Kibo Energy PLC Convertible Instrument Update (8271Y)
September 08 2022 - 10:20AM
UK Regulatory
TIDMKIBO
RNS Number : 8271Y
Kibo Energy PLC
08 September 2022
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: 08 September 2022
Kibo Energy PLC ('Kibo' or the 'Company')
Convertible Instrument Update
Kibo Energy PLC (AIM: KIBO; AltX: KBO) ('Kibo' or the
'Company'), the renewable energy focused development company,
provides updated disclosure in relation to the announcement made on
7 January 2022 on the settlement of outstanding fees to directors
and management for the period March 2019 to June 2020.
Taken in aggregate, the Convertible Instrument issued to
directors and former directors (who were on the board of the
Company within 12 months preceding the issue of the Convertible
Instrument), is considered to be a related party transaction in
accordance with the AIM Rules for Companies.
The director who was not a party to the Convertible Instrument,
having consulted with RFC Ambrian Limited, the Company's Nominated
Adviser, considers that the issue of the Convertible Instrument is
fair and reasonable insofar as the Company's shareholders are
concerned.
The interest of each Director and Former Director in the
transaction is noted below:
Director Convertible Instrument
Amount (GBP)
Christian Schaffalitzky (Chairman) 29,752
-----------------------
Louis Coetzee (Director) 218,904
-----------------------
Noel O'Keefe (Non-Executive Director) 64,716
-----------------------
Andreas Lianos (Non-Executive Director) 38,782
-----------------------
Lukas Maree (Former Non-Executive Director) 76,343
-----------------------
Wenzel Kerremans (Former Non-Executive
Director) 14,839
-----------------------
Louis Scheepers (Kibo subsidiary director) 146,506
-----------------------
Pieter Krugel (Kibo subsidiary director) 82,981
-----------------------
All capitalized terms used in the announcement will have the
same meaning as the announcement of 7 January 2022 unless otherwise
stated.
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 and is
announced in accordance with the Company's obligations under
Article 17 of the specified Regulation.
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 Joint Broker
2341
-------------------------------- ----------------------- -----------------------------
Damon Heath +44 207 186 9952 Shard Capital Partners Joint Broker
LLP
-------------------------------- ----------------------- -----------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian Ltd NOMAD on AIM
/ Stephen
Allen
-------------------------------- ----------------------- -----------------------------
Zainab Slemang zainab@lifacommunications.co.za Lifa Communications Investor and Media Relations
van Rijmenant Consultant
-------------------------------- ----------------------- -----------------------------
Johannesburg
08 September 2022
Corporate and Designated Adviser
River Group
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END
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