Kibo Mining Plc Result of AGM (1612W)

TIDMKIBO

RNS Number : 1612W

Kibo Mining Plc

30 July 2018

Kibo Mining 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")

30 July 2018

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

Results of AGM and Repositioning

Kibo Mining PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that all resolutions were duly passed at its Annual General Meeting ("AGM") held today. The AGM was attended in person and by proxy by shareholders holding approximately 38% of the shares in Kibo (624,792,973 shares issued and outstanding at the time of the AGM).

Included amongst the passed resolutions (specifically Resolution 8 - see Table below), the Company is pleased to announce that the change of name to Kibo Energy Public Limited Company ("Kibo Energy PLC" or "Kibo Energy") has been approved by shareholders and will become effective upon receipt of confirmation of name change from the Registrar of Companies ("Receipt"). Trading in the Company's shares under the new name is anticipated to take effect from the day following Receipt, with both to be announced in due course. The Company's TIDM will remain KIBO.

With three power projects in development in Tanzania, Botswana and Mozambique, the Company believes that the new name, Kibo Energy completes the Company's transformation from a resources company to a full-fledged energy company, positioning itself as a strategic and leading energy provider in sub-Sahara Africa.

The proxy voting details at the AGM are shown on the table below.

 
 Resolution              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 2017 together 
               with the Directors and Auditors 
 1.            Reports thereon.                           234,646,253    98.18   0         0      0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              To re-elect Mr. Tinus Maree 
               as a 
 2.            Director.                                  234,569,126    98.14   77,127    0.03   0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              To re-elect Mr. Wenzel Kerremans 
 3.            as a Director.                             234,646,253    98.18   0         0      0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              To appoint Crowe Clarke Whitehill 
 4.            LLP as auditors of the Company             234,579,227    98.15   67,026    0.03 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              To authorise the Directors 
               to fix the 
 5.            remuneration of the auditors.              234,646,253    98.18   0         0      0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              That the Directors be and 
               are hereby generally and unconditionally 
               authorised to exercise all 
               powers of the Company to allot 
               relevant securities up to 
               a maximum aggregate nominal 
               value equal to the nominal 
               value of the authorised but 
               unissued ordinary share capital 
               of the Company from time to 
 6.            time.                                      234,476,746    98.10   169,507   0.07   0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              That the Directors be and 
               are hereby empowered pursuant 
               to Section 1023(3) of the 
               Companies Act, 2014 to allot 
               equity 
               Securities for cash pursuant 
               to the authority conferred 
 7.            by resolution number 6 above.              234,604,746    98.16   41,507    0.02   0        0 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              That subject to the approval 
               of the Registrar of Companies, 
               the name of the Company shall 
               be changed from "Kibo Mining 
               Public Limited Company" to 
               "Kibo Energy Public Limited 
 8.            Company"                                   234,604,746    98.16   0         0      41,507   0.02 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 
              That subject to the passing 
               of Resolution 8 above the 
               Articles and Memorandum of 
               Association of the Company 
 9.            be updated                                 234,604,746    98.16   0         0      41,507   0.02 
             ------------------------------------------  -------------  ------  --------  -----  -------  ----- 
 

All the resolutions approved, and they will be registered with the Companies Registration Office (Ireland).

**ENDS**

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

For further information please visit www.kibomining.com or contact:

 
 Louis Coetzee     [e-mail]    Kibo Mining        Chief Executive 
                                           Plc                Officer 
 Andreas Lianos    [phone]     River Group        Corporate and Designated 
                                                              Adviser on JSE 
                  ---------------------  -----------------  ------------------------- 
 Ben Tadd / Tom    [phone]   SVS Securities     Joint Broker 
  Curran                                   Limited 
                  ---------------------  -----------------  ------------------------- 
 Jon Belliss       [phone]   Novum Securities   Joint Broker 
                                           Ltd 
                  ---------------------  -----------------  ------------------------- 
 Andrew Thomson    [phone]        RFC Ambrian        NOMAD on AIM 
                                           Limited 
                  ---------------------  -----------------  ------------------------- 
 Isabel de Salis   [phone]   St Brides          Investor and Media 
  / Priit Piip                             Partners Ltd       Relations Adviser 
                  ---------------------  -----------------  ------------------------- 
 

Notes to editors

Kibo Mining 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.

Johannesburg

30 July 2018

Corporate and Designated Adviser

River Group

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July 30, 2018 06:00 ET (10:00 GMT)