Kibo Energy PLC

Regulatory Filings • Mar 4, 2020

National Storage Mechanism | Additional information

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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	+27 (0) 83 4408365	River Group	Corporate and Designated Adviser on JSE
Jason Robertson	+44 (0) 20 7374 2212	First Equity Limited	Joint Broker
Philip Adler	+44 (0) 20 7392 1494	ETX Capital Limited	Joint Broker
Bhavesh Patel / Stephen Allen	+44 20 3440 6800	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Beth Melluish	+44 (0) 20 7236 1177	St Brides Partners Ltd	Investor and Media Relations Adviser

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

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