KIBO ENERGY PLC - Settlement Shares Sale

Settlement Shares Sale

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: 15 December 2022

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

                                        Settlement Shares Sale

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company
announces that further to its RNS announcement of 29 July 2022 on receipt of 28,735,632 shares (the
“Settlement Shares”) from Mast Energy Development PLC, in lieu of cash for partial settlement of
£1m of the total remaining outstanding amount owing to Kibo's wholly owned subsidiary, Kibo
Mining (Cyprus) Limited, the Company has decided to realize a portion of said share payment in
cash. To this effect the Company has now realized in cash net proceeds of £239,513.76 through the
sale of 7,417,270 of said Settlement Shares.

Kibo’s current shareholding in MED following this share sale is 57.86% and the Company has today
informed MED of this updated shareholding by issuing it a TR-1 notification.

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


Andreas Lianos   +357 99 53 1107                  River Group                JSE Corporate and Designated Adviser

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

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

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


Johannesburg
15 December 2022
Corporate and Designated Adviser
River Group

Date: 15-12-2022 04:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.