Kibo Energy PLC SEPCO III Strategic Development Agreement (0793K)
11 December 2018 - 6:01PM
UK Regulatory
TIDMKIBO
RNS Number : 0793K
Kibo Energy PLC
11 December 2018
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: 11 December 2018
Kibo Energy PLC ('Kibo' or the 'Company')
SEPCOIII Strategic Development Agreement
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset,
Africa focused energy company, announces that further to the
announcement dated 3 December 2018, the Board of Kibo has elected
to extend the deadline for the final confirmation of the Strategic
Development Agreement ("SDA") with SEPCOIII (announced 3 July
2018), for a further 4 months to 30 March 2019. It has been agreed
that this is a period of non-exclusivity during which Kibo can
enter into discussions with alternative interested parties. The
Company's relationship with SEPCOIII remains a strong and positive
working relationship as is reflected in their continued close
co-operation to finalize the SDA referred to above and on the
development of the Mbeya Coal to Power Project, where the parties
have amongst others signed a joint development agreement and EPC
contract. The Company looks forward to updating the market further
in this regard in due course.
The Company also advises that the Kibo Energy research note that
was recently prepared and published by First Equity will also be
available on the Company's website as of 12pm GMT, 11 December
2018.
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
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
------------------- ----------------------- -------------------------
Ben Tadd / +44 (0) 20 3700 SVS Securities Limited Joint Broker
Tom Curran 0093
------------------- ----------------------- -------------------------
Jason Robertson +44 (0) 20 7374 First Equity Limited Joint Broker
2212
------------------- ----------------------- -------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM
------------------- ----------------------- -------------------------
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
/ 1177 Ltd Relations Adviser
Gaby Jenner
------------------- ----------------------- -------------------------
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, 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 will benefit from its robust and
experienced international blue-chip partnership network across its
project portfolio, which includes: SEPCO III (China), General
Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting
(South Africa); ABSA / Barclays Africa; and Hogan Lovells
International LLP.
Johannesburg
11 December 2018
Corporate and Designated Adviser
River Group
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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