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Results of AGM and Reduction in Par Value of Ordinary 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”)
24 September 2019
Kibo Energy PLC (‘Kibo’ or the ‘Company’)
Results of AGM and Reduction in Par Value of Ordinary Shares
Kibo Energy PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is
pleased to announce that all resolutions were duly passed at its Annual General Meeting (“AGM”)
held today. The AGM was attended in person and by proxy by shareholders holding
approximately 27% of the shares in Kibo (805,053,798 shares issued and outstanding).
Following the passing of Resolutions 7 - 12 (see Table below), the nominal value of the Company’s
ordinary shares in issue has been reduced from €0.015 per share to €0.001 per share. Trading in the
newly denominated shares will take effect from opening of markets on the 25 September 2019 with
no change in the ISIN or SEDOL numbers. Replacement share certificates showing the new nominal
value of the shares will be posted to those shareholders already holding Kibo shares in certificated
form by no later than the 8 October 2019. South African shareholders who hold Kibo shares in
certificated form and whose share are listed on the JSE should complete the Form of Surrender and
Transfer that they have received with the Company’s Notice of Annual General Meeting and return it
with their existing share certificates and/or other documents of title to the Company’s South African
Registrar, Link Market Services (Proprietary) South Africa in order to receive replacement share
certificates/other documents of title.
Page 1 of 3
The proxy voting details at the AGM are shown on the table below:-
Resolu- Summary Resolution Votes For & Votes Votes
tion # Discretion Against Withheld
Number % Number % Number %
1. To receive, consider and adopt the
accounts for the year ended 31 December
119,338,913 99.71 347,519 0.29 0 0.00
2018 and the Directors and Auditors
Reports thereon.
2. To authorise the Directors to fix the
remuneration of the auditors. 119,338,913 99.71 347,519 0.29 0 0.00
3. To re-elect Mr Christian Schaffalitzky as
119,338,913 99.71 347,519 0.29 0 0.00
a Director.
4. To re-elect Mr Noel O’Keeffe as a
119,338,913 99.71 347,519 0.29 0 0.00
Director.
5. That the Directors be and are hereby
generally and unconditionally authorised
119,238,913 99.63 447,519 0.37 0 0.00
to exercise all powers of the Company to
allot relevant securities.
6. That the Directors be and are hereby
empowered pursuant to Section 1023(3)
of the Companies Act, 2014 to allot 119,238,913 99.63 447,519 0.37 0 0.00
equity securities.
7. To subdivide the share capital of the
Company 119,238,913 99.63 447,519 0.37 0 0.00
8. To amend the share capital clause of the
Memorandum of Association 119,238,913 99.63 447,519 0.37 0 0.00
9. To amend the share capital clause of the
Articles of Association 119,238,913 99.63 447,519 0.37 0 0.00
10. To increase the authorised share capital of
the Company 119,238,913 99.63 447,519 0.37 0 0.00
11. To amend the share capital clause of the
Memorandum of Association 119,238,913 99.63 447,519 0.37 0 0.00
12. To amend the share capital clause of the
Articles of Association 119,238,913 99.63 447,519 0.37 0 0.00
All the resolutions were approved, and they will be registered with the Companies Registration Office
(Ireland).
**ENDS**
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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
Jason Robertson +44 (0) 20 7374 2212 First Equity Ltd
Broker
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited
NOMAD on AIM
Isabel de Salis/Beth Melluish +44 (0)20 7236 1177 St Brides Partners Ltd
Investor & Media 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 Reserve Power generation market.
Johannesburg
24 September 2019
Corporate and Designated Adviser
River Group
Page 3 of 3
Date: 25/09/2019 07:15:00
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