REG - Kibo Energy PLC - Kibo Subsidiary Announces Business Update

Kibo EnergyAnnouncement

23/05/2024 16:00

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RNS Number : 7189P  Kibo Energy PLC  23 May 2024

Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

LEI Code: 635400WTCRIZB6TVGZ23

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B97C0C31

('Kibo' or 'the Company')

 

Dated: 21 May 2024

 

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

 

Kibo Subsidiary Announces Business Update

 

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused
development company, announces a business update by its subsidiary Mast Energy
Developments PLC ('MED'), a UK-based multi-asset owner, developer and operator
in the rapidly growing flexible power market.

 

Further details can be found in the full  MED RNS Announcement, which is
available below and at med.energy (https://med.energy/?page_id=3140) .

 

-------------------------

Dated: 23 May 2024

 

Mast Energy Developments PLC ('MED' or 'the Company')

 

Capitalisation of Loan Update

 

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and
operator in the rapidly growing flexible power market, is pleased to announce
that further to its RNS announcement of 7 May 2024, the 162,500,000 new MED
ordinary shares of 0.1p (the "Subscription Shares") at a conversion price of
0.20p per share will be allotted to Mr. Pieter Krügel, a director of the
Company (the "Conversion") tomorrow, 24 May 2024 and admitted to listing on
the London Stock Exchange for which approval has been granted (the
"Admission").

 

Total Voting Rights

 

Following allotment of the Subscription Shares and Admission, the Company will
have 426,354,067 ordinary shares of £0.001 par value in issue, each with one
vote per share (and none of which are held in treasury). The total number of
voting rights in the Company is therefore 426,354,067. This figure may be used
by shareholders in the Company as the denominator for calculations to
determine if they have a notifiable interest in the share capital of the
Company under the Disclosure Guidance and Transparency Rules, or if such
interest has changed. For further information, please visit www.med.energy
(http://www.med.energy) .

 

ENDS

 

This announcement contains inside information for the purposes of the UK
version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ('UK MAR'). Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

For further information please visit www.med.energy (http://www.med.energy/)
or contact:

 Pieter Krügel   info@med.energy (mailto:info@med.energy)  Mast Energy Developments PLC  CEO
 Jon Belliss     +44 (0)20 7399 9425                       Novum Securities              Corporate Broker

 

_________________________

 

**ENDS**

 

For further information please visit www.kibo.energy (http://www.kibo.energy/)
or contact:

 

 Louis Coetzee                info@kibo.energy (mailto:info@kibo.energy)  Kibo Energy PLC             Chief Executive Officer
 James Biddle Roland Cornish  +44 207 628 3396                            Beaumont Cornish Limited    Nominated Adviser
 Claire Noyce                 +44 20 3764 2341                            Hybridan LLP                Joint Broker
 Damon Heath                  +44 207 186 9952                            Shard Capital Partners LLP  Joint Broker

 

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Johannesburg

23 May 2024

Corporate and Designated Adviser

River Group

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