Result of AGM

RNS Number : 1612W

Kibo Mining Plc

30 July 2018

 

Kibo Mining 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")

30 July 2018

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

Results of AGM and Repositioning

Kibo Mining PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that all resolutions were duly passed at its Annual General Meeting ("AGM") held today. The AGM was attended in person and by proxy by shareholders holding approximately 38% of the shares in Kibo (624,792,973 shares issued and outstanding at the time of the AGM).

Included amongst the passed resolutions (specifically Resolution 8 - see Table below), the Company is pleased to announce that the change of name to Kibo Energy Public Limited Company ("Kibo Energy PLC" or "Kibo Energy") has been approved by shareholders and will become effective upon receipt of confirmation of name change from the Registrar of Companies ("Receipt"). Trading in the Company's shares under the new name is anticipated to take effect from the day following Receipt, with both to be announced in due course. The Company's TIDM will remain KIBO.

With three power projects in development in Tanzania, Botswana and Mozambique, the Company believes that the new name, Kibo Energy completes the Company's transformation from a resources company to a full-fledged energy company, positioning itself as a strategic and leading energy provider in sub-Sahara Africa.

The proxy voting details at the AGM are shown on the table below.

Resolution #	Summary Resolution	Votes For & Discretion		Votes Against		Votes Withheld
		Number	%	Number	%	Number	%
1.	To receive, consider and adopt the accounts for the year ended 31 December 2017 together with the Directors and Auditors Reports thereon.	234,646,253	98.18	0	0	0	0
2.	To re-elect Mr. Tinus Maree as a Director.	234,569,126	98.14	77,127	0.03	0	0
3.	To re-elect Mr. Wenzel Kerremans as a Director.	234,646,253	98.18	0	0	0	0
4.	To appoint Crowe Clarke Whitehill LLP as auditors of the Company	234,579,227	98.15	67,026	0.03
5.	To authorise the Directors to fix the remuneration of the auditors.	234,646,253	98.18	0	0	0	0
6.	That the Directors be and are hereby generally and unconditionally authorised to exercise all powers of the Company to allot relevant securities up to a maximum aggregate nominal value equal to the nominal value of the authorised but unissued ordinary share capital of the Company from time to time.	234,476,746	98.10	169,507	0.07	0	0
7.	That the Directors be and are hereby empowered pursuant to Section 1023(3) of the Companies Act, 2014 to allot equity Securities for cash pursuant to the authority conferred by resolution number 6 above.	234,604,746	98.16	41,507	0.02	0	0
8.	That subject to the approval of the Registrar of Companies, the name of the Company shall be changed from "Kibo Mining Public Limited Company" to "Kibo Energy Public Limited Company"	234,604,746	98.16	0	0	41,507	0.02
9.	That subject to the passing of Resolution 8 above the Articles and Memorandum of Association of the Company be updated	234,604,746	98.16	0	0	41,507	0.02

All the resolutions approved, and they will be registered with the Companies Registration Office (Ireland).

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

For further information please visit www.kibomining.com or contact:

Louis Coetzee	[e-mail]	Kibo Mining 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
Jon Belliss	[phone]	Novum Securities Ltd	Joint Broker
Andrew Thomson	[phone]	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Priit Piip	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

Notes to editors

Kibo Mining PLC is a multi-asset, Africa focussed, 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 will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes:  SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International LLP.

Johannesburg

30 July 2018

Corporate and Designated Adviser

River Group

 

END

 

 

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