclear Bank Central Securities Depository

Kibo Consents to the Migration of its Ordinary Shares
to the Euroclear Bank Central Securities Depository

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: 09 March 2021

                    Kibo Consents to the Migration of its Ordinary Shares
                     to the Euroclear Bank Central Securities Depository

                                                  and

        Migration of Participating Securities Expected to Take Effect on 15 March 2021



Kibo Energy PLC (the “Company”) provides the following update in relation to the migration of
Irish corporate securities from CREST to Euroclear Bank (“Migration”) under the Migration of
Participating Securities Act 2019 (“2019 Act”).

All resolutions necessary to facilitate participation of the Company's ordinary shares in Migration
were approved at the extraordinary general meeting of the Company held on 22 February 2021
(“EGM”).

In accordance with Resolution 1 approved at the EGM, the board of directors of the Company
has approved the Company giving its consent to the migration of its ordinary shares to the Euro-
clear Bank SA/NV central securities depository in accordance with the Migration of Participating
Securities Act 2019. The requisite notifications in connection with the migration have also been
made by the Company to the Irish Companies Registration Office and Euronext Dublin. The
Company has now completed all necessary actions required of it under the 2019 Act and the
Migration Guide.

Euronext Dublin has published a statement on the dedicated web page relating to its obligations
under the 2019 Act. This statement can be found at the following link:

https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank

This statement is to the effect that Migration under the 2019 Act is scheduled to proceed in
accordance with the indicative timetable which was previously communicated to the market,
most recently on 17 February 2021. In particular Euronext Dublin has advised that the Live Date
on which Migration is to take effect is 15 March 2021 and further that this date will be formally
appointed by Euronext Dublin as the Live Date for Migration on the evening of Friday, 12 March
2021.

Accordingly, no change is anticipated in relation to the timetable set out in the Company's EGM
Circular in respect of Migration.
The Company does not intend to issue any further updates on Migration as it affects the Com-
pany before Migration, save to the extent that there is a material change to the information pre-
viously provided.

Defined terms used in this announcement have the same meaning as set out in the Company's
Circular to Shareholders dated 29 January 2021.

                                                  Ends

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                 JSE Corporate and Designated Adviser

Claire Noyce     +44 (0) 20 3764 2341 Hybridan LLP                 Broker

Bhavesh Patel /
                +44 20 3440 6800       RFC Ambrian Limited         NOMAD on AIM
Stephen Allen

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


Notes

Kibo Energy PLC is a multi-asset, Africa and UK focused, 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 paral-
lel, 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.

Johannesburg
09 March 2021
Corporate and Designated Adviser
River Group

Date: 09-03-2021 12:15:00
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