KIBO ENERGY PLC - Kibo Subsidiary Announces Business Update

Kibo Subsidiary Announces Business Update

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: 21 May 2024

                          Kibo Energy PLC ('Kibo' or the 'Company')

                          Kibo Subsidiary Announces Business Update

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company,
announces a business update by its subsidiary Mast Energy Developments PLC ('MED'), a UK-based
multi-asset owner, developer and operator in the rapidly growing flexible power market.

Further details can be found in the full MED RNS Announcement, which is available below and at
med.energy.

                                   –––––––––––––––––––––––––
Dated: 23 May 2024

                  Mast Energy Developments PLC ('MED' or 'the Company')

                                  Capitalisation of Loan Update

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and operator in the
rapidly growing flexible power market, is pleased to announce that further to its RNS announcement
of 7 May 2024, the 162,500,000 new MED ordinary shares of 0.1p (the "Subscription Shares") at a
conversion price of 0.20p per share will be allotted to Mr. Pieter Krügel, a director of the Company
(the "Conversion") tomorrow, 24 May 2024 and admitted to listing on the London Stock Exchange
for which approval has been granted (the "Admission").

Total Voting Rights

Following allotment of the Subscription Shares and Admission, the Company will have 426,354,067
ordinary shares of £0.001 par value in issue, each with one vote per share (and none of which are held
in treasury). The total number of voting rights in the Company is therefore 426,354,067. This figure
may be used by shareholders in the Company as the denominator for calculations to determine if they
have a notifiable interest in the share capital of the Company under the Disclosure Guidance and
Transparency Rules, or if such interest has changed. For further information, please visit
www.med.energy.

                                               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


                                   _________________________

                                                **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

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
23 May 2024
Corporate and Designated Adviser
River Group

Date: 23-05-2024 04:55:00
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