Results of EGM

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 &

Discretion

Votes

Against

Votes

Withheld



Number

%

Number

%

Number

%

 

1.

To increase authorised share capital of the Company

399,078,081

94.93

21,289,659

5.06

40,687

0.01

 









 

2.

To amend the share capital clause of the Memorandum of Association following the increase in authorised share capital

399,078,081

94.93

 

21,289,659

 

5.06

40,687

0.01

 









 

3.

To amend the share capital clause of the Articles of Association following the increase in authorised 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 1494

ETX Capital Limited

Broker

Bhavesh Patel/Stephen Allen

+44 20 3440 6800

RFC Ambrian Limited

NOMAD on AIM

Charlotte Page/Beth Melluish

+44 (0) 20 7236 1177

St Brides Partners Ltd

Investor and Media 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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