Last checked at 14 Dec 2020 12:40
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")
14 December 2020
Kibo Energy PLC ('Kibo' or the 'Company')Results of AGM
Kibo Energy PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, announces the results of voting at an Annual General Meeting ("AGM") held today. Proxies were received by shareholders holding approximately 27% of the shares in Kibo (2,221,640,835 shares issued and outstanding). All resolutions were carried.
The proxy voting details at the AGM are shown on the table below: -
Res. #
| Summary Resolution | Votes For & Discretion | Votes Against | Votes Withheld | ||||
No. | % | No. | % | No. | % |
| ||
| ||||||||
1. | To receive, consider and adopt the accounts for the year ended 31 December 2019 and the Directors and Auditors Reports thereon. | 599,763,287 | 99.47 | 3,167,371 | 0.53 | 0 | 0 |
|
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2. | To authorise the Directors to fix the remuneration of the auditors. | 599,743,109 | 99.47 |
3,187,549
| 0.53 | 0 | 0 |
|
| ||||||||
3. | To re-elect Mr Louis Coetzee as a Director | 496,715,073 | 82.38 | 106,215,585 | 17.62 | 0 | 0 |
|
|
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4. | To re-elect Mr Andreas Lianos as a Director. | 496,725,073 | 82.39 | 106,205,585 | 17.61 | 0 | 0 |
|
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5. | To re-elect Mr Christiaan Schutte as a Director. | 564,865,073 | 93.69 | 38,065,585 | 6.31 | 0 | 0 |
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6. | That the Directors be and are hereby generally and unconditionally authorised to exercise all powers of the Company to allot relevant securities. | 599,178,893 | 99.38 | 3,751,765 | 0.62 | 0 | 0 |
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7. | That the Directors be and are hereby empowered pursuant to Section 1023(3) of the Companies Act, 2014 to allot equity securities. | 599,178,893 | 99.38 | 3,751,765 | 0.62 | 0 | 0 |
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**ENDS**
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 | JSE Corporate and Designated Adviser |
Thomas Smith | +44 (0) 20 7392 1494 | ETX Capital Limited | 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 and UK 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-fueled 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 Projects Limited ('MED') (Previously Mast Energy Developments LTD), a private UK registered company targeting the development and operation of flexible power plants to service the UK Reserve Power generation market.
Johannesburg
14 December 2020
Corporate and Designated Adviser
River Group