KIBO ENERGY PLC - Completed Acquisition of 60% Interest in UK Power Project Development Company

Completed Acquisition of 60% Interest in UK Power Project Development Company

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: 09 October 2018


                                 Kibo Energy PLC (‘Kibo’ or the ‘Company’)
          Completed Acquisition of 60% Interest in UK Power Project Development Company


Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, is pleased to
announce that, further to the RNS dated 15 August 2018, it has completed the acquisition (“the Acquisition”)
of a 60% equity interest in Mast Energy Developments (“MED”), a private UK registered company targeting
the development and operation of flexible power plants to service the Reserve Power generation market.


MED’s business strategy is to acquire and develop a portfolio of small-scale power generation assets. Various
“shovel ready” sites have already been identified in the UK, capable of sustaining gas fired power generators
and ancillary structures from 20MW upwards. They have full planning permission and permitting in place, long
term lease agreements, grid & gas connection offers and positive feasibility studies, pertaining to technical and
commercial viability. The full summary terms of the Acquisition are described in the RNS announcement dated
15 August 2018.


As part of the Acquisition consideration, the Company will issue 5,714,286 new ordinary shares at a deemed
price of 5.25 pence each in the Company (“Consideration Shares”) to the existing MED shareholders (‘the
Sellers’). The Application has been made for the Consideration Shares, which will rank pari passu with the
existing ordinary shares in the Company, to be admitted to trading on the AIM market of the London Stock
Exchange (“Admission”). It is expected that Admission will occur at 8:00 am on or around 19 October 2018.


Following Admission, the Company will have 640,031,069 Ordinary Shares in issue, of which none are held in
Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 640,031,069
This figure may be used by shareholders in the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change in their interest in, the share capital of
the Company under the FCA’s Disclosure and Transparency Rules.

Louis Coetzee, CEO of Kibo Energy, said: “This acquisition provides Kibo with the realistic possibility of near-
term revenue generating assets and enables us to combine our knowledge of the power generation market both
in mature and emerging markets. There is a distinct short-term revenue generating potential in the UK, which
is positive for Kibo and importantly all early stage royalties payable to the sellers will be reinvested in Kibo
ordinary equity.”
                                               **ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").


 For further information please visit www.kibo.energy or contact:



  Louis Coetzee             info@kibo.energy.com       Kibo Energy 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 Limited      Joint Broker
  Tom Curran
  Jon Belliss               +44 (0) 20 7399 9400       Novum Securities Ltd        Joint Broker

  Andrew Thomson            +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

  Isabel de Salis / Gaby    +44 (0) 20 7236 1177       St Brides Partners Ltd      Investor and Media
  Jenner                                                                           Relations Adviser


 Notes to editors
 Kibo Energy 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
09 October 2018
 Corporate and Designated Adviser
 River Group

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