Kibo Energy PLC Outstanding Loan Settlement and Warrant Proceeds (9571Z)
May 27 2021 - 02:00AM
UK Regulatory
TIDMKIBO
RNS Number : 9571Z
Kibo Energy PLC
27 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")
27 May 2021
Kibo Energy PLC ('Kibo' or the 'Company')
Settlement of Outstanding Loan and Warrant Proceeds
Kibo Energy PLC (AIM: KIBO; AltX:KBO), the multi-asset,
Africa-focused, energy company, has today issued 65,276,346 new
Kibo Shares of EUR0.001 each (the "Settlement Shares") at a deemed
issue price of GBP0.0026 per share ("Settlement Share Price") to
Sanderson Capital Partners Limited ("Sanderson") in settlement of
GBP169,718.50 of the total outstanding amount of GBP339,437
pursuant to the Forward Payment Facility (the "Facility") signed
between Sanderson and the Company in December 2016. This settlement
represents 50% of the outstanding amount on the Facility. The
remaining amount of GBP169,718.50 is being settled in cash, in full
and final settlement of all outstanding amounts on the
Facility.
The Settlement Share Price is the closing price of the Company
shares on AIM on 26 May 2021.
The Company also notes that in 2021 to date, warrant holders
have exercised 188,431,556 Kibo warrants at prices of GBP0.002 to
GBP0.004 for total proceeds of GBP697,726 received by the Company.
The Company currently has 750,861,140 warrants in issue ranging in
price from GBP0.002 to GBP0.006.
Total Voting Rights
Application will be made for the Settlement Shares to be
admitted to trading on AIM and the JSE AltX markets. Trading in the
Settlement Shares is expected to commence on AIM and the JSE on or
around 7 June 2021 ('Admission'). Following Admission, the Company
will have 2,475,348,737 shares in issue. The foregoing figure may
be used by shareholders as the denominator for the calculations to
determine if they are required to notify their interest in, or a
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
Following the Admission, Sanderson will hold 13.43% interest in
the Company.
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").
For further information please visit www.kibo.energy or
contact:
Louis Coetzee info@kibo .energy Kibo Energy Chief Executive Officer
PLC
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 NOMAD on AIM
/ Stephen Allen Ltd
---------------------------- ------------------- -----------------------------
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
27 May 2021
Corporate and Designated Adviser
River Group
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END
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