Kibo Subsidiary Announces TR-1 Notification

Kibo Energy PLC
20 February 2024
 

Kibo Energy PLC (Incorporated in Ireland)A picture containing text, clipart Description automatically generated

(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')

 

Dated: 20 February 2024

 

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

 

Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings

 

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company, announces a TR-1 Notification by its subsidiary Mast Energy Developments PLC ('MED'), a UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market.

 

The proceeds from the disposal of the MED shares amounting to approximately £20,860 have been used to reduce the outstanding balance on the Company's reprofiled bridge loan facility with RiverFort Global Opportunities PCC Ltd. (refer Kibo RNS announcements of 11 and 26 April 2023).

 

Further details can be found in the full MED announcement, which is available below and at med.energy:

 

-------------------------

Dated: 20 February 2024

 

TR-1: Standard form for notification of major holdings

 

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)

 

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Mast Energy Developments PLC

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)



2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

 

An event changing the breakdown of voting rights

 

Other (please specify):

 

3. Details of person subject to the notification obligation

Name

Kibo Mining (Cyprus) Limited

City and country of registered office (if applicable)

Limassol Cyprus

4. Full name of shareholder(s) (if different from 3.)

Name

 

City and country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached:

19/02/24

6. Date on which issuer notified (DD/MM/YYYY):

19/02/24

7. Total positions of person(s) subject to the notification obligation

 

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B)

Resulting situation on the date on which threshold was crossed or reached

35.80%

 

35.80%

94,461,746

Position of previous notification (if

applicable)

37.70%

 

37.70%

 

 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

A: Voting rights attached to shares

Class/type of shares

ISIN code (if possible)

Number of voting rights

% of voting rights

 

Direct

(DTR5.1)

Indirect

 (DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

GB00BMBSCV12

94,461,746

 

35.80%

 

 

 

 

 

 

SUBTOTAL 8. A

94,461,746

 

 

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

 

 

 

 

 

 

 

SUBTOTAL 8. B 1

 

 

 

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Physical or cash

Settlement

Number of voting rights

% of voting rights

 

 

 

 

 

 

 

 

 

SUBTOTAL 8.B.2

 

 

 

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer

 

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)

X

Name

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Kibo Energy PLC

 

 

 

Kibo Mining (Cyprus) Limited

35.80%

 

35.80%

 

10. In case of proxy voting, please identify:

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

 

11. Additional information

 

 

Place of completion

Limassol, Cyprus

Date of completion

19/02/24

 

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

 

Pieter Krügel

info@med.energy

Mast Energy Developments PLC

CEO

Jon Belliss

+44 (0)20 7399 9425

Novum Securities

Corporate Broker

 

**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

 

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

 

Johannesburg

20 February 2024

Corporate and Designated Adviser

River Group

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