Kibo Energy PLC

Regulatory Filings • Apr 1, 2022

National Storage Mechanism | Additional information

RNS Number : 9867G

Kibo Energy PLC

01 April 2022

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: 1 April 2022

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

Amendment to Share Purchase Agreement

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces an amendment (the "First Amendment") to the Share Purchase Agreement ("SPA") to acquire the Victoria Falls Solar Park project in Zimbabwe (the"Project") from Broomfield International Limited ("Broomfield"), the details of which were announced in the Company's RNS/SENS of 21 March 2022 (the "Previous Announcement").

The First Amendment extends the completion date for the first three conditions precedent noted in the Previous Announcement  (numbered 1, 2 & 3) to no later than 29 April  2022 . The SPA previously noted that these three conditions precedent were for completion by no later than 31 March 2022.

For clarity the first three conditions precedent noted in the Previous Announcement now provide for:

1.   by no later than 29 April 2022, Kibo and Broomfield shall have delivered to each other written notice that they are satisfied with the results of their respective due diligence investigation;

2.   by 29 April 2022, Broomfield shall have provided certified copies of resolutions authorising the sale of Brownhill;

3.   by 29 April 2022, Kibo shall have entered into service agreements on mutually acceptable terms with the key individuals nominated by Broomfield to the board and executive management of Kibo for a period of at least 24 months;

The  above record the only amendments to the SPA as a result of the signing of the First Amendment and all other terms and conditions of the SPA remain the same including the remaining conditions precedent noted and numbered 4 to 7 in the Previous Announcement and all other information provided therein.

The Company will in due course provide further progress updates and additional background information on the acquisition of the Project.

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 Partners LLP	Joint Broker
Bhavesh Patel / Stephen Allen	+44 20 3440 6800	RFC Ambrian Ltd	NOMAD on AIM
Christopher Nicholson	energy@acfequityresearch.com	ACF Equity Research	Independent Equity Research House
Sewela Makgolane	sewela@lifacommunications.com	Lifa Communications	Investor and Media Relations Adviser

Johannesburg

1 April 2022

Corporate and Designated Adviser

River Group

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBKDBNDBKDAQK