KIBO MINING PLC - Results of AGM

Release Date: 30/07/2018 12:00
Code(s): KBO
 
Wrap Text
Results of AGM

Kibo Mining 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”)

30 July 2018

                              Kibo Mining PLC (‘Kibo’ or the ‘Company’)
                                  Results of AGM and Repositioning

Kibo Mining PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to
announce that all resolutions were duly passed at its Annual General Meeting (“AGM”) held today. The AGM
was attended in person and by proxy by shareholders holding approximately 38% of the shares in Kibo
(624,792,973 shares issued and outstanding at the time of the AGM).

Included amongst the passed resolutions (specifically Resolution 8 - see Table below), the Company is
pleased to announce that the change of name to Kibo Energy Public Limited Company (“Kibo Energy PLC”
or “Kibo Energy”) has been approved by shareholders and will become effective upon receipt of confirmation
of name change from the Registrar of Companies (“Receipt”). Trading in the Company’s shares under the
new name is anticipated to take effect from the day following Receipt, with both to be announced in due
course. The Company’s TIDM will remain KIBO.

With three power projects in development in Tanzania, Botswana and Mozambique, the Company believes
that the new name, Kibo Energy completes the Company’s transformation from a resources company to a
full-fledged energy company, positioning itself as a strategic and leading energy provider in sub-Sahara
Africa.

The proxy voting details at the AGM are shown on the table below.

 Resolution              Summary Resolution                     Votes For &           Votes             Votes
                                                                                     Against           Withheld
      #                                                           Discretion
                                                          Number         %       Number     %      Number    %
 1.            To receive, consider and adopt the         234,646,253    98.18   0          0      0         0
               accounts for the year ended 31 December
               2017 together with the Directors and
               Auditors Reports thereon.

 2.            To re-elect Mr. Tinus Maree as a           234,569,126    98.14   77,127     0.03 0           0
               Director.

 3.            To re-elect Mr. Wenzel Kerremans as a      234,646,253    98.18   0          0      0         0
               Director.


 4.            To appoint Crowe Clarke Whitehill LLP as 234,579,227      98.15   67,026     0.03
               auditors of the Company


 5.            To authorise the Directors to fix the      234,646,253    98.18   0          0      0         0
               remuneration of the auditors.
  6.             That the Directors be and are hereby         234,476,746      98.10   169,507   0.07 0         0
                 generally and unconditionally authorised
                 to exercise all powers of the Company to
                 allot relevant securities up to a maximum
                 aggregate nominal value equal to the
                 nominal value of the authorised but
                 unissued ordinary share capital of the
                 Company from time to time.

  7.             That the Directors be and are hereby       234,604,746        98.16   41,507    0.02 0         0
                 empowered pursuant to Section 1023(3) of
                 the Companies Act, 2014 to allot equity
                 Securities for cash pursuant to the
                 authority conferred by resolution number 6
                 above.

 8.            That subject to the approval of the Registrar 234,604,746       98.16 0           0   41,507    0.02
               of Companies, the name of the Company
               shall be changed from “Kibo Mining Public
               Limited Company” to “Kibo Energy Public
               Limited Company”


 9.            That subject to the passing of Resolution 8     234,604,746     98.16 0           0   41,507    0.02
               above the Articles and Memorandum of
               Association of the Company be updated


All the resolutions approved, and they will be registered with the Companies Registration Office
(Ireland).

                                             **ENDS**

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

For further information please visit www.kibomining.com or contact:

 Louis Coetzee            info@kibomining.com                Kibo Mining Plc    Chief Executive Officer
 Andreas Lianos           +27 (0) 83 4408365                 River Group        Corporate and Designated
                                                                                Adviser on JSE

 Ben Tadd /               +44 (0) 20 3700 0093               SVS Securities     Joint Broker
 Tom Curran                                                  Limited

 Jon Belliss              +44 (0) 20 7399 9400               Novum              Joint Broker
                                                             Securities Ltd
 Andrew Thomson           +61 8 9480 2500                    RFC Ambrian        NOMAD on AIM
                                                             Limited
 Isabel de Salis /        +44 (0) 20 7236 1177               St Brides          Investor and Media
 Priit Piip                                                  Partners Ltd       Relations Adviser


Notes to editors
Kibo Mining PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power
deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end,
it is the Company’s objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project
(‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the
Benga Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the
Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships,
procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the
Company will benefit from its robust and experienced international blue-chip partnership network across its
project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering
(Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International
LLP.

Johannesburg
30 July 2018
Corporate and Designated Adviser
River Group

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