Kibo Energy PLC Amendment to Share Purchase Agreement (9867G)
02 April 2022 - 1:00AM
UK Regulatory
TIDMKIBO
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 Joint Broker
LLP
----------------------------- ---------------------- ----------------------------
Bhavesh Patel +44 20 3440 6800 RFC Ambrian Ltd NOMAD on AIM
/ Stephen Allen
----------------------------- ---------------------- ----------------------------
Christopher energy@acfequityresearch.com ACF Equity Research Independent Equity Research
Nicholson House
----------------------------- ---------------------- ----------------------------
Sewela Makgolane sewela@lifacommunications.com Lifa Communications Investor and Media Relations
Adviser
----------------------------- ---------------------- ----------------------------
Johannesburg
1 April 2022
Corporate and Designated Adviser
River Group
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END
MSCBKDBNDBKDAQK
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