Kibo Energy PLC Issue of Shares in lieu of cash (4659C)

TIDMKIBO

RNS Number : 4659C

Kibo Energy PLC

17 June 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 June 2019

Kibo Energy PLC ('Kibo' or the 'Company')

Issue of Shares in lieu of payment to Service Providers & Contractors

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company announces the issue of 10,518,741 Ordinary Shares of EUR0.015 in the capital of the Company in payment of various service invoices to certain providers of professional and technical consulting services ("Contractor Shares"). Details of the Contractor Shares are outlined below.

Table 1: Issue of Contractor Shares

 
 Description                          Payment        Issue       No. of new 
                                     Value (GBP)      Price      Kibo Shares 
                                                    per Share      issued 
                                                      (GBP) 
 Service Provider and Contractor 
  fees                                142,003.01       0.0135     10,518,741 
                                   -------------  -----------  -------------

Total Voting Rights

Application will be made for the Contractor Shares (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 24 June 2019 ('Admission'). Following Admission, the Company will have 776,986,592 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              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 energy company focused on progressing a diverse portfolio of advanced power generation and mining projects in Sub-Saharan Africa and the UK, utilising established international relationships with key development partners. It is simultaneously developing three coal-fuelled power projects in Africa: the Benga Independent Power Project in Mozambique; the Mabesekwa Coal Independent Power Project in Botswana; and the Mbeya Coal to Power Project in Tanzania. Additionally, the Company has a 60% interest in MAST Energy Developments Limited, a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market.

Johannesburg

17 June 2019

Corporate and Designated Adviser

River Group

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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