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Pin to quick picksKibo Energy Regulatory News (KIBO)

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Issue of Conversion Shares

2 Sep 2020 13:35

RNS Number : 8491X
Kibo Energy PLC
02 September 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")

 

Dated: 02 September 2020

 

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

Issue of Conversion Shares

 

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company has today issued 19,173,412 shares (the "Conversion Shares") to a lender who has elected to convert funds advanced as part of the first tranche of funding of £300,000 ("Facility Drawdown") as permitted per the terms of the funding facility for up to £1 million announced on the 25 June 2020 (the "Facility"). The Facility Drawdown was announced by the Company on 5 August 2020. The Conversion Shares were issued at a price of £0.002347 each being the 5-day VWAP less 10% at 2 September 2020 representing re-payment by the Company of a further £45,000 of the Facility Drawdown. Together with the conversion shares issued on 24 August 2020, the Company has now converted £150,000 of the Facility Drawdown to Kibo shares.

 

Total Voting Rights

Application will be made for the Conversion Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Conversion Shares is expected to commence on AIM and the JSE on or around 8 September 2020 ('Admission'). Following Admission, the Company will have 1,411,975,889 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.

 

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 PLC

Chief Executive Officer

Andreas Lianos

+27 (0) 83 4408365

River Group

Corporate and JSE Designated Adviser

Philip Adler

+44 (0) 20 7392 1494

ETX Capital Limited

Joint Broker

Bhavesh Patel /

Stephen Allen

+44 20 3440 6800

RFC Ambrian

Limited

NOMAD on AIM

Isabel de Salis /

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

02 September 2020

Corporate and Designated Adviser

River Group

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CONUUUURRVUKRAR
Date   Source Headline
5th Mar 20247:00 amRNSIssue of Shares to Service Provider
4th Mar 202410:45 amRNSKibo Subsidiary Announces TR-1 Notification
28th Feb 20247:00 amRNSMAST New Funding Partner & Proventure Cancellation
21st Feb 20242:46 pmRNSHolding(s) in Company
20th Feb 20241:00 pmRNSKibo Subsidiary Announces TR-1 Notification
9th Feb 202412:45 pmRNSResults of Extraordinary General Meeting
5th Feb 20241:55 pmRNSKibo Subsidiary MAST Announces TR-1 Notification
31st Jan 202410:48 amRNSDirector/PDMR Shareholding
24th Jan 20243:45 pmRNSKibo Subsidiary MAST Announces TR-1 Notification
19th Jan 20241:52 pmRNSPDMR Share Sale
18th Jan 20247:00 amRNSNotice of Extraordinary General Meeting (“EGM”)
16th Jan 202410:50 amRNSCorrection on MED Shareholding
16th Jan 20247:00 amRNSKibo Strategy Update
11th Jan 20247:00 amRNSConversion, Equity Issue, TVR & Board Changes
8th Jan 20247:00 amRNSKibo Subsidiary Announces an Update on JVA
2nd Jan 20247:00 amRNSKibo Subsidiary - Further Update of Payment to JVA
22nd Dec 20237:00 amRNSKibo Subsidiary Announces JVA Completion Update
19th Dec 20232:00 pmRNSPDMR Share Sale
15th Dec 20237:00 amRNSSubsidiary Director Loan & PMDR Share Sale
11th Dec 20238:21 amRNSKibo Subsidiary Update JVA Completion Announcement
11th Dec 20237:00 amRNSMAST: Further Update to the Completion of JVA
7th Dec 20232:15 pmRNSResult of AGM
1st Dec 20237:00 amRNSKibo Subsidiary Announces Update of JVA
15th Nov 20237:00 amRNSNotice of AGM
13th Nov 20237:00 amRNSKibo UK Subsidiary JVA Interim Payment Update
26th Oct 20237:00 amRNSChange of Holding in Mast Energy Developments PLC
23rd Oct 20237:00 amRNSKibo Subsidiary - Update on the Completion of JVA
5th Oct 20237:00 amRNSPartial Settlement of Outstanding Shareholder Loan
4th Oct 20237:00 amRNSSale of Coal Interest in Botswana Power Project
29th Sep 20237:00 amRNSUnaudited Interim Results
22nd Sep 20237:00 amRNSKibo Subsidiary Announces Update on JVA Completion
1st Sep 20237:00 amRNSKibo Subsidiary Announces Further Update on JVA
25th Aug 20237:00 amRNSKibo Subsidiary MED Unaudited Interim Results
16th Aug 202310:10 amRNSClarification on Inaccurate Moneyweb Article
7th Aug 202310:25 amRNSDirector/PDMR Shareholding
4th Aug 20237:00 amRNSKibo Subsidiary Announces Update on JV Completion
31st Jul 20237:00 amRNSUpdate on MED Definitive and Binding JVA
24th Jul 20234:40 pmRNSTR-1: Notification of major holdings
12th Jul 20231:15 pmRNSKibo Subsidiary Announces Definitive & Binding JVA
3rd Jul 20237:00 amRNSOperational Update: Q2 2023
29th Jun 20237:00 amRNSAnnual Financial Report
16th Jun 20233:51 pmRNSHolding(s) in Company
2nd Jun 20232:30 pmRNSResults of EGM
26th May 202312:15 pmRNSWarrant Exercise
23rd May 20232:30 pmRNSKibo Subsidiary MED Issue of Shares
22nd May 20233:00 pmRNSKibo Subsidiary Issue of Shares
18th May 20237:00 amRNSMED Update, JV and Reprofiling of Loan Facilities
18th May 20237:00 amRNSMbeya Power Update
12th May 202311:45 amRNSTR-1
11th May 20237:00 amRNSNotice of Extraordinary General Meeting

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