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- tion #
| Summary Resolution | Votes For & Discretion | Votes Against | Votes Withheld | |||
| | | Number | % | Number | % | Number | % |
| | | | | | | | |
| 1. | That the Directors be and are hereby generally and unconditionally authorised to exercise all powers of the Company to allot relevant securities. |
789,666,417
| 64.84 | 427,759,127 | 35.12 | 9,014,191 | 0.73 |
| | | | | | | | |
| 2. | That the Directors be and are hereby empowered pursuant to Section 1023(3) of the Companies Act, 2014 to allot equity securities. |
789,666,417
| 64.84 | 427,759,127 | 35.12 | 9,014,191 | 0.73 |
| | | | | | | | |
| 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 |
789,666,417
| 64.84 | 427,759,127 | 35.12 | 9,014,191 | 0.73 |
| | | | | | | | |
| 7. | 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 |
| | | | | | | | |
| 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 or contact:
| Louis Coetzee | 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 | Lifa Communications | Investor and Media Relations Consultant |
Johannesburg
2 June 2023
Corporate and Designated Adviser
River Group
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