KIBO ENERGY PLC - Issue of Shares in lieu of payment to Service Providers and Contractors

Issue of Shares in lieu of payment to Service Providers and Contractors

 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: 17 June 2019

                                   Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                       Issue of Shares in lieu of payment to Service Providers & Contractors

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company announces the
issue of 10,518,741 Ordinary Shares of €0.015 in the capital of the Company in payment of various service
invoices to certain providers of professional and technical consulting services (“Contractor Shares”). Details of
theContractor Shares are outlined below.

  Table 1: Issue of Contractor Shares

            Description                                     Payment       Issue Price     No. of new
                                                             Value         per Share      Kibo Shares
                                                             (GBP)          (GBP)           issued
            Service Provider and Contractor fees            142,003.01           0.0135    10,518,741

Total Voting Rights
Application will be made for the Contractor Shares (the “Shares”) to be admitted to trading on AIM and the JSE
AltX markets. Trading in the Shares is expected to commence on AIM and the JSE on or around 24 June 2019
('Admission'). Following Admission, the Company will have 776,986,592 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 ("MAR").

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
   Ben Tadd /                  +44 (0) 20 3700 0093     SVS Securities Limited      Joint Broker
   Tom Curran
   Jason Robertson             +44 (0) 20 7374 2212     First Equity Limited        Joint Broker

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

   Isabel de Salis /           +44 (0) 20 7236 1177     St Brides Partners Ltd      Investor and Media
   Gaby Jenner                                                                      Relations Adviser
Notes to editors
Kibo Energy PLC is a multi-asset energy company focused on progressing a diverse portfolio of advanced
power generation and mining projects in Sub-Saharan Africa and the UK, utilising established international
relationships with key development partners. It is simultaneously developing three coal-fuelled power projects
in Africa: the Benga Independent Power Project in Mozambique; the Mabesekwa Coal Independent Power
Project in Botswana; and the Mbeya Coal to Power Project in Tanzania. Additionally, the Company has a 60%
interest in MAST Energy Developments Limited, a private UK registered company targeting the development
and operation of flexible power plants to service the Reserve Power generation market.

Johannesburg
17 June 2019
Corporate and Designated Adviser
River Group

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