Kibo Energy PLC Result of AGM (0758W)

TIDMKIBO

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        % 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               To receive, consider 
                and adopt the accounts 
                for the year ended 31 
                December 2022 and the 
                Directors' and Auditor's 
     1.         Reports thereon.                  807,317,393     99.91      761,442      0.09     5,150,000     n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               To authorise the Directors 
                to fix the remuneration 
     2.         of the Auditors                  805,897,574     99.73     2,181,261     0.27     5,150,000     n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               To re-elect Noel O'Keeffe 
     3.         as a Director.                   737,318,477     91.25    70,660,358     8.75     5,250,000     n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               To re-elect Ajay Saldanha 
     4.         as a Director.                   615,832,241     76.22    192,146,594   23.78     5,250,000     n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               That the Directors be 
                and are hereby generally 
                and unconditionally 
                authorised to execute 
                all powers of the Company 
      5.        to allot relevant securities.    527,220,477     64.84    285,858,358   35.16      150,000      n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               That the Directors be 
                and are hereby empowered 
                pursuant to Section 
                1023(3) of the Companies 
                Act, 2014 to allot equity 
      6.        securities.                      527,220,477     64.84    285,858,358   35.16      150,000      n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               That the Memorandum 
                of Association of the 
      7.        Company be updated               527,220,477     64.84    285,858,358   35.16      150,000      n/a 
              -------------------------------  --------------  --------  ------------  -------  ------------  ------ 
 
               That the Articles of 
                Association of the Company 
      8.        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 or contact:

 
 Louis Coetzee     [e-mail]                Kibo Energy PLC          Chief Executive 
                                                                             Officer 
 James Biddle      [phone]                Beaumont Cornish         Nominated Adviser 
  Roland Cornish                                    Limited 
                  ------------------------------  -----------------------  ------------------ 
 Claire Noyce      [phone]                Hybridan LLP             Joint Broker 
                  ------------------------------  -----------------------  ------------------ 
 Damon Heath       [phone]                Shard Capital Partners   Joint Broker 
                                                    LLP 
                  ------------------------------  -----------------------  ------------------ 
 Zainab Slemang    [e-mail]   Lifa Communications      Investor and 
  van Rijmenant                                                              Media Relations 
                                                                             Consultant 
                  ------------------------------  -----------------------  ------------------ 
 

Johannesburg

7 December 2023

Corporate and Designated Adviser

River Group

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December 07, 2023 09:15 ET (14:15 GMT)