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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Kibo Energy Plc | LSE:KIBO | London | Ordinary Share | IE00B97C0C31 | ORD EUR0.0001 (CDI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.012 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 1.04M | -9.78M | -0.0022 | -0.05 | 523.31k |
From Jul 2019 to Jul 2024
TIDMKIBO
RNS Number : 4433Q
Kibo Energy PLC
18 October 2019
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")
Dated: 18 October 2019
Kibo Energy PLC ('Kibo' or the 'Company')
Completed Placing
Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce that further to the announcement dated 9 October 2019, it has raised GBP1,990,000 via the issue of 442,222,280 ordinary shares of par value EUR0.001 each ('New Ordinary Shares') through a placing at a price of 0.45 pence per New Ordinary Share (the "Placing Price") (the "Fundraising"). The proceeds from the Placing will be utilised primarily to further develop the Company's diverse energy portfolio and working capital requirements.
Louis Coetzee, CEO of Kibo, commented, "We are pleased to have raised capital during a particularly turbulent time in the global market through new and existing investors including the Directors. With this money, we will be able to continue developing our diverse portfolio of major energy assets towards commercialisation. We look forward to providing updates on progress in this regard in the near future."
Details of the Placing
Kibo has raised gross proceeds of GBP1,990,000 from the Underwriter, third party investors, Directors and Management and other parties arranged by them including Sanderson Capital Partners Ltd ("Sanderson").
Additionally, shares issued in the Placing ("Placing Shares") will have warrants attached (together with the Placing Shares, "Units") with each Unit comprising one Placing Share, one warrant exercisable at 0.8p per share for the period of 18 months from the date of issue and half a warrant exercisable at 1p per share for the period of 36 months from the date of issue.
Details of the shares purchased by Directors and Management are as follows:
Table 1: Directors' & Senior Management's Shareholding Before & After Placing
Hot Features
Premium
BEFORE PLACING AFTER PLACING
Name Position Shares Held % Holding Number of Number of Total Value % Holding
Prior to in Kibo Placing Kibo Shares of Placing in Kibo
Issue of Before Shares Held after Shares After Issue
Placing Issue of Issued Issue of Issued at of Placing
Shares Placing Placing Deemed Shares
Shares Shares Value of
GBP 0.0045
per Kibo
Share
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Christian
Schaffalitzky
& Related Non-Exec
Parties Chairman 2,119,842 0.26 3,885,000 6,004,842 GBP17,483 0.48
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Louis Coetzee
& Related Exec.
Parties Director 8,065,996 1.00 11,440,000 19,505,996 GBP51,480 1.56
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Tinus Maree &
Related
Parties Exec Director 2,934,200 0.36 4,485,600 7,419,800 GBP20,185 0.59
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Andreas Lianos
& Related Non-Exec.
Parties Director 7,588,633 0.94 9,485,000 17,073,633 GBP42,683 1.37
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Noel O'Keeffe
& Related Non-Exec.
Parties Director 3,591,447 0.45 3,445,600 7,037,047 GBP15,505 0.56
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Wenzel Non-Exec
Kerremans Director 376,241 0.05 815,000 1,191,241 GBP3,668 0.10
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Louis
Scheepers &
Related Senior
Parties Management 3,009,914 0.37 7,380,600 10,390,514 GBP33,213 0.83
-------------- ------------ ------------ ------------- ------------ ------------ ------------
Senior
Pieter Krugel Management 0 0.00 12,330,000 12,330,000 GBP55,485 0.99
-------------- ------------
TOTALS 27,686,273 3.44 53,266,800 80,953,073 GBP239,701 6.49
------------
Table 2: Directors' and Senior Management's Warrant Holding Position Before & After Placing
BEFORE AFTER PLACING
PLACING
Warrants Issued Warrants Issued
at 0.8p at 1p
---------------- ------------ ---------------------- ---------------------- -------------
Warrants Number Expiry Number Expiry Total
Held Prior of Placing Date of Placing Date Number
to Issue Warrants Warrants of Warrants
of Placing exercisable exercisable
Shares at 0.8p at 1p
(half
warrants)
------------ ------------- ------- ------------- -------
Name Position
---------------- ------------ ------------- ------- ------------- ------- -------------
Christian
Schaffalitzky
& Related Non-Exec 3 May 3 Nov
Parties Chairman 0 3,885,000 2021 1,942,500 2022 5,827,500
---------------- ------------ ------------- ------- ------------- ------- -------------
Louis Coetzee
& Related 3 May 3 Nov
Parties Exec. Director 0 11,440,000 2021 5,720,000 2022 17,160,000
---------------- ------------ ------------- ------- ------------- ------- -------------
Tinus Maree
& Related 3 May 3 Nov
Parties Exec Director 0 4,485,600 2021 2,242,800 2022 6,728,400
---------------- ------------ ------------- ------- ------------- ------- -------------
Andreas Lianos
& Related Non-Exec. 3 May 3 Nov
Parties Director 0 9,485,000 2021 4,742,500 2022 14,227,500
---------------- ------------ ------------- ------- ------------- ------- -------------
Noel O'Keeffe
& Related Non-Exec. 3 May 3 Nov
Parties Director 0 3,445,600 2021 1,722,800 2022 5,168,400
---------------- ------------ ------------- ------- ------------- ------- -------------
Non-Exec 3 May 3 Nov
Wenzel Kerremans Director 0 815,000 2021 407,500 2022 1,222,500
---------------- ------------ ------------- ------- ------------- ------- -------------
Louis Scheepers
& Related Senior 3 May 3 Nov
Parties Management 0 7,380,600 2021 3,690,300 2022 11,070,900
---------------- ------------ ------------- ------- ------------- ------- -------------
Senior 3 May 3 Nov
Pieter Krugel Management 0 12,330,000 2021 6,165,000 2022 18,495,000
---------------- -------
TOTALS 0 53,266,800 26,633,400 79,900,200
-------
The Directors and Management of the Company shown in the above tables are Persons Discharging Managerial Responsibility ("PDMRs") under the Market Abuse Regulation 2016 ("MAR"). In compliance with MAR and the Company's Share Dealing Code they have submitted dealing request forms to the designated Company executives seeking permission to participate in the Placing and authority has been granted. Dealing notification form will be completed by the PDMRs and submitted to the FCA within 3 days of completion of the Placing in accordance with MAR.
Sanderson has subscribed for 55,555,556 Placing Shares, pursuant to the Placing. Sanderson is a related party of the Company for the purposes of the AIM Rules by virtue of their status as a substantial shareholder, holding 10% or more of the existing Ordinary Shares. The Board of Directors consider, having consulted with the Company's nominated adviser, RFC Ambrian Limited, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.
Application will be made for the New Ordinary Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the New Ordinary Shares is expected to commence on AIM and the JSE on or around 4 November 2019 ('Admission'). Following Admission, the Company will have 1,247,276,078 shares in issue and this figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. Following the Placing the expected changes in the shareholding of the Company's existing Significant Shareholders are shown on Table 3 below.
Table 3: Expected Changes in Significant Shareholders shareholding in Kibo after Placing
AFTER PLACING
Name Number of Placing Shares Number of Kibo Shares Held % Holding in Kibo After
subscribed for after Issue of Placing Issue of Placing Shares
Shares *
---------------------------- --------------------------- ----------------------------
Sanderson Capital Partners
Limited & Related Parties 55,555,556 175,555,556 14.08
---------------------------- --------------------------- ----------------------------
Shumba Energy Limited &
Related Parties 0 128,053,893 10.27
---------------------------- --------------------------- ----------------------------
Yakoub Yakoubov & Related
Parties 3,333,333 36,333,333 2.91
---------------------------- --------------------------- ----------------------------
TOTALS 58,888,889 339,942,782 27.25
---------------------------- --------------------------- ----------------------------
* These figures are calculated based on the most recent shareholding figures available to
the Company.
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
--------------------- --------------------- -------------------------
Jason Robertson +44 (0) 20 7374 2212 First Equity Limited Joint Broker
--------------------- --------------------- -------------------------
Bhavesh Patel/Stephen +44 20 3440 6800 RFC Ambrian Limited NOMAD on AIM
Allen
--------------------- --------------------- -------------------------
Isabel de Salis +44 (0) 20 7236 1177 St Brides Partners Investor and Media
/ Ltd Relations Adviser
Beth Melluish
--------------------- --------------------- -------------------------
Notes
Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance.
Additionally, the Company has a 60% interest in MAST Energy Developments Limited ('MED'), a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market.
Johannesburg
18 October 2019
Corporate and Designated Adviser
River Group
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IOEFFUFIAFUSEES
(END) Dow Jones Newswires
October 18, 2019 11:39 ET (15:39 GMT)
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