Kibo Energy PLC GBP860,000 share subscription with Private Investors (1321R)
November 03 2021 - 3:00AM
UK Regulatory
TIDMKIBO
RNS Number : 1321R
Kibo Energy PLC
03 November 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
SIN: IE00B97C0C31
("Kibo" or "the Company")
3 November 2021
Kibo Energy PLC ('Kibo' or the 'Company')
Share Subscription for GBP860,000 Arranged with Private
Investors
Kibo Energy PLC (AIM: KIBO; AltX:KBO), the renewable energy
focused development company, is pleased to announce that it has
successfully raised total gross proceeds amounting to GBP 860,000
(the "Subscription") via the issue of 430,000,000 ordinary shares
of par value EUR0.001 each (the "Subscription Shares") at an issue
price of 0.2 pence per share, with private investors (the
"Investors"). Each share has one warrant attached which is
exercisable at 0.4 pence per share (the "Exercise Price") and with
an exercise period of 24 months.
Proceeds from the Subscription will be utilized primarily to
further develop the Company's energy portfolio most notably the
Company's waste to energy projects and for working capital
requirements.
Details of the Placing
Kibo has raised gross proceeds of GBP 860,000 via a private
subscription with Investors. Each Subscription Share issued will
have one warrant attached, convertible to one ordinary share at the
Exercise Price of 0.4 pence per share, for the period of 24 months
from the subscription date. If the daily Kibo VWAP on AIM for a
period of 20 consecutive trading days should exceed 0.6 pence, the
Company will have the right at any time thereafter to require the
Investors to exercise all their warrants at the Exercise Price upon
receiving 14 days written notice. Failing to do this, the warrants
will expire and will be no longer exercisable.
Application will be made for the Subscription Shares to be
admitted to trading on AIM and the JSE AltX markets. Trading in the
Subscription Shares is expected to commence on AIM and the JSE on
or around 10 November 2021 ('Admission'). Following Admission, the
Company will have 2,905,348,737 shares in issue and this 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.
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
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 2341 Hybridan LLP Broker
------------------------- ------------------ ----------------------------
Bhavesh Patel/ +44 20 3440 6800 RFC Ambrian NOMAD on AIM
Stephen Allen Ltd
------------------------- ------------------ ----------------------------
Isabel de info@stbridespartners.com St Brides Partners Investor and Media Relations
Salis/ Oonagh Adviser
Reidy
------------------------- ------------------ ----------------------------
Notes
Kibo Energy PLC is a multi-asset, UK & Africa focused,
energy company positioned to participate in the renewable energy
markets. Its main focus is in the UK and South Africa in the
developing waste-to-energy market whilst elsewhere in Africa it
seeks to address the acute power deficit on the continent through
its interest in three coal-fueled power projects optimized to use
the latest green-house gas emission reducing technology in
combination with co-located renewable energy generation.
Additionally, the Company has a 55.42% interest in MAST Energy
Developments Plc ('MED') an LSE listed UK company targeting the
development and operation of flexible power plants to service the
UK Reserve Power generation market.
Johannesburg
03 November 2021
Corporate and Designated Adviser
River Group
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END
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