Result of AGM

Kibo Energy PLC
07 December 2023
 

Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

LEI Code: 635400WTCRIZB6TVGZ23

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

 ISIN: IE00B97C0C31

("Kibo" or "the Company")

 

7 December 2023

 

Kibo Energy PLC ('Kibo' or the 'Company')
Results of Annual General Meeting

 

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the results of voting at its Annual General Meeting ("AGM") held today. Proxies were received by shareholders holding 21.51% of the shares in Kibo (3,779,866,683 ordinary shares issued and outstanding). 

The proxy voting results at the AGM are shown in the table below: -

Resolu-tion #

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 2022 and the Directors' and Auditor's Reports thereon.

 

807,317,393

 

 

99.91

 

761,442

 

0.09

 

5,150,000

 

n/a









2.

To authorise the Directors to fix the remuneration of the Auditors

805,897,574

99.73

2,181,261

0.27

5,150,000

n/a









3.

To re-elect Noel O'Keeffe as a Director.

737,318,477

91.25

70,660,358

8.75

5,250,000

n/a









4.

To re-elect Ajay Saldanha as a Director.

615,832,241

76.22

192,146,594

23.78

5,250,000

n/a









5.

That the Directors be and are hereby generally and unconditionally authorised to execute all powers of the Company to allot relevant securities.

527,220,477

64.84

285,858,358

35.16

150,000

n/a









6.

That the Directors be and are hereby empowered pursuant to Section 1023(3) of the Companies Act, 2014 to allot equity securities.

527,220,477

64.84

285,858,358

35.16

150,000

n/a









7.

That the Memorandum of Association of the Company be updated

527,220,477

64.84

285,858,358

35.16

150,000

n/a









8.

That the Articles of Association of the Company be updated.

527,220,477

64.84

285,858,358

35.16

150,000

n/a

*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" and "Against"

 

 

The Ordinary Resolutions 1, 2, 3, 4 & 5 were carried as their vote exceeded the required threshold of 50% of proxies cast, voting in favour. The Special Resolutions, 6, 7 and 8 were not carried as they did not reach the minimum threshold of 75% of proxies cast, voting in favour.

 

 Shareholders should note that Special Resolutions 7 & 8 on the Notice of AGM were matters for which approval was sought to enable the Company to update the Company's Articles & Memorandum of Association with the Companies Registration Office in Ireland following a reduction in par value of the Company's shares and an increase in the authorised capital of the Company previously approved at a Company's EGM held on 2 June 2023 last ("EGM"). The failure to carry these two resolutions means that the Company's Memo & Articles of Association cannot be updated at the Companies Registration Office to reflect the reduction in par value and the increase in the authorised capital approved at the EGM and which remain unaffected by the voting results today.

 

**ENDS**

 

For further information please visit www.kibo.energy or contact:

 

Louis Coetzee

info@kibo.energy

Kibo Energy PLC

Chief Executive Officer

James Biddle Roland Cornish

+44 207 628 3396

Beaumont Cornish Limited

Nominated Adviser

Claire Noyce

+44 20 3764 2341

Hybridan LLP

Joint Broker

Damon Heath

+44 207 186 9952

Shard Capital Partners LLP

Joint Broker

Zainab Slemang van Rijmenant

zainab@lifacommunications.com

Lifa Communications

Investor and Media Relations Consultant

 

Johannesburg

7 December 2023

Corporate and Designated Adviser

River Group

 

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