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	[e-mail]	Kibo Energy PLC	Chief Executive Officer
James Biddle Roland Cornish	[phone]	Beaumont Cornish Limited	Nominated Adviser
Claire Noyce	[phone]	Hybridan LLP	Joint Broker
Damon Heath	[phone]	Shard Capital Partners LLP	Joint Broker
Zainab Slemang van Rijmenant	[e-mail]	Lifa Communications	Investor and Media Relations Consultant

Johannesburg

7 December 2023

Corporate and Designated Adviser

River Group

 

END