TIDMKIBO
RNS Number : 2717P
Kibo Energy PLC
08 June 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")
08 June 2020
Kibo Energy PLC ('Kibo' or the 'Company')
Results of EGM and the Company's Proposed Share Capital
Reorganisation
Kibo Energy PLC (AIM: KIBO; AltX:KBO), the multi-asset,
Africa-focused, energy company, announces the results of voting at
an Extraordinary General Meeting ("EGM") held today. Proxies were
received by shareholders holding
46.55 % of the shares in Kibo (1,272,272,188 shares issued and outstanding).
The proxy voting details at the EGM are shown on the table below: -
Resolu- Summary Resolution Votes For & Votes Votes
tion # Discretion Against Withheld
Number % Number % Number %
-------------------------------- ------------ ---- -------------- ---- --------- ------
To subdivide the issued
share capital of the
1. Company 401,248,966 68 190,949,167 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Memorandum
of Association following
subdivision of share
2. capital of the Company 401,257,864 68 190,940,269 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Articles
of Association following
the subdivision of share
3. capital of the Company 401,257,864 68 190,940,269 32 0 0.000
-------------------------------- ------------ ---- -------------- ---- --------- ------
To consolidate the authorised
but unissued Pre-consolidation
4. Shares of the Company 401,257,864 68 190,963,117 32 0 0.000
-------------------------------- ------------ ---- -------------- ---- --------- ------
To consolidate the issued
Pre-consolidation Shares
5. of the Company 401,257,864 68 190,963,117 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To authorise the Company
to purchase 1,291,394,535
6. 2013 Deferred Shares 401,257,864 68 190,964,869 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To authorise the Company
to purchase 805,053,798
7. 2019 Deferred Shares 401,257,864 68 190,940,269 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To decrease the authorised
share capital of the
Company by the cancellation
of the authorised 2013
Deferred Shares of the
8. Company. 401,269,144 68 185,521,900 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To decrease the authorised
share capital by the
cancellation of the
authorised 2019 Deferred
9. Shares of the Company. 401,269,145 68 185,521,900 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Memorandum
of Association following
10. reduction in share capital 401,278,042 68 190,920,091 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Articles
of Association following
the reduction in share
11. capital 401,278,042 68 190,920,091 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
To increase share capital
of the Company following
the subdivision and
12. consolidation 401,278,042 68 190,920,091 32 22,848 0.004
-------- -------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Memorandum
of Association following
the increase in authorised
13. share capital 401,257,864 68 190,940,269 32 22,848 0.004
-------- -------------------------------- ------------ ---- -------------- ---- --------- ------
To amend the share capital
clause of the Articles
of Association following
the increase in share
capital and the buyback
of the 2013 Deferred
Shares and 2019 Deferred
14. Shares. 401,278,042 68 190,920,091 32 22,848 0.004
-------------------------------- ------------ ---- -------------- ---- --------- ------
As the Company did not reach the mandatory threshold of 75%
approval from shareholders for resolutions 2,3,6,7,10,11,13 and 14
which are all Special Resolutions and the remaining resolutions
which are Ordinary Resolutions are conditional and interdependent
on approval of the Special Resolutions, all resolutions have not
been approved.
A further update will be provided as soon as possible in
follow-up to this announcement, setting out the Company's plans
going forward.
**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
------------------ ------------------- ------------------------
Philip Adler +44 (0) 20 7392 ETX Capital Limited Broker
1494
------------------ ------------------- ------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian Limited NOMAD on AIM
/ Stephen Allen
------------------ ------------------- ------------------------
Charlotte Page +44 (0) 20 7236 St Brides Partners Investor and Media
/ 1177 Ltd Relations Adviser
Beth Melluish
------------------ ------------------- ------------------------
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 UK Reserve Power generation market.
Johannesburg
08 June 2020
Corporate and Designated Adviser
River Group
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END
ROMEAEKPEADEEFA
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