Kibo Energy PLC Change of Auditors (0039F)

TIDMKIBO

RNS Number : 0039F

Kibo Energy PLC

04 March 2020

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: 04 March 2020

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

Change of Auditors

Kibo Energy PLC, the multi-asset, Africa focused, energy company, announces that it has appointed Crowe Ireland as its new statutory external auditors of the Company with immediate effect. Crowe Ireland is replacing Crowe UK LLP ("Crowe UK") who has served as company auditors since 2018.

Crowe Ireland and Crowe UK are both member firms of the Crowe International network of firms. Crowe UK resigned as the statutory external auditor of the Company following the exit of the United Kingdom from the European Union on 31 January 2020 and subsequently resulting in Crowe UK not being able to sign off on Irish registered companies.

Louis Coetzee, CEO of Kibo said: "We are very pleased with the appointment of Crowe Ireland as company auditors. On behalf of the Kibo Board, I would also like to thank Crowe UK who has served the Company during the last 2 years."

**ENDS**

For further information please visit www.kibo.energy or contact:

 
 Louis Coetzee      info@kibo .energy    Kibo Energy PLC        Chief Executive Officer 
 Andreas Lianos     [phone]   River Group            Corporate and Designated 
                                                                 Adviser on JSE 
                   -------------------  ---------------------  ------------------------- 
Jason Robertson    [phone]       First Equity Limited   Joint Broker 
                    2212 
                   -------------------  ---------------------  ------------------------- 
Philip Adler       [phone]       ETX Capital Limited    Joint Broker 
                    1494 
                   -------------------  ---------------------  ------------------------- 
 Bhavesh Patel      [phone]     RFC Ambrian Limited    NOMAD on AIM 
  / Stephen Allen 
                   -------------------  ---------------------  ------------------------- 
 Isabel de Salis    [phone]      St Brides Partners     Investor and Media 
  /                  1177                 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 UK Reserve Power generation market.

Johannesburg

04 March 2020

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 [e-mail] or visit www.rns.com.

END

APPFLFSLVTISIII

(END) Dow Jones Newswires

March 04, 2020 06:50 ET (11:50 GMT)