REG - Kibo Energy PLC - Result of AGM

Kibo EnergyAnnouncement

07/12/2023 14:15

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RNS Number : 0758W  Kibo Energy PLC  07 December 2023

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")

 

7 December 2023

 

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

Results of Annual General Meeting

 

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused
development company, announces the results of voting at its Annual General
Meeting ("AGM") held today. Proxies were received by shareholders holding
21.51% of the shares in Kibo (3,779,866,683 ordinary shares issued and
outstanding).

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

 Resolu-tion #  Summary Resolution                                                             Votes For &             Votes               *Votes

                                                                                               Discretion              Against             Withheld
                                                                                               Number        %         Number       %      Number      %

 1.             To receive, consider and adopt the accounts for the year ended 31 December
                2022 and the Directors' and Auditor's Reports thereon.

                                                                                               807,317,393   99.91     761,442      0.09   5,150,000   n/a

 2.             To authorise the Directors to fix the remuneration of the Auditors             805,897,574   99.73     2,181,261    0.27   5,150,000   n/a

 3.             To re-elect Noel O'Keeffe as a Director.                                       737,318,477   91.25     70,660,358   8.75   5,250,000   n/a

 4.             To re-elect Ajay Saldanha as a Director.                                       615,832,241   76.22     192,146,594  23.78  5,250,000   n/a

 5.             That the Directors be and are hereby generally and unconditionally authorised  527,220,477   64.84     285,858,358  35.16  150,000     n/a
                to execute all powers of the Company to allot relevant securities.

 6.             That the Directors be and are hereby empowered pursuant to Section 1023(3) of  527,220,477   64.84     285,858,358  35.16  150,000     n/a
                the Companies Act, 2014 to allot equity securities.

 7.             That the Memorandum of Association of the Company be updated                   527,220,477   64.84     285,858,358  35.16  150,000     n/a

 8.             That the Articles of Association of the Company be updated.                    527,220,477   64.84     285,858,358  35.16  150,000     n/a
 *A vote withheld is not a vote in law and is not counted in the calculation of
 the proportion of votes "For" and "Against"

 

 

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

 

 Shareholders should note that Special Resolutions 7 & 8 on the Notice of
AGM were matters for which approval was sought to enable the Company to update
the Company's Articles & Memorandum of Association with the Companies
Registration Office in Ireland following a reduction in par value of the
Company's shares and an increase in the authorised capital of the Company
previously approved at a Company's EGM held on 2 June 2023 last ("EGM"). The
failure to carry these two resolutions means that the Company's Memo &
Articles of Association cannot be updated at the Companies Registration Office
to reflect the reduction in par value and the increase in the authorised
capital approved at the EGM and which remain unaffected by the voting results
today.

 

**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
 Zainab Slemang van Rijmenant  zainab@lifacommunications.com (mailto:zainab@lifacommunications.com)  Lifa Communications         Investor and Media Relations Consultant

 

Johannesburg

7 December 2023

Corporate and Designated Adviser

River Group

 

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