Kibo Energy PLC Strategic Development Agreement with SEPCOIII (1869J)
December 03 2018 - 2:15AM
UK Regulatory
TIDMKIBO
RNS Number : 1869J
Kibo Energy PLC
03 December 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: 03 December 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, announces an update regarding the
Strategic Development Agreement signed with China based SEPCOIII
('SEPCOIII') involving equity investment in the Company by
SEPCOIII. Further to the announcement dated 1 October 2018, in
which a mutual decision to extend the deadline for an investment
decision was announced, SEPCOIII has now requested a further
extension.
The Board of Kibo intends to consider SEPCOIII's request at a
Board meeting to be held this week and determine the terms which
would be acceptable to the Company for such an extension, taking
into consideration the recent strong interest received by the
Company from other entities expressing their desire to participate
in the development of Kibo's portfolio of energy projects.
**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
------------------- ----------------------- -------------------------
Jason Robertson +44 (0) 20 7374 First Equity Limited Joint Broker
2212
------------------- ----------------------- -------------------------
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
/ 1177 Ltd Relations Adviser
Gaby Jenner
------------------- ----------------------- -------------------------
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
03 December 2018
Corporate and Designated Adviser
River Group
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END
AGRTJBPTMBMMMJP
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