Share Name Share Symbol Market Type
Kibo Energy Plc Ord Eur0.015 NEX:KIBO.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.037p +4.93% 0.787p 0.70p 0.80p 0.787p 0.787p 0.787p 560,784 09:01:49

Kibo Energy PLC Update on MCPP in Tanzania

14/02/2019 10:15am

UK Regulatory (RNS & others)

Kibo Energy Plc Ord Eur0.015 (NEX:KIBO.GB)
Historical Stock Chart

2 Months : From Jan 2019 to Mar 2019

Click Here for more Kibo Energy Plc Ord Eur0.015 Charts.


RNS Number : 0284Q

Kibo Energy PLC

14 February 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: 14 February 2019

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

Update on MCPP in Tanzania

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company, has today received written notice from the Tanzania Electricity Supply Company ("TANESCO"), informing the Company, without providing reasons or explanation, that it did not qualify to compete in the next stage of the bidding process under TENDER No. PA/001/2018-19/HQ/N/033. TANESCO announced the tender during Q3 2018 and called for tender qualification applications by interested parties to develop some of the planned Coal Power Projects with a total capacity of 600MW (see RNS' dated 18 September 2018, 26 September 2018, 07 November 2018 and 07 December 2018 respectively).

Louis Coetzee, CEO of Kibo, said, "TANESCO did not supply the Company with ANY reasons / explanation for its decision in their notification letter. The Company is currently seeking very urgent clarification and explanation from TANESCO in this regard, whereafter the Company will consider its next course of action. The Company will provide the market with a further update as soon as more information becomes available."


This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

For further information please visit or contact:

 Louis Coetzee     Kibo Energy PLC          Chief Executive Officer 
 Andreas Lianos    +27 (0) 83 4408365   River Group              Corporate and Designated 
                                                                  Adviser on JSE 
                  -------------------  -----------------------  ------------------------- 
 Ben Tadd /Tom     +44 (0) 20 3700      SVS Securities Limited   Joint Broker 
  Curran            0093 
                  -------------------  -----------------------  ------------------------- 
 Jason Robertson    +44 (0)20 7374      First Equity Limited     Joint Broker 
                  -------------------  -----------------------  ------------------------- 
 Andrew Thomson    +61 8 9480 2500      RFC Ambrian Limited      NOMAD on AIM 
                  -------------------  -----------------------  ------------------------- 
 Isabel de Salis   +44 (0) 20 7236      St Brides Partners       Investor and Media 
  /                 1177                 Ltd                      Relations Adviser 
  Gaby Jenner 
                  -------------------  -----------------------  ------------------------- 

Notes to editors

Kibo Energy PLC is a multi-asset, Africa focussed, 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 will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.

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.


14 February 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 or visit



(END) Dow Jones Newswires

February 14, 2019 05:15 ET (10:15 GMT)

1 Year Kibo Energy Plc Ord Eur0.015 Chart

1 Year Kibo Energy Plc Ord Eur0.015 Chart

1 Month Kibo Energy Plc Ord Eur0.015 Chart

1 Month Kibo Energy Plc Ord Eur0.015 Chart
Your Recent History
Kibo Energ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190320 15:06:31