Kibo Energy PLC Warrant Exercise (0447R)
March 03 2021 - 6:30AM
UK Regulatory
TIDMKIBO
RNS Number : 0447R
Kibo Energy PLC
03 March 2021
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: 03 March 2021
Warrant Exercise
Kibo Energy PLC ('Kibo' or the 'Company'), the multi-asset,
Africa & UK focused, energy company is pleased to announce that
certain warrant holders have exercised 74,569,556 Company warrants
to subscribe for 74,569,556 new Kibo shares (the "Warrant Shares")
under the terms of warrants announced on the 17 September 2020. The
warrants were exercisable at a price of GBP 0.004 (0.4p) per
warrant. The gross proceeds to the Company were GBP298,278
following exercise of the warrants.
Total Voting Rights
Application will be made for the Warrant Shares to be admitted
to trading on AIM and the JSE AltX markets. Trading in the Warrant
Shares is expected to commence on AIM and the JSE on or around 9
March 2021 ('Admission'). Following Admission, the Company will
have 2,337,710,391 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.
Louis Coetzee, CEO of KIBO said: "We are very pleased with the
strong confidence that a number of our shareholders, most notably
some of the Company's biggest shareholders, have shown in Kibo by
way of the recent warrant exercises. Most of these were done at a
premium to market and has significantly bolstered the Company's
cash position with an additional GBP408,300.00, allowing the
Company to allocate even more resources towards accelerating
development of the Company's project portfolio".
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.kibo.energy or
contact:
Louis Coetzee info@kibo .energy Kibo Energy PLC Chief Executive Officer
Andreas Lianos +357 99 53 1107 River Group JSE Corporate and Designated
Adviser
------------------ ------------------- -----------------------------
Claire Noyce +44 (0) 20 3764 Hybridan LLP Broker
2341
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Bhavesh Patel +44 20 3440 6800 RFC Ambrian Ltd NOMAD on AIM
/ Stephen
Allen
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Isabel de +44 (0) 20 7236 St Brides Partners Investor and Media Relations
Salis / Beth 1177 Ltd Adviser
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.
Johannesburg
03 March 2021
Corporate and Designated Adviser
River Group
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END
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