TIDMKIBO

RNS Number : 9679W

Kibo Energy PLC

24 August 2020

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")

24 August 2020

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

Results of EGM

Kibo Energy PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, announces the results of voting at an Extraordinary General Meeting ("EGM") held today. Proxies were received by shareholders holding 31.77% of the shares in Kibo (1,323,126,552 shares issued and outstanding). All Resolutions were carried by approximately 95% of proxy votes cast.

   The proxy voting details at the EGM are shown on the table   below: - 
 
 Resolution        Summary Resolution            Votes For &                Votes                Votes 
      #                                           Discretion               Against              Withheld 
                                                Number        %        Number       %      Number     % 
             ------------------------------  ------------  ------  -------------  -----  ---------  ----- 
              To increase authorised 
     1.        share capital of the Company   399,078,081   94.93    21,289,659    5.06    40,687    0.01 
             ------------------------------  ------------  ------  -------------  -----  ---------  ----- 
 
              To amend the share capital 
               clause of the Memorandum 
               of Association following 
               the increase in authorised 
     2.        share capital                  399,078,081   94.93     21,289,659   5.06    40,687    0.01 
             ------------------------------  ------------  ------  -------------  -----  ---------  ----- 
 
              To amend the share capital 
               clause of the Articles 
               of Association following 
               the increase in authorised 
     3.        share capital.                 399,078,081   94.93    21,289,659    5.06    40,687    0.01 
             ------------------------------  ------------  ------  -------------  -----  ---------  -----

**ENDS**

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

 
Louis Coetzee          info@kibo .energy   Kibo Energy PLC      Chief Executive Officer 
Andreas Lianos         +27 (0) 83 4408365  River Group          Corporate and Designated 
                                                                 Adviser on JSE 
                       ------------------  -------------------  ------------------------ 
Philip Adler           +44 (0) 20 7392     ETX Capital Limited  Broker 
                        1494 
                       ------------------  -------------------  ------------------------ 
Bhavesh Patel/Stephen  +44 20 3440 6800    RFC Ambrian Limited  NOMAD on AIM 
 Allen 
                       ------------------  -------------------  ------------------------ 
Charlotte Page/Beth    +44 (0) 20 7236     St Brides Partners   Investor and Media 
 Melluish               1177                Ltd                  Relations Adviser 
                       ------------------  -------------------  ------------------------

Notes

Kibo Energy PLC is a multi-asset, Africa focused, 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 has a 60% interest in MAST Energy Developments Limited ('MED'), a private UK registered company targeting the development and operation of flexible power plants to service the UK Reserve Power generation market.

Johannesburg

24 August 2020

Corporate and Designated Adviser

River Group

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END

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August 24, 2020 05:35 ET (09:35 GMT)

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