Kibo Energy PLC Kibo Engages Wimmer Financial LLP (5307W)
April 17 2019 - 9:00AM
UK Regulatory
TIDMKIBO
RNS Number : 5307W
Kibo Energy PLC
17 April 2019
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 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
/ Gaby Jenner 1177 Ltd 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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END
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