KIBO ENERGY PLC - Kibo Subsidiary Issue of Shares

Kibo Subsidiary Issue of Shares

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: 23 May 2023

                           Kibo Energy PLC ('Kibo' or the 'Company')
                                 Kibo Subsidiary Issue of Shares

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company,
announces today that its subsidiary Mast Energy Developments (‘MED’), a UK-based multi-asset
operator in the rapidly growing flexible power market, has allotted 3,088,024 new MED shares of
£0.001 each (‘the ‘Conversion Shares’), following receipt of a conversion notice from the institutional
lender group under the terms of the recent reprofiling agreement (the ‘Reprofiling Agreement’) on
the balance of MED’s outstanding loan facilities as announced in an MED RNS dated 18 May 2023.

Application for the Conversion Shares will be admitted to the Standard List of the Official List and
for trading on the main market of the London Stock Exchange PLC (‘LSE’). The expected admission
will become effective and dealings in the fee shares will commence at 08h00 on or around 30 May
2023.

The full announcement can be viewed at med.energy. The full text of the MED RNS follows:

______________________________________________________________________________

Dated: 23 May 2023

Mast Energy Developments PLC (‘MED’ or ‘the Company’)

Shares issue

Mast Energy Developments PLC, the UK-based multi-asset owner, developer, and operator in the
rapidly growing flexible power market has today allotted 3,088,024 new MED shares of £0.001 each
(the “Conversion Shares”) following receipt of a conversion notice from the institutional lender group
under the terms of the recent reprofiling agreement (the “Reprofiling Agreement”) on the balance of
its outstanding loan facilities announced on its RNS of 18 May 2023.

The shares are being issued in respect of £22,408.86 in principal payment at an exercise price of
£0.0072567 per Conversion Share in accordance with the terms of the Reprofiling Agreement.

Application will be made for the Conversion Shares to be admitted to the Standard List segment of
the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).
It is expected that Admission will become effective and dealings in the Fee Shares will commence at
8.00am on, or around, 30 May 2023.

Following Admission, the total issued share capital of the Company will consist of 232,207,643
ordinary shares in issue and this 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.

                                                  ENDS

This announcement contains inside information for the purposes of the UK version of the Market
Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the publication of this announcement,
this inside information is now considered to be in the public domain.

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

____________________________________________________________________________

This announcement contains inside information for the purposes of the UK version of the Market
Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the publication of this announcement,
this inside information is now considered to be in the public domain.

                                              **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 Cormish
 
 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
 van Rijmenant                                                                 Relations Consultant

Johannesburg
23 May 2023
Corporate and Designated Adviser
River Group

Date: 23-05-2023 03:30:00
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