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KIBO ENERGY PLC - Kibo Subsidiary Announces TR-1 Notification

Release Date: 04/03/2024 12:48
Code(s): KBO     PDF:  
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Kibo Subsidiary Announces TR-1 Notification

Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
LEI Code: 635400WTCRIZB6TVGZ23
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
('Kibo' or 'the Company')

   Dated: 4 March 2024

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

               Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings

   Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company,
   announces a TR-1 Notification by its subsidiary Mast Energy Developments PLC ('MED'), a UK-
   based multi-asset owner, developer and operator in the rapidly growing flexible power market.

   The proceeds from the disposal of the MED shares amounting to approximately £29,350 have been
   used to reduce the outstanding balance on the Company's reprofiled bridge loan facility with
   RiverFort Global Opportunities PCC Ltd. (refer Kibo RNS announcements of 11 and 26 April 2023).

   Further details can be found in the full MED announcement, which is available below and at
   med.energy:

                                     –––––––––––––––––––––––––
   Dated: 4 March 2024

                    TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft
Word format if possible)

1a. Identity of the issuer or the underlying issuer of
                                                                     Mast Energy Developments PLC
existing shares to which voting rights are attached:
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights                                                          X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name                                                          Kibo Mining (Cyprus) Limited
City and country of registered office (if applicable)         Limassol Cyprus
4. Full name of shareholder(s) (if different from 3.)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached:        01/03/24
6. Date on which issuer notified (DD/MM/YYYY):                01/03/24
7. Total positions of person(s) subject to the notification obligation
                                                      % of voting rights                      Total number of
                                 % of voting rights
                                                      through financial Total of both in      voting rights held
                                 attached to shares
                                                      instruments (total % (8.A + 8.B)        in issuer (8.A +
                                   (total of 8. A)
                                                      of 8.B 1 + 8.B 2)                       8.B)
Resulting situation on the
date on which threshold was     33.15%                                   33.15%               87,461,746
crossed or reached
Position of previous
notification (if                35.80%                                   35.80%
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
A: Voting rights attached to shares
Class/type of shares
                             Number of voting rights             % of voting rights
ISIN code (if possible)
                                Direct            Indirect              Direct              Indirect
                               (DTR5.1)          (DTR5.2.1)           (DTR5.1)             (DTR5.2.1)
GB00BMBSCV12                 87,461,746                          33.15%
SUBTOTAL 8. A                            87,461,746

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
                                                               Number of voting
                                                               rights that may be
Type of financial   Expiration      Exercise/ Conversion                                   % of voting
                                                               acquired if the
instrument          date            Period                                                 rights
                                                               instrument is
                                                               exercised/converted.

                                    SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of                          Exercise/        Physical or
                  Expiration                                        Number of     % of voting
financial                        Conversion       cash
                  date                                              voting rights rights
instrument                       Period           Settlement

                                                       SUBTOTAL
                                                       8.B.2

  9. Information in relation to the person subject to the notification obligation (please mark the
  applicable box with an "X")
  Person subject to the notification obligation is not controlled by any natural person or legal entity
  and does not control any other undertaking(s) holding directly or indirectly an interest in the
  (underlying) issuer
  Full chain of controlled undertakings through which the voting rights and/or the
  financial instruments are effectively held starting with the ultimate controlling natural person or           X
  legal entity (please add additional rows as necessary)
                                     % of voting rights        % of voting rights
                                       if it equals or is       through financial           Total of both if it
                Name                   higher than the      instruments if it equals equals or is higher than
                                           notifiable         or is higher than the     the notifiable threshold
                                           threshold          notifiable threshold
Kibo Energy PLC
Kibo Mining (Cyprus) Limited      33.15%                                                33.15%

10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information


Place of completion      Limassol, Cyprus
Date of completion       4/03/24

 This announcement contains inside information for the purposes of the UK version of the Market
 Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of
 the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the publication of this
 announcement, this inside information is now considered to be in the public domain.

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

  Pieter Krügel        info@med.energy             Mast Energy Developments PLC   CEO
  Jon Belliss          +44 (0)20 7399 9425         Novum Securities               Corporate Broker


                                      _________________________

                                                **ENDS**

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

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

  James Biddle     +44 207 628 3396      Beaumont Cornish Limited                 Nominated Adviser
  Roland Cornish
  Claire Noyce     +44 20 3764 2341      Hybridan LLP                             Joint Broker
  Damon Heath      +44 207 186 9952      Shard Capital Partners LLP               Joint Broker

 Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is
 authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's
 Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities
 under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the
 London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other
 persons for providing protections afforded to customers of Beaumont Cornish nor for advising them
 in relation to the proposed arrangements described in this announcement or any matter referred to
 in it.

 Johannesburg
 4 March 2024
 Corporate and Designated Adviser
 River Group

Date: 04-03-2024 12:48:00
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