KIBO Kibo Energy Plc

TIDMKIBO

RNS Number : 8271Y

Kibo Energy PLC

08 September 2022

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: 08 September 2022

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

Convertible Instrument Update

Kibo Energy PLC (AIM: KIBO; AltX: KBO) ('Kibo' or the 'Company'), the renewable energy focused development company, provides updated disclosure in relation to the announcement made on 7 January 2022 on the settlement of outstanding fees to directors and management for the period March 2019 to June 2020.

Taken in aggregate, the Convertible Instrument issued to directors and former directors (who were on the board of the Company within 12 months preceding the issue of the Convertible Instrument), is considered to be a related party transaction in accordance with the AIM Rules for Companies.

The director who was not a party to the Convertible Instrument, having consulted with RFC Ambrian Limited, the Company's Nominated Adviser, considers that the issue of the Convertible Instrument is fair and reasonable insofar as the Company's shareholders are concerned.

The interest of each Director and Former Director in the transaction is noted below:

 
 Director                                       Convertible Instrument 
                                                          Amount (GBP) 
 Christian Schaffalitzky (Chairman)                             29,752 
                                               ----------------------- 
 Louis Coetzee (Director)                                      218,904 
                                               ----------------------- 
 Noel O'Keefe (Non-Executive Director)                          64,716 
                                               ----------------------- 
 Andreas Lianos (Non-Executive Director)                        38,782 
                                               ----------------------- 
 Lukas Maree (Former Non-Executive Director)                    76,343 
                                               ----------------------- 
 Wenzel Kerremans (Former Non-Executive 
  Director)                                                     14,839 
                                               ----------------------- 
 Louis Scheepers (Kibo subsidiary director)                    146,506 
                                               ----------------------- 
 Pieter Krugel (Kibo subsidiary director)                       82,981 
                                               ----------------------- 
 

All capitalized terms used in the announcement will have the same meaning as the announcement of 7 January 2022 unless otherwise stated.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 and is announced in accordance with the Company's obligations under Article 17 of the specified Regulation.

For further information please visit www.kibo.energy or contact:

 
 Louis Coetzee    info@kibo.energy                  Kibo Energy PLC          Chief Executive Officer 
 Andreas Lianos   +357 99 53 1107                   River Group              JSE Corporate and Designated 
                                                                              Adviser 
                 --------------------------------  -----------------------  ----------------------------- 
 Claire Noyce     +44 (0) 20 3764                   Hybridan LLP             Joint Broker 
                   2341 
                 --------------------------------  -----------------------  ----------------------------- 
 Damon Heath      +44 207 186 9952                  Shard Capital Partners   Joint Broker 
                                                     LLP 
                 --------------------------------  -----------------------  ----------------------------- 
 Bhavesh Patel    +44 20 3440 6800                  RFC Ambrian Ltd          NOMAD on AIM 
  / Stephen 
  Allen 
                 --------------------------------  -----------------------  ----------------------------- 
 Zainab Slemang   zainab@lifacommunications.co.za   Lifa Communications      Investor and Media Relations 
  van Rijmenant                                                               Consultant 
                 --------------------------------  -----------------------  ----------------------------- 
 

Johannesburg

08 September 2022

Corporate and Designated Adviser

River Group

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END

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September 08, 2022 10:20 ET (14:20 GMT)

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