Kibo Energy PLC Issue of Fee Shares in respect of CLN (2342V)
August 05 2020 - 6:30AM
UK Regulatory
TIDMKIBO
RNS Number : 2342V
Kibo Energy PLC
05 August 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")
Dated: 05 August 2020
Kibo Energy PLC ('Kibo' or the 'Company')
Issue of Fee Shares in respect of Convertible Loan Note
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset,
Africa focused, energy company announces that it has now drawn down
the first tranche of funding of GBP300,000 in respect of the
funding facility for up to GBP1 million announced on the 25 June
2020 ("the Facility"). The terms of the Facility require the
payment of a drawdown fee of GBP45,000 and legal due diligence fee
of GBP18,000 (total of GBP63,000) to be paid to the lenders. Kibo
has elected to pay this in Kibo shares in the amount of 28,636,364
new ordinary shares ("Fee Shares") at a nominal share price of
GBP0.0022 (0.22p) which is the calculated 5-day Volume Weighted
Average Price from the date on which the Company submitted its draw
down request on the 17 July 2020. Consequently the 28,636,364 Fee
Shares represent an aggregate amount of GBP63,000 at a share price
of GBP0.0022.
Total Voting Rights
Application will be made for the Fee Shares to be admitted to
trading on AIM and the JSE AltX markets. Trading in the Fee Shares
is expected to commence on AIM and the JSE on or around 12 August
2020 ('Admission'). Following Admission, the Company will have
1,323,126,552 shares in issue. The foregoing gure 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.
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) 834408365 River Group Corporate and Designated
Adviser on JSE
------------------- ----------------------------
Philip Adler +44 (0) 20 73921494 ETX Capital Limited Joint Broker
------------------- ------------------- ----------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian NOMAD on AIM
/ Stephen Allen Limited
------------------- ------------------- ----------------------------
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media Relations
/ Beth Melluish 1177 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 UK Reserve Power generation market.
Johannesburg
05 August 2020
Corporate and Designated Adviser
River Group
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END
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