Kibo Energy PLC Issue of Shares in lieu of payment to Contractors (5347E)
November 06 2020 - 12:41PM
UK Regulatory
TIDMKIBO
RNS Number : 5347E
Kibo Energy PLC
06 November 2020
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")
6 November 2020
Kibo Energy PLC ('Kibo' or the 'Company')
Issue of Shares in lieu of payment to Contractors
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset,
Africa focused, energy company announces the issue of 66,864,313
Ordinary Shares of EUR0.001 in the capital of the Company (the
"Shares") to certain providers of professional and technical
consulting services in payment of outstanding invoices. The shares
will be issued at 0.25p per share.
Total Voting Rights
Application will be made for the Shares to be admitted to
trading on AIM and the JSE AltX markets. Trading in the Shares is
expected to commence on AIM and the JSE on or around 12 November
2020 ('Admission'). Following Admission, the Company will have
2,221,640,835 shares in issue. The foregoing figure may be used by
shareholders as the denominator for the calculations to determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.
**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 JSE Corporate and
Designated Adviser
Thomas Smith +44 (0) 20 7392 ETX Capital Limited Broker
1494
Bhavesh Patel / +44 20 3440 6800 RFC Ambrian Limited NOMAD on AIM
Stephen Allen
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ Beth Melluish 1177 Ltd Relations Adviser
Notes
Kibo Energy PLC is a multi-asset, Africa and UK 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
Projects Limited ('MED') (Previously Mast Energy Developments LTD),
a private UK registered company targeting the development and
operation of flexible power plants to service the UK Reserve Power
generation market.
Johannesburg
6 November 2020
Corporate and Designated Adviser
River Group
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END
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