Wrap Text
Warrant Exercise
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 March 2021
Warrant Exercise
Kibo Energy PLC (‘Kibo’ or the ‘Company’), the multi-asset, Africa & UK focused, energy
company is pleased to announce that certain warrant holders have exercised 74,569,556
Company warrants to subscribe for 74,569,556 new Kibo shares (the “Warrant Shares”) under
the terms of warrants announced on the 17 September 2020. The warrants were exercisable at a
price of GBP 0.004 (0.4p) per warrant. The gross proceeds to the Company were £298,278
following exercise of the warrants.
Total Voting Rights
Application will be made for the Warrant Shares to be admitted to trading on AIM and the JSE
AltX markets. Trading in the Warrant Shares is expected to commence on AIM and the JSE on
or around 9 March 2021 ('Admission'). Following Admission, the Company will have
2,337,710,391 shares in issue. The foregoing figure may be used by shareholders as the
denominator for the calculations to determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Louis Coetzee, CEO of KIBO said: “We are very pleased with the strong confidence that a
number of our shareholders, most notably some of the Company’s biggest shareholders, have
shown in Kibo by way of the recent warrant exercises. Most of these were done at a premium
to market and has significantly bolstered the Company’s cash position with an additional
GBP408,300.00, allowing the Company to allocate even more resources towards accelerating
development of the Company’s project portfolio”.
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse
Regulations (EU) no. 596/2014.
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
Andreas Lianos +357 99 53 1107 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 Ltd 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 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 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.
Johannesburg
03 March 2021
Corporate and Designated Adviser
River Group
Date: 03-03-2021 01:32:00
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