Kibo Energy PLC Strategic Development Agreement with SEPCOIII (4713C)
October 01 2018 - 1:00AM
UK Regulatory
TIDMKIBO
RNS Number : 4713C
Kibo Energy PLC
01 October 2018
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: 1 October 2018
Kibo Energy PLC ('Kibo' or the 'Company')
Strategic Development Agreement with SEPCOIII
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset,
Africa focused energy company, advises an update further to the
announcement of 3 July 2018 relating to the Strategic Development
Agreement ('SDA') signed with China based SEPCOIII ('SEPCOIII'), in
which the intention of SEPCO III to make one or more equity
investments in Kibo was announced.
SEPCO III's internal investment approval process is ongoing and
could not be completed before the 30 September 2018 due date by
which all conditions, including required approvals, had to be
obtained.
The parties have mutually agreed to extend the due date for this
process to 30 November 2018. Further updates will be provided in
due course.
**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 SVS Securities Limited Joint Broker
Tom Curran 0093
------------------- ----------------------- -------------------------
Jon Belliss +44 (0) 20 7399 Novum Securities Joint Broker
9400 Ltd
------------------- ----------------------- -------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
------------------- ----------------------- -------------------------
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ Gaby Jenner 1177 Ltd Relations Adviser
------------------- ----------------------- -------------------------
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, 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 / Barclays Africa; and Hogan Lovells
International LLP.
Johannesburg
01 October 2018
Corporate and Designated Adviser
River Group
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END
AGRUAUVRWNARRRA
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