REG - Kibo Energy PLC - Results of EGM

Kibo EnergyAnnouncement

02/06/2023 14:30

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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     %

 1.       That the Directors be and are hereby generally and unconditionally authorised                64.84     427,759,127  35.12     9,014,191  0.73
          to exercise all powers of the Company to allot relevant securities.

                                                                                         789,666,417

 2.       That the Directors be and are hereby empowered pursuant to Section 1023(3) of                64.84     427,759,127  35.12     9,014,191  0.73
          the Companies Act, 2014 to allot equity securities.

                                                                                         789,666,417

 3.       To subdivide the share capital of the Company                                  789,642,742   64.84     427,759,127  35.12     9,037,866  0.74

 4.       To amend the share capital clause of the Memorandum of Association             789,642,742   64.84     427,759,127    35.12   9,037,866  0.74

 5.       To amend the share capital clause of the Articles of Association               789,642,742   64.84     427,759,127  35.12     9,037,866  0.74

 6.       To increase the authorised share capital of the Company                                      64.84     427,759,127  35.12     9,014,191  0.73

                                                                                         789,666,417

 7.       To amend the share capital clause of the Memorandum of Association                           64.84     427,759,127  35.12     9,037,866  0.74

                                                                                         789,642,742

 8.       To amend the share capital clause of the Articles 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 €0.001 per share to
€0.0001 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 (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
 Zainab Slemang van Rijmenant  zainab@lifacommunications.com (mailto:zainab@lifacommunications.com)  Lifa Communications         Investor and Media Relations Consultant

 

Johannesburg

2 June 2023

Corporate and Designated Adviser

River Group

 

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