Kibo Mining Plc Result of AGM (1612W)
July 30 2018 - 6:00AM
UK Regulatory
TIDMKIBO
RNS Number : 1612W
Kibo Mining Plc
30 July 2018
Kibo Mining 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")
30 July 2018
Kibo Mining PLC ('Kibo' or the 'Company')
Results of AGM and Repositioning
Kibo Mining 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 38% of the shares in Kibo
(624,792,973 shares issued and outstanding at the time of the
AGM).
Included amongst the passed resolutions (specifically Resolution
8 - see Table below), the Company is pleased to announce that the
change of name to Kibo Energy Public Limited Company ("Kibo Energy
PLC" or "Kibo Energy") has been approved by shareholders and will
become effective upon receipt of confirmation of name change from
the Registrar of Companies ("Receipt"). Trading in the Company's
shares under the new name is anticipated to take effect from the
day following Receipt, with both to be announced in due course. The
Company's TIDM will remain KIBO.
With three power projects in development in Tanzania, Botswana
and Mozambique, the Company believes that the new name, Kibo Energy
completes the Company's transformation from a resources company to
a full-fledged energy company, positioning itself as a strategic
and leading energy provider in sub-Sahara Africa.
The proxy voting details at the AGM are shown on the table
below.
Resolution Summary Resolution Votes For & Votes Votes
# Discretion Against Withheld
Number % Number % Number %
------------------------------------------ ------------- ------ -------- ----- ------- -----
To receive, consider and adopt
the accounts for the year
ended 31 December 2017 together
with the Directors and Auditors
1. Reports thereon. 234,646,253 98.18 0 0 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
To re-elect Mr. Tinus Maree
as a
2. Director. 234,569,126 98.14 77,127 0.03 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
To re-elect Mr. Wenzel Kerremans
3. as a Director. 234,646,253 98.18 0 0 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
To appoint Crowe Clarke Whitehill
4. LLP as auditors of the Company 234,579,227 98.15 67,026 0.03
------------------------------------------ ------------- ------ -------- ----- ------- -----
To authorise the Directors
to fix the
5. remuneration of the auditors. 234,646,253 98.18 0 0 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
That the Directors be and
are hereby generally and unconditionally
authorised to exercise all
powers of the Company to allot
relevant securities up to
a maximum aggregate nominal
value equal to the nominal
value of the authorised but
unissued ordinary share capital
of the Company from time to
6. time. 234,476,746 98.10 169,507 0.07 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
That the Directors be and
are hereby empowered pursuant
to Section 1023(3) of the
Companies Act, 2014 to allot
equity
Securities for cash pursuant
to the authority conferred
7. by resolution number 6 above. 234,604,746 98.16 41,507 0.02 0 0
------------------------------------------ ------------- ------ -------- ----- ------- -----
That subject to the approval
of the Registrar of Companies,
the name of the Company shall
be changed from "Kibo Mining
Public Limited Company" to
"Kibo Energy Public Limited
8. Company" 234,604,746 98.16 0 0 41,507 0.02
------------------------------------------ ------------- ------ -------- ----- ------- -----
That subject to the passing
of Resolution 8 above the
Articles and Memorandum of
Association of the Company
9. be updated 234,604,746 98.16 0 0 41,507 0.02
------------------------------------------ ------------- ------ -------- ----- ------- -----
All the resolutions approved, and they will be registered with
the Companies Registration Office (Ireland).
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
For further information please visit www.kibomining.com or
contact:
Louis Coetzee info@kibomining.com Kibo Mining Chief Executive
Plc Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
--------------------- ----------------- -------------------------
Ben Tadd / Tom +44 (0) 20 3700 0093 SVS Securities Joint Broker
Curran Limited
--------------------- ----------------- -------------------------
Jon Belliss +44 (0) 20 7399 9400 Novum Securities Joint Broker
Ltd
--------------------- ----------------- -------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian NOMAD on AIM
Limited
--------------------- ----------------- -------------------------
Isabel de Salis +44 (0) 20 7236 1177 St Brides Investor and Media
/ Priit Piip Partners Ltd Relations Adviser
--------------------- ----------------- -------------------------
Notes to editors
Kibo Mining 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
30 July 2018
Corporate and Designated Adviser
River Group
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END
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