TIDMKIBO
RNS Number : 9050W
Kibo Energy PLC
15 December 2023
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')
Dated: 15 December 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Kibo Energy Subsidiary Announces Director Loan & PMDR Share
Sale
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable
energy-focused development company, today announces that its
subsidiary Mast Energy Developments PLC ('MED'), a UK-based
multi-asset owner, developer and operator in the rapidly growly
flexible power market has received a director loan amounting to
GBP81,329 (the 'Director Loan') from Paulus Fillippus Venter, a
non-executive director and significant shareholder of MED. The
proceeds from the Director Loan will be used for MED's working
capital requirements and is a result of Mr. Venter selling
14,000,000 MED shares (the 'Loan Shares') of his total beneficial
holdings of 17,708,538 MED shares.
The key terms of the Director Loan include no fixed-term
repayment, an interest accrual rate of 7% per annum on the
principal amount of the Director Loan outstanding, and the issuance
in repayment of the same number of Loan Shares (as Mr. Venter as
lost equity number, not equity value, by the Director Loan),
subject to the Company complying with its statutory obligations and
shareholder authorities (incl. headroom).
As Mr. Venter is a Person Discharging Managerial Responsibility
('PDMR') under MED's Share Dealing Policy Code, he has obtained
consent from MED for the sale of the Loan Shares, completed on 13
December 2023 and has notified the Financial Conduct Authority
('FCA') in the prescribed manner, the details of which can be
viewed on the Dealing Notification Form in the MED announcement
below.
The Director Loan is a related party transaction under DTR
7.3.3R and MED has complied with its obligations under DTR 7.3.4R
and DTR 7.3.14G.
Following the transaction, Mr. Venter and his related parties
will have a beneficial interest of 1.41% in the issued share
capital of MED.
Further details can be found in the full MED announcement, which
is available below and at med.energy :
Dated: 15 December 2023
Mast Energy Developments PLC ('MED' or the 'Company')
Director Loan & PDMR Share Sale
Mast Energy Developments PLC, the UK-based multi-asset owner,
developer and operator in the rapidly growing flexible power
market, is pleased to announce that Paulus Fillippus Venter, a
non-executive director and significant shareholder of the Company,
has provided MED with a director loan amounting to GBP81,329 (the
'Director Loan'). The proceeds of the Director Loan will be used
for MED's working capital requirements. In order to fund the
Director Loan, Mr. Venter has sold 14,000,000 MED shares (the 'Loan
Shares') of his total beneficial holdings of 17,708,538 MED shares.
The key terms of the Director Loan are as follows:
-- No fixed term of repayment, with a repayment longstop date of
12 months (from the date of the Director Loan) (the 'Longstop
Date');
-- Interest shall accrue and be paid on the principal amount of
the Director Loan outstanding at 7% per annum; and
-- The repayment will be by the issuance of the same number of
Loan Shares (as Mr. Venter has lost equity number, not equity
value, by the Director Loan), subject to the Company complying with
its statutory obligations and shareholder authorities (incl.
headroom).
As Mr. Venter is a Person Discharging Managerial Responsibility
('PDMR') under the Company's Share Dealing Policy Code, he has
obtained consent from the Company for the sale of the Loan Shares,
which was completed on 13 December 2023. Mr Venter has also
notified the Financial Conduct Authority ('FCA') in the prescribed
manner by submitting the details shown on the Dealing Notification
Form below.
The Director Loan is a related party transaction under DTR
7.3.3R and the Company has complied with its obligations under DTR
7.3.4R and DTR 7.3.14G.
Following this transaction, Mr. Venter and his related parties
will have a beneficial interest of 1.41% in the Company's issued
share capital.
Pieter Krügel, CEO of MED, commented: "We are very pleased that
Mr. Venter was willing and able to provide MED with a director
loan, which shows his ongoing commitment to and support of the
business. This loan will ensure that MED's short-term working
capital requirements are met while we wait for the JV investment to
be completed, as per our recent announcements."
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND
THEIR CLOSELY ASSOCIATED PERSONS
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Paulus Fillippus Venter
----------------------------------------- -----------------------------------
2. Reason for the notification
------------------------------------------------------------------------------
a) Position/status: Non-executive Director -PDMR
----------------------------------------- -----------------------------------
b) Initial notification/Amendment: Initial
----------------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name: Mast Energy Developments
PLC
----------------------------------------- -----------------------------------
b) LEI: 213800HFVHGJ9YGO9F71
----------------------------------------- -----------------------------------
4 Details of the transaction(s): section to be repeated for (i)
. each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary Shares of GBP0.001
type of instrument: each
Identification code GB00BMBSCV12 / MAST
----------------------------------------- -----------------------------------
b) Nature of the transaction: Sale of Securities
----------------------------------------- -----------------------------------
c) Price(s) and volume(s):
----------------------------------------- -----------------------------------
d) Aggregated information: N/A
Aggregated volume:
Price:
----------------------------------------- -----------------------------------
e) Date of the transaction: 13 December 2023
----------------------------------------- -----------------------------------
f) Place of the transaction: London Stock Exchange
----------------------------------------- -----------------------------------
**S**
This announcement contains inside information for the purposes
of the UK version of the Market Abuse Regulation (EU No. 596/2014)
as it forms part of United Kingdom domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the
publication of this announcement, this inside information is now
considered to be in the public domain.
For further information, please visit www.med.energy or
contact:
Pieter Krügel Info@med.energy Mast Energy Developments CEO
PLC
Jon Belliss +44 (0)20 7399 9425 Novum Securities Corporate
Broker
------------------------------ ------------------------- -----------------
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor &
van Rijmenant Media Relations
Advisor
------------------------------ ------------------------- -----------------
This announcement contains inside information as stipulated
under the UK version of the Market Abuse Regulations (EU) no.
596/2014 as it forms part of United Kingdom domestic law by virtue
of the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the
publication of this announcement, this information is now
considered to be in the public domain.
**S**
For further information please visit www.kibo.energy or
contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive
Officer
James Biddle +44 207 628 3396 Beaumont Cornish Nominated Adviser
Roland Cornish Limited
------------------------------ ----------------------- ------------------
Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker
------------------------------ ----------------------- ------------------
Damon Heath +44 207 186 9952 Shard Capital Partners Joint Broker
LLP
------------------------------ ----------------------- ------------------
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and
van Rijmenant Media Relations
Consultant
------------------------------ ----------------------- ------------------
Johannesburg
15 December 2023
Corporate and Designated Adviser
River Group
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