Kibo Energy PLC (JSE:KBO) News - Signing of Funding Facility Agreement with Institutional Investor and Issue of Shares in lieu of Payment

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: 16 February 2022

                       Kibo Energy PLC ('Kibo' or the 'Company')
Signing of Funding Facility Agreement with Institutional Investor and Issue of Shares in lieu
                                       of Payment

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company,
is pleased to announce that it has today signed a bridge loan facility agreement (the “Facility”) with
an Institutional Investor (the “Investor”) for up to £3m with a term of up to 36 months. The Facility
provides for an initial drawdown (the “Initial Advance”) of £1m which is immediately available to
the Company on signing of the Facility. Funds advanced under the Facility will attract a fixed coupon
interest rate of 3.5% and will be repayable with accrued interest, 4 months from the date of drawdown.

The Investor shall receive warrants equal to 30% of each drawdown divided by the average of the
daily VWAP for each of the 5 consecutive trading days immediately prior to the applicable drawdown
date (“Reference Price”), with a 36-month term to expiry from the date of issuance. The warrants are
exercisable at a subscription price being equal to 130% of the then prevailing Reference Price. If the
share price of the Company is above a 100% premium to the relevant exercise price for 30 consecutive
days, then 50% of the warrants will be cancelled, unless otherwise previously exercised. With regards
to the Initial Advance, the Investor will receive 168,274,625 warrants.

In compliance with the Facility terms for the Initial Advance, the Company has issued shares in
settlement of a facility implementation fee of £70k in the amount of 39,264,079 new ordinary Kibo
shares of €0.001 each at a deemed price of 0.17828 pence per share (the “Implementation Fee
Shares”).

Additionally, the Company has issued 13,157,895 new ordinary Kibo shares of €0.001 each at 0.19
pence per share (the "Settlement Shares") to certain providers of financial and technical services in
payment of outstanding invoices.

Louis Coetzee, CEO of Kibo commented, “The Facility is one of the steps driving Kibo towards a
fully renewable future, culminating in potentially highly predictable revenues and cash flow streams.
It is very satisfying to be able to build a portfolio that is both environmentally positive and has
potential to generate strong growth and reliable returns for shareholders. We also believe that the
support of an institional investor at this point in our development is an indication of the credibility of
our strategic plan and operational execution. We are pleased to have procured this Facility on very
favorable and competitive terms, which will provide the company with access to the immediate capital
required to develop the various projects it is currently working on. In particular, this Facility will
advance the Company’s waste-to-energy portfolio, see RNS of 14 February 2022, by meeting the
immediate funding requirements on these projects.”

Admission and Total Voting Rights
Application will be made for the Implementation Fee Shares and Settlement Shares to be admitted to
trading on AIM and the JSE AltX markets. Trading in the Implementation Fee Shares and Settlement
Shares are expected to commence on AIM and the JSE on or around 23 February 2022 ('Admission').
Following Admission, the Company will have 2,983,079,411 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.

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

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

Louis Coetzee   info@kibo.energy            Kibo Energy PLC      Chief Executive Officer

Andreas Lianos  +357 99 53 1107             River Group          JSE Corporate and Designated Adviser

Claire Noyce    +44 (0) 20 3764 2341        Hybridan LLP         Joint Broker

Damon Heath     +44 207 186 9952            Shard Capital        Joint Broker
                                            Partners LLP

Bhavesh Patel/  +44 20 3440 6800            RFC Ambrian Ltd      NOMAD on AIM
Stephen Allen

Isabel de Salis/ info@stbridespartners.com  St Brides Partners   Investor and Media Relations Adviser
Oonagh Reidy



Johannesburg
16 February 2022
Corporate and Designated Adviser
River Group

Date: 16-02-2022 05:15:00
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