REG - Kibo Energy PLC - Kibo Subsidiary Announces TR-1 Notification

Kibo EnergyAnnouncement

20/02/2024 13:00

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RNS Number : 8004D  Kibo Energy PLC  20 February 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: 20 February 2024

 

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

 

Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings

 

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused
development company, announces a TR-1 Notification by its subsidiary Mast
Energy Developments PLC ('MED'), a UK-based multi-asset owner, developer and
operator in the rapidly growing flexible power market.

 

The proceeds from the disposal of the MED shares amounting to approximately
£20,860 have been used to reduce the outstanding balance on the Company's
reprofiled bridge loan facility with RiverFort Global Opportunities PCC Ltd.
(refer Kibo RNS announcements of 11 and 26 April 2023).

 

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

 

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

Dated: 20 February 2024

 

TR-1: Standard form for notification of major holdings

 

 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
 FCA in Microsoft Word format if possible)

 1a. Identity of the issuer or the underlying issuer of existing shares to                                                                                                                                    Mast Energy Developments PLC
 which voting rights are attached:
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X"
 if appropriate)

 2. Reason for the notification (please mark the appropriate box or boxes with
 an "X")
 An acquisition or disposal of voting rights                                                                                                                                                                                                                                 X
 An acquisition or disposal of financial instruments
 An event changing the breakdown of voting rights
 Other (please specify):
 3. Details of person subject to the notification obligation
 Name                                                                                                                                                                                                         Kibo Mining (Cyprus) Limited
 City and country of registered office (if applicable)                                                                                                                                                        Limassol Cyprus
 4. Full name of shareholder(s) (if different from 3.)
 Name
 City and country of registered office (if applicable)
 5. Date on which the threshold was crossed or reached:                                                                                                                                                       19/02/24
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                                                                               19/02/24
 7. Total positions of person(s) subject to the notification obligation
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments (total of 8.B 1 + 8.B 2)  Total of both in % (8.A + 8.B)  Total number of voting rights held in issuer (8.A + 8.B)
 Resulting situation on the date on which threshold was crossed or reached  35.80%                                                                                                                            35.80%                          94,461,746
 Position of previous notification (if                                      37.70%                                                                                                                            37.70%

 applicable)

 

 8. Notified details of the resulting situation on the date on which the
 threshold was crossed or reached
 A: Voting rights attached to shares
 Class/type of shares                                            Number of voting rights                                                                     % of voting rights

 ISIN code (if possible)
                                                                 Direct                    Indirect                                                          Direct                                      Indirect

                                                                 (DTR5.1)                   (DTR5.2.1)                                                       (DTR5.1)                                    (DTR5.2.1)
 GB00BMBSCV12                                                    94,461,746                                                                                  35.80%

 SUBTOTAL 8. A                                                   94,461,746

 B 1: Financial Instruments according to DTR5.3.1R (1) (a)
 Type of financial instrument                          Expiration date     Exercise/ Conversion Period                 Number of voting rights that may be acquired if the instrument is                 % of voting rights
                                                                                                                       exercised/converted.

                                                                           SUBTOTAL 8. B 1

 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
 (1) (b)
 Type of financial instrument  Expiration date                             Exercise/ Conversion Period     Physical or cash                                                     Number of voting rights  % of voting rights

                                                                                                           Settlement

                                                                                                           SUBTOTAL 8.B.2

 

 9. Information in relation to the person subject to the notification
 obligation (please mark the

 applicable box with an "X")
 Person subject to the notification obligation is not controlled by any natural
 person or legal entity and does not control any other undertaking(s) holding
 directly or indirectly an interest in the (underlying) issuer
 Full chain of controlled undertakings through which the voting rights and/or                                                                                                                                               X
 the

financial instruments are effectively held starting with the ultimate
 controlling natural person or legal entity (please add additional rows as
 necessary)
 Name                          % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher  Total of both if it equals or is higher than the notifiable threshold
                                                                                                           than the notifiable threshold
 Kibo Energy PLC
 Kibo Mining (Cyprus) Limited  35.80%                                                                                                                                                  35.80%

 10. In case of proxy voting, please identify:
 Name of the proxy holder
 The number and % of voting rights held
 The date until which the voting rights will be held

 11. Additional information

 

 Place of completion  Limassol, Cyprus
 Date of completion   19/02/24

 

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     +44 207 628 3396                            Beaumont Cornish Limited    Nominated Adviser

 Roland Cornish
 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

20 February 2024

Corporate and Designated Adviser

River Group

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