KIBO ENERGY PLC - Kibo Signs Corporate Finance Engagement Letter with Wimmer Financial LLP for Project Financing

Kibo Signs Corporate Finance Engagement Letter with Wimmer Financial LLP for Project Financing

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 April 2019
                            Kibo Energy PLC (‘Kibo’ or the ‘Company’)
               Kibo Signs Corporate Finance Engagement Letter with Wimmer Financial
                            LLP for Project Financing of its African Energy Projects

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, is pleased to
announce that it has signed a Corporate Finance Engagement Letter (the “Engagement Letter”) with Wimmer
Financial LLP (“Wimmer”).


The Engagement Letter with Wimmer governs the appointment of Wimmer to advise Kibo on and manage all
aspects related to the structuring and provision of a project finance corporate credit line facility of up to USD
900 million which could form part of a broader funding package for the construction and commissioning of
Kibo’s African energy projects as they approach a final investment decision. Under the terms of the
Engagement Letter Wimmer will assume the position of exclusive Sole Global Debt Corporate Finance
Adviser, excluding the Company’s Tanzania project on which Wimmer will not enjoy any exclusivity.


Background on Wimmer Financial

Wimmer Financial is part of the Wimmer Group and is a global boutique investment bank with a focus within
mining, oil & gas, alternative energy, real estate, infrastructure, aviation, shipping, aerospace, industrials, and
other sectors. The current main focus is global project and acquisition financing for larger transactions typically
from $ 50 million and larger.


The Wimmer Group also includes Wimmer Family Office which conducts the family office principal
investments into companies and external funds as well as Wimmer Horizon which invests into systematic and
quantitative investment strategies.

Louis Coetzee, CEO of Kibo, said: “Kibo is very pleased to have signed a formal Engagement Letter with
an outstanding financial services provider like Wimmer. This formal engagement with Wimmer follows
several months of discussion and negotiation and we are looking forward to working with Wimmer on
securing the Company’s debt requirements for its African energy projects.”


                                             **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
 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

 Per Wimmer                 (+44) 207 432 7500       Wimmer Financial            Sole Global Project Debt
                                                                                 Corporate Finance Advisor


Notes to editors
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 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; and Hogan Lovells International LLP.


 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 Reserve
 Power generation market.

Johannesburg
17 April 2019
Corporate and Designated Adviser
River Group

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