Kibo Energy PLC Funding Update: UK Waste to Energy Project (6802M)
September 23 2021 - 2:00AM
UK Regulatory
TIDMKIBO
RNS Number : 6802M
Kibo Energy PLC
23 September 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: 23 September 2021
Kibo Energy PLC ('Kibo' or the 'Company')
Funding Update: Strategic Investment in UK Waste to Energy
Project
Kibo Energy PLC, the renewable energy focused development
company, is pleased to announce further to its 16 September 2021
announcement regarding the acquisition of a 54.54% interest in the
25 MWe Billingham waste gasification and power plant developed by
EQTEC PLC (AIM: EQT) (the "Transaction"), that the Company is now
in receipt of a number of formal term sheets for the funding of the
Transaction.
The aggregate amount of funding offered to the Company under the
term sheets exceed the total funding requirement of GBP 3 million
for the Transaction. The potential funders and the Company will now
proceed with customary due diligence and approval procedures. The
Company anticipates formal funding agreements to be completed
contemporaneously with the completion of the Transaction.
Louis Coetzee, CEO of KIBO said, "The Company is very pleased
with the strong interest in and rapid progress made thus far in
securing funding for the Transaction."
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
ENDS
For further information please visit www.kibo.energy or
contact:
Louis Coetzee Kibo Energy PLC info@kibo .energy
Chief Executive Officer
River Group
Andreas Lianos JSE Corporate and Designated Adviser +357 99 53 1107
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Hybridan LLP
Claire Noyce Broker +44 (0) 20 3764 2341
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Bhavesh Patel RFC Ambrian Ltd
Stephen Allen Nomad on AIM +44 20 3440 6800
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Isabel de Salis St Brides Partners Ltd info@stbridespartners.co.uk
Oonagh Reidy Investor & Media Relations Adviser
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Johannesburg
23 September 2021
Corporate and Designated Adviser
River Group
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END
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