KIBO ENERGY PLC - Appointment of NOMAD and Non-Executive Director , Resumption of trading on AIM and Bridge Loan Facility Update

Appointment of NOMAD and Non-Executive Director , Resumption of trading on AIM and Bridge Loan Facility Update

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: 7am, 11 January 2023

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

        Kibo Appoints Beaumont Cornish Limited as Nominated Adviser (NOMAD)
                    and Ajay Saldanha as New Non-Executive Director
       Resumption of trading on AIM and Update on Repayment of Bridge loan facility

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-focused development company,
is pleased to announce the appointment of Beaumont Cornish Limited (‘BCL’) as the Company’s
London Stock Exchange AIM Market (‘AIM’) Nominated Adviser (‘NOMAD’) with immediate
effect. Accordingly, the Company expects trading in the Ordinary Shares on AIM to resume with
effect from 7.30am today.

BCL is an independently owned leading adviser across all London Stock Exchange (‘LSE’) markets.
It is furthermore a Sponsor approved by the Financial Conduct Authority (‘FCA’), a Nominated
Adviser approved by the LSE, a member of the LSE and a member of the Aquis Stock Exchange.

The Company is furthermore pleased to welcome Ajay Saldanha as an independent non-executive
director to its Board of Directors with immediate effect.

Ajay Dominic Saldanha (aged 47) is an experienced banking and investment professional with more
than 20 years of experience in the power, energy and utilities sector. He has dealt extensively with
asset owners, developers and investors in the low-carbon and energy efficiency space. Ajay was
Partner and Head of Energy M&A at KPMG until 2017 and prior to that, at Lehman Brothers (&
Nomura) since 2001. During his investment banking and advisory tenure, Ajay has led acquisitions
and financing of more than $60bn, related to assets in the UK, Europe, Asia and sub-Saharan Africa.
Ajay is also a qualified chemical plant engineer from the University of Mumbai and obtained his
MBA from the Indian Institute of Management, Ahmedabad.

Other than as disclosed above, there are no further disclosures to be made in accordance with AIM
Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

With regard to the bridge loan facility (the “Facility”) announced to the market in RNS dated 16
February 2022, the Company has subsequently agreed with the Institutional Investor to extend the
repayment date of said Facility to the 28 April 2023. As part of this agreement, the Company has
provided the Institutional Investor with the right to trade shares held by it in Mast Energy
Developments Plc up to the value of £250,000, the proceeds of which would be set off against the
total amount owed under the Facility, being approximately £1.1m. The Company is in discussions as
to the ongoing arrangements beyond that date and will update the Market accordingly in due course,
as it will regarding the approximate £660,000 Convertible Instrument due to present and past
Directors and management due for repayment on 28 February 2023 along with general funding
discussions ongoing to meet its near and medium term funding needs.
Furthermore, the Company will provide a general strategy update, including expected timing for the
potential USE spinout as announced on 29 September 2022, shortly.

This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014.

                                            **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 (0) 207 628 3396              Beaumont Cornish      Nominated Adviser
  Roland Cornish                                       Limited

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

  Damon Heath        +44 207 186 9952                  Shard Capital         Joint Broker
                                                       Partners LLP

  Zainab Slemang zainab@lifacommunications.com         Lifa Communications   Investor and Media
  van Rijmenant                                                              Relations Consultant
                                 


Johannesburg
11 January 2023
Designated Adviser
River Group

Date: 11-01-2023 09:00:00
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