TIDMKIBO

Kibo Energy PLC

21 May 2021

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")

Dated: 21 May 2021

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

Bordesley Progress

Kibo Energy PLC, the multi-asset energy development company, notes that its 55% subsidiary, MAST Energy Developments PLC ("MED") today announced an exciting update, in which the company announced that its Bordesley project has now reached construction-ready status following a rigorous work programme since its LSE listing on 14 April 2021.

MED, with adequate funding available, also implemented a work programme to review and evaluate its available pipeline of sites to ensure successful and timely delivery of its business strategy stated in the Company Prospectus.

Full RNS can be viewed at: https://polaris.brighterir.com/public/mast_energy_developments/news/rns/story/wklm52x

**ENDS**

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

 
 Louis Coetzee              info@kibo .energy             Kibo Energy PLC      Chief Executive Officer 
 Andreas Lianos             +357 99 53 1107               River Group          JSE Corporate and Designated 
                                                                                Adviser 
                           ----------------------------  -------------------  ----------------------------- 
Claire Noyce               +44 (0) 20 3764                Hybridan LLP         Broker 
                            2341 
                           ----------------------------  -------------------  ----------------------------- 
 Bhavesh Patel              +44 20 3440 6800              RFC Ambrian Ltd      NOMAD on AIM 
  / Stephen Allen 
                           ----------------------------  -------------------  ----------------------------- 
 Isabel de Salis            info@stbridespartners.co.uk   St Brides Partners   Investor and Media Relations 
  / Charlotte Hollinshead                                  Ltd                  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.

Johannesburg

21 May 2021

Corporate and Designated Adviser

River Group

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END

NRASEISWFEFSEEI

(END) Dow Jones Newswires

May 21, 2021 03:35 ET (07:35 GMT)

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