Kibo Energy PLC (JSE:KBO) News - Share Subscription for £860,000 Arranged with Private Investors

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
SIN: IE00B97C0C31
(“Kibo” or “the Company”)

3 November 2021

                      Kibo Energy PLC (‘Kibo’ or the ‘Company’)
             Share Subscription for £860,000 Arranged with Private Investors

Kibo Energy PLC (AIM: KIBO; AltX:KBO), the renewable energy focused development company, is
pleased to announce that it has successfully raised total gross proceeds amounting to GBP 860,000
(the “Subscription”) via the issue of 430,000,000 ordinary shares of par value €0.001 each (the
“Subscription Shares”) at an issue price of 0.2 pence per share, with private investors (the
“Investors”). Each share has one warrant attached which is exercisable at 0.4 pence per share (the
“Exercise Price”) and with an exercise period of 24 months.

Proceeds from the Subscription will be utilized primarily to further develop the Company's energy
portfolio most notably the Company’s waste to energy projects and for working capital
requirements.

Details of the Placing
Kibo has raised gross proceeds of GBP 860,000 via a private subscription with Investors. Each
Subscription Share issued will have one warrant attached, convertible to one ordinary share at the
Exercise Price of 0.4 pence per share, for the period of 24 months from the subscription date. If the
daily Kibo VWAP on AIM for a period of 20 consecutive trading days should exceed 0.6 pence, the
Company will have the right at any time thereafter to require the Investors to exercise all their warrants
at the Exercise Price upon receiving 14 days written notice. Failing to do this, the warrants will expire
and will be no longer exercisable.

Application will be made for the Subscription Shares to be admitted to trading on AIM and the JSE
AltX markets. Trading in the Subscription Shares is expected to commence on AIM and the JSE on
or around 10 November 2021 ('Admission'). Following Admission, the Company will have
2,905,348,737 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.

                                               **ENDS**

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

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          Broker
 
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


Notes

Kibo Energy PLC is a multi-asset, UK & Africa focused, energy company positioned to participate in
the renewable energy markets. Its main focus is in the UK and South Africa in the developing waste-
to-energy market whilst elsewhere in Africa it seeks to address the acute power deficit on the continent
through its interest in three coal-fueled power projects optimized to use the latest green-house gas
emission reducing technology in combination with co-located renewable energy generation.

Additionally, the Company has a 55.42% interest in MAST Energy Developments Plc ('MED') an LSE
listed UK company targeting the development and operation of flexible power plants to service the UK
Reserve Power generation market.

Johannesburg
03 November 2021
Corporate and Designated Adviser
River Group

Date: 03-11-2021 09:00:00
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