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Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 24 January 2024
Kibo Energy PLC ('Kibo' or the 'Company')
Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company,
announces a TR-1 Notification by its subsidiary Mast Energy Developments PLC ('MED'), a UK-
based multi-asset owner, developer and operator in the rapidly growing flexible power market.
The proceeds from the disposal of the MED shares amounting to approximately £119,444 have been
used for Kibo's ongoing working capital requirements and to reduce the outstanding balance on the
Company's reprofiled bridge loan facility with RiverFort Global Opportunities PCC Ltd in order to
meet the monthly payments to reduce potential equity dilution arising from the elected missed
payment rights (refer Kibo RNS announcements of 11 and 26 April 2023).
Further details can be found in the full MED announcement, which is available below and at
med.energy:
–––––––––––––––––––––––––
Dated: 24 January 2024
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in
Microsoft Word format if possible)
1a. Identity of the issuer or the underlying issuer of
Mast Energy Developments PLC
existing shares to which voting rights are attached:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name Kibo Mining (Cyprus) Limited
City and country of registered office (if applicable) Limassol Cyprus
4. Full name of shareholder(s) (if different from 3.)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached: 23/01/24
6. Date on which issuer notified (DD/MM/YYYY): 23/01/24
7. Total positions of person(s) subject to the notification obligation
% of voting
% of voting rights
rights Total number of
through financial Total of both in
attached to voting rights held in
instruments (total of % (8.A + 8.B)
shares (total issuer (8.A + 8.B)
8.B 1 + 8.B 2)
of 8. A)
Resulting
situation on the
date on which
39.65% 39.65% 104,611,746
threshold was
crossed or
reached
Position of
previous
47.08% 47.08%
notification (if
applicable)
8. Notified details of the resulting situation on the date on which the threshold was crossed or
reached
A: Voting rights attached to shares
Class/type of Number of voting rights % of voting rights
shares Direct Indirect Direct Indirect
ISIN code (if (DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
possible)
GB00BMBSCV12 104,611,746 39.65%
SUBTOTAL 8. A 104,611,746
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Number of voting
rights that may be
Type of financial Expiration Exercise/ % of voting
acquired if the
instrument date Conversion Period rights
instrument is
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Exercise/ Number
Type of financial Expiration Physical or cash % of voting
Conversion of voting
instrument date Settlement rights
Period rights
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer
Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling X
natural person or legal entity (please add additional rows as necessary)
% of voting % of voting rights
rights if it through financial
Total of both if it equals or is
equals or is instruments if it
Name higher than the notifiable
higher than equals or is higher
threshold
the notifiable than the notifiable
threshold threshold
Kibo Energy PLC
Kibo Mining
39.65% 39.65%
(Cyprus) Limited
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information
Place of completion Limassol, Cyprus
Date of completion 23/01/24
For further information please visit www.med.energy or contact:
Pieter Krügel Info@med.energy Mast Energy Developments PLC CEO
Jon Belliss +44 (0)20 7399 9425 Novum Securities Corporate Broker
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor & Media
van Rijmenant Relations Advisor
**ENDS**
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
James Biddle +44 207 628 3396 Beaumont Cornish Limited Nominated Adviser
Roland Cornish
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
Damon Heath +44 207 186 9952 Shard Capital Partners LLP Joint Broker
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media Relations
van Rijmenant Consultant
Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is
authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's
Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities
under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the
London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other
persons for providing protections afforded to customers of Beaumont Cornish nor for advising them
in relation to the proposed arrangements described in this announcement or any matter referred to
in it.
Johannesburg
24 January 2024
Corporate and Designated Adviser
River Group
Date: 24-01-2024 05:45:00
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