KIBO ENERGY PLC - Warrant Exercise

Warrant Exercise

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: 19 February 2021

                                                  Warrant Exercise

       Kibo Energy PLC (‘Kibo’ or the ‘Company’), the multi-asset, Africa & UK focused, energy
       company is pleased to announce that certain warrant holders have exercised 31,500,000
       Company warrants to subscribe for 31,500,000 new Kibo shares (the “Warrant Shares”,) under
       the terms of warrants awarded to subscribers announced on the 17 September 2020. 7,500,000
       warrants were exercised at a price of GBP 0.004 (0.4p) per warrant and 24,000,000 warrants
       exercised at a price of GBP 0.0025 (0.25p) per warrant. The gross proceeds to the Company
       were £90,000 following exercise of the warrants.


       Total Voting Rights

       Application will be made for the Warrant Shares to be admitted to trading on AIM and the JSE
       AltX markets. Trading in the Warrant Shares is expected to commence on AIM and the JSE on
       or around 25 February 2021 ('Admission'). Following Admission, the Company will have
       2,263,140,835 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.


                                                  **ENDS**

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

       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             Broker

Bhavesh Patel /  +44 20 3440 6800          RFC Ambrian Ltd          NOMAD on AIM
Stephen Allen

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

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.

Johannesburg
19 February 2021
Corporate and Designated Adviser
River Group

Date: 19-02-2021 01:50:00
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