Issue of Shares in lieu of cash

RNS Number : 4659C

Kibo Energy PLC

17 June 2019

 

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: 17 June 2019

Kibo Energy PLC ('Kibo' or the 'Company')

Issue of Shares in lieu of payment to Service Providers & Contractors

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company announces the issue of 10,518,741 Ordinary Shares of €0.015 in the capital of the Company in payment of various service invoices to certain providers of professional and technical consulting services ("Contractor Shares"). Details of the Contractor Shares are outlined below.

 

Table 1: Issue of Contractor Shares

Description	Payment Value (GBP)	Issue Price per Share (GBP)	No. of new Kibo Shares issued
Service Provider and Contractor fees	142,003.01	0.0135	10,518,741

Total Voting Rights

Application will be made for the Contractor Shares (the "Shares") to be admitted to trading on AIM and the JSE AltX markets. Trading in the Shares is expected to commence on AIM and the JSE on or around 24 June 2019 ('Admission'). Following Admission, the Company will have 776,986,592 shares in issue. The foregoing figure 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.

 

 

**ENDS**

 

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	[e-mail]	Kibo Energy PLC	Chief Executive Officer
Andreas Lianos	[phone]	River Group	Corporate and Designated Adviser on JSE
Ben Tadd / Tom Curran	[phone]	SVS Securities Limited	Joint Broker
Jason Robertson	[phone]	First Equity Limited	Joint Broker
Andrew Thomson	[phone]	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Gaby Jenner	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

Notes to editors

Kibo Energy PLC is a multi-asset energy company focused on progressing a diverse portfolio of advanced power generation and mining projects in Sub-Saharan Africa and the UK, utilising established international relationships with key development partners.  It is simultaneously developing three coal-fuelled power projects in Africa: the Benga Independent Power Project in Mozambique; the Mabesekwa Coal Independent Power Project in Botswana; and the Mbeya Coal to Power Project in Tanzania. Additionally, the Company has a 60% interest in MAST Energy Developments Limited, a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market.

Johannesburg

17 June 2019

Corporate and Designated Adviser

River Group

 

END

 

 

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