Wrap Text
Issue of Facility Arrangement Fee and Conversion Shares
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: 24 August 2020
Kibo Energy PLC (‘Kibo’ or the ‘Company’)
Issue of Facility Arrangement Fee and Conversion Shares
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company
announces that following shareholder approval for the increase in the Company’s authorised share
capital at its EGM today, it has issued 25,925,925 shares (the “Arrangement Fee Shares”) in settlement
of the Arrangement Fee of £70,000 as per the terms of the funding facility for up to £1 million
announced on the 25 June 2020 (the “Facility”). The shares were issued at a price of £0.0027 being the
5-day Volume Weighted Average Price (“VWAP”) on AIM on the 24 August 2020.
The Company has also issued an additional 43,750,000 shares (the “Conversion Shares”) to certain
lenders who have elected to convert funds advanced as part of the first tranche of funding of £300,000
(“Facility Drawdown”) in respect of the Facility which Kibo announced it had drawn down on (see
RNS of 5 August 2020). The Conversion Shares were issued at a price of £0.0024 each being the 5-day
VWAP less 10% at 24 August 2020 representing re-payment by the Company of £105,000 of the
£300,000 first tranche Facility Drawdown.
The Arrangement Fee Shares and the Conversion Shares (the “Issued Shares”) represent an aggregate
issue of 69,675,925 new Ordinary Kibo shares of €0.001 each.
Total Voting Rights
Application will be made for the Issued Shares to be admitted to trading on AIM and the JSE AltX
markets. Trading in the Issued Shares is expected to commence on AIM and the JSE on or around 01
September 2020 ('Admission'). Following Admission, the Company will have 1,392,802,477 shares in
issue. The foregoing figure may be used by shareholders as the denominator for the calculations to
determine if they are required to notify their interest in, or a change to their interest in, the Company
under the FCA's Disclosure Guidance and Transparency Rules.
This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").
**ENDS**
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
Philip Adler +44 (0) 20 7392 1494 ETX Capital Limited Joint Broker
Bhavesh Patel /
Stephen Allen +44 20 3440 6800 RFC Ambrian Limited NOMAD on AIM
Isabel de Salis /
Beth Melluish +44 (0) 20 7236 1177 St Brides Partners Investor and Media
Ltd Relations Adviser
Notes
Kibo Energy PLC is a multi-asset, Africa focused, 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 has a 60% interest in MAST Energy Developments Limited ('MED'), a
private UK registered company targeting the development and operation of flexible power plants to
service the UK Reserve Power generation market.
Johannesburg
24 August 2020
Corporate and Designated Adviser
River Group
Date: 24-08-2020 04:00:00
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