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: 16 March 2021

                                            Warrant Exercise


 Kibo Energy PLC (‘Kibo’ or the ‘Company’), the multi-asset, Africa & UK focused, energy
 company is pleased to announce that a warrant holder has exercised 11,250,000 Company
 warrants to subscribe for 11,250,000 new Kibo shares (the “Warrant Shares”,) under the terms
 of warrants awarded to subscribers as part of a Company placing announced on the 17
 September 2020. The warrants were exercisable at a price of GBP 0.004 (0.4p) per warrant. The
 gross proceeds to the Company were £45,000 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 22 March 2021 ('Admission'). Following Admission, the Company will have
 2,348,960,391 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
16 March 2021
Corporate and Designated Adviser
River Group

Date: 16-03-2021 03:35:00
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