Kibo Energy PLC Mast Energy Developments Plc IPO on 14 April 2021 (7222T)
March 29 2021 - 2:00AM
UK Regulatory
TIDMKIBO
RNS Number : 7222T
Kibo Energy PLC
29 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: 29 March 2021
Mast Energy Developments Plc - IPO Admission on 14 April
2021
Kibo Energy PLC ('Kibo' or the 'Company'), the multi-asset,
Africa focused, energy company, is pleased to announce that MAST
Energy Developments Plc ("MED") is to list on the Official List of
the London Stock Exchange plc ("London Stock Exchange" or "LSE") by
way of a Standard Listing on 14 April 2021 ('Admission') under the
ticker MAST.
More information on MED and access to the MED-prospectus is
available on the MED-website at https://med.energy/ and
https://med.energy/wp-content/uploads/2021/03/MAST-prospectus-IPO.pdf
respectively.
Louis Coetzee, CEO of Kibo, said, "With strong institutional and
retail support having raised in excess of GBP5m, MED now looks
forward to listing on the London Stock Exchange on 14 April 2021.
Thereafter, it will hit the ground running, rapidly building
production and strengthening its position as a key energy provider
supporting the UK's transition to renewable energy."
MED Overview
MED, currently a 100% subsidiary company of Kibo Energy Plc and
the 100% holding company of Sloane Developments Ltd ("Sloane"), is
listing on the Official List of the London Stock Exchange on 14
April 2021.
As announced on 5 February 2021, MED has raised in excess of
GBP5 million through a Placing of 44,320,000 Ordinary Shares of
188,564,036 for its upcoming IPO, giving it a market capitalisation
on listing of c. GBP23 million. MED will remain a Kibo subsidiary
after listing with Kibo holding 55,42% interest on the day of
Admission.
MED was established to acquire and develop a portfolio of
flexible power plants in the UK and become a multi-asset operator
in the rapidly growing Reserve Power market; this is critical for
the renewable energy market, which needs natural gas as a back-up
source of energy given renewable supply can be intermittent.
To this end, MED has an initial portfolio of small-scale power
generation assets, which, on listing, will be in a position to
develop at scale and pace, as opposed to a project-by-project
basis, and will advance rapidly towards significant revenue
generation. On listing, Sloane expects to have c.9 MW in immediate
production capacity, c.20 MW in production capacity within the
first six months from listing, and another c.20 MW in production
capacity over the next six months. Various other "shovel ready"
sites have already been identified in the UK.
**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 CEO
PLC
Andreas Lianos +357 99 53 1107 River Group JSE Corporate and Designated
Adviser
---------------------------- ------------------- -----------------------------
Claire Noyce +44 (0) 20 3764 Hybridan LLP Broker
2341
---------------------------- ------------------- -----------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian NOMAD on AIM
/ Stephen Limited
Allen
---------------------------- ------------------- -----------------------------
Isabel de info@stbridespartners.co.uk St Brides Partners Financial PR
Salis / Charlie Ltd
Hollinshead
---------------------------- ------------------- -----------------------------
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
29 March 2021
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFFTVTITFIL
(END) Dow Jones Newswires
March 29, 2021 02:00 ET (06:00 GMT)
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From Jul 2024 to Aug 2024
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From Aug 2023 to Aug 2024