Kibo Energy PLC Result of AGM (4716N)
September 24 2019 - 5:07AM
UK Regulatory
TIDMKIBO
RNS Number : 4716N
Kibo Energy PLC
24 September 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")
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 EUR0.015 per share to EUR0.001 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.
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 %
------------------------------- ------------ ------ -------- ----- ------- -----
To receive, consider
and adopt the accounts
for the year ended 31
December 2018 and the
Directors and Auditors
1. Reports thereon. 119,338,913 99.71 347,519 0.29 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To authorise the Directors
to fix the remuneration
2. of the auditors. 119,338,913 99.71 347,519 0.29 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To re-elect Mr Christian
3. Schaffalitzky as a Director. 119,338,913 99.71 347,519 0.29 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To re-elect Mr Noel
4. O'Keeffe as a Director. 119,338,913 99.71 347,519 0.29 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
That the Directors be
and are hereby generally
and unconditionally
authorised to exercise
all powers of the Company
5. to allot relevant securities. 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
That the Directors be
and are hereby empowered
pursuant to Section
1023(3) of the Companies
Act, 2014 to allot equity
6. securities. 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To subdivide the share
7. capital of the Company 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To amend the share capital
clause of the Memorandum
8. of Association 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To amend the share capital
clause of the Articles
9. of Association 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To increase the authorised
share capital of the
10. Company 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To amend the share capital
clause of the Memorandum
11. of Association 119,238,913 99.63 447,519 0.37 0 0.00
------------------------------- ------------ ------ -------- ----- ------- -----
To amend the share capital
clause of the Articles
12. 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**
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
Investor & Media Relations Ltd
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
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END
RAGPGUAUBUPBGUC
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