TIDMKIBO

RNS Number : 5378B

Kibo Energy PLC

02 June 2023

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")

2 June 2023

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

Results of EGM and Reduction in Par Value of Ordinary Shares

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the results of voting at an Extraordinary General Meeting ("EGM") held today. Proxies were received by shareholders holding 32.46% of the shares in Kibo (3,779,866,683 ordinary shares issued and outstanding).

The proxy voting results at the EGM are shown in the table below: -

 
 Resolu-          Summary Resolution               Votes For &                Votes               Votes 
   tion                                             Discretion               Against             Withheld 
    # 
                                                  Number         %       Number        %      Number      % 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
           That the Directors be 
            and are hereby generally 
            and unconditionally authorised 
            to exercise all powers 
            of the Company to allot 
   1.       relevant securities.                 789,666,417   64.84   427,759,127   35.12   9,014,191   0.73 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
           That the Directors be 
            and are hereby empowered 
            pursuant to Section 1023(3) 
            of the Companies Act, 
   2.       2014 to allot equity securities.     789,666,417   64.84   427,759,127   35.12   9,014,191   0.73 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
           To subdivide the share 
   3.       capital of the Company              789,642,742    64.84   427,759,127   35.12   9,037,866   0.74 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
          To amend the share capital 
           clause of the Memorandum 
    4.     of Association                      789,642,742    64.84   427,759,127    35.12  9,037,866   0.74 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
          To amend the share capital 
           clause of the Articles 
    5.     of Association                      789,642,742    64.84   427,759,127   35.12   9,037,866   0.74 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
          To increase the authorised 
    6.     share capital of the Company          789,666,417  64.84   427,759,127   35.12   9,014,191   0.73 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
          To amend the share capital 
           clause of the Memorandum 
    7.     of Association                        789,642,742  64.84   427,759,127   35.12   9,037,866   0.74 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 
          To amend the share capital 
           clause of the Articles 
    8.     of Association                      789,640,742    64.84   427,768,138   35.12   9,028,625   0.74 
          ----------------------------------  --------------  ------  ------------  ------  ----------  ----- 
 

The Ordinary Resolutions 1, 3 and 6 were carried as their vote exceeded the required threshold of 50% of proxies cast, voting in favour. The Special Resolutions, 2, 4, 5,7 and 8 were not carried as they did not reach the minimum threshold of 75% of proxies cast, voting in favour.

Following the approval of Ordinary Resolutions 1, 3, & 6 the nominal value of the Company's ordinary shares has been reduced from EUR0.001 per share to EUR0.0001 per share. Trading in the newly denominated shares will take effect from the opening of markets on the 6 June 2023 with no change in the ISIN or SEDOL numbers. Replacement share certificates showing the new nominal value of the shares will be posted to those shareholders already holding Kibo shares in certificated form by no later than the 12 June 2023. South African shareholders who hold Kibo shares in certificated form and whose share are listed on the JSE should complete the Form of Surrender and Transfer that they have received with the Company's Notice of Extraordinary General Meeting and return it with their existing share certificates and/or other documents of title to the Company's South African Registrar, Link Market Services (Proprietary) South Africa in order to receive replacement share certificates/other documents of title.

**ENDS**

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

 
 Louis Coetzee     info@kibo.energy                Kibo Energy PLC       Chief Executive 
                                                                          Officer 
 James Biddle      +44 207 628 3396                Beaumont Cornish      Nominated Adviser 
  Roland Cornish                                    Limited 
                  ------------------------------  --------------------  ------------------ 
 Claire Noyce      +44 20 3764 2341                Hybridan LLP          Joint Broker 
                  ------------------------------  --------------------  ------------------ 
 Damon Heath       +44 207 186 9952                Shard Capital         Joint Broker 
                                                    Partners LLP 
                  ------------------------------  --------------------  ------------------ 
 Zainab Slemang    zainab@lifacommunications.com   Lifa Communications   Investor and 
  van Rijmenant                                                           Media Relations 
                                                                          Consultant 
                  ------------------------------  --------------------  ------------------ 
 

Johannesburg

2 June 2023

Corporate and Designated Adviser

River Group

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END

ROMEADKAEFSDEFA

(END) Dow Jones Newswires

June 02, 2023 09:30 ET (13:30 GMT)

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