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")
7 December 2023
Kibo Energy PLC ('Kibo' or the 'Company')
Results of Annual General Meeting
Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the results of voting at its Annual General Meeting ("AGM") held today. Proxies were received by shareholders holding 21.51% of the shares in Kibo (3,779,866,683 ordinary shares issued and outstanding).
The proxy voting results at the AGM are shown in the table below: -
| Resolu-tion # | Summary Resolution | Votes For & Discretion | Votes Against | *Votes Withheld | |||
| | | Number | % | Number | % | Number | % |
| | | | | | | | |
| 1. | To receive, consider and adopt the accounts for the year ended 31 December 2022 and the Directors' and Auditor's Reports thereon. |
807,317,393
|
99.91 |
761,442 |
0.09 |
5,150,000 |
n/a |
| | | | | | | | |
| 2. | To authorise the Directors to fix the remuneration of the Auditors | 805,897,574 | 99.73 | 2,181,261 | 0.27 | 5,150,000 | n/a |
| | | | | | | | |
| 3. | To re-elect Noel O'Keeffe as a Director. | 737,318,477 | 91.25 | 70,660,358 | 8.75 | 5,250,000 | n/a |
| | | | | | | | |
| 4. | To re-elect Ajay Saldanha as a Director. | 615,832,241 | 76.22 | 192,146,594 | 23.78 | 5,250,000 | n/a |
| | | | | | | | |
| 5. | That the Directors be and are hereby generally and unconditionally authorised to execute all powers of the Company to allot relevant securities. | 527,220,477 | 64.84 | 285,858,358 | 35.16 | 150,000 | n/a |
| | | | | | | | |
| 6. | That the Directors be and are hereby empowered pursuant to Section 1023(3) of the Companies Act, 2014 to allot equity securities. | 527,220,477 | 64.84 | 285,858,358 | 35.16 | 150,000 | n/a |
| | | | | | | | |
| 7. | That the Memorandum of Association of the Company be updated | 527,220,477 | 64.84 | 285,858,358 | 35.16 | 150,000 | n/a |
| | | | | | | | |
| 8. | That the Articles of Association of the Company be updated. | 527,220,477 | 64.84 | 285,858,358 | 35.16 | 150,000 | n/a |
| *A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" and "Against" | |||||||
The Ordinary Resolutions 1, 2, 3, 4 & 5 were carried as their vote exceeded the required threshold of 50% of proxies cast, voting in favour. The Special Resolutions, 6, 7 and 8 were not carried as they did not reach the minimum threshold of 75% of proxies cast, voting in favour.
Shareholders should note that Special Resolutions 7 & 8 on the Notice of AGM were matters for which approval was sought to enable the Company to update the Company's Articles & Memorandum of Association with the Companies Registration Office in Ireland following a reduction in par value of the Company's shares and an increase in the authorised capital of the Company previously approved at a Company's EGM held on 2 June 2023 last ("EGM"). The failure to carry these two resolutions means that the Company's Memo & Articles of Association cannot be updated at the Companies Registration Office to reflect the reduction in par value and the increase in the authorised capital approved at the EGM and which remain unaffected by the voting results today.
**ENDS**
For further information please visit www.kibo.energy or contact:
| Louis Coetzee | Kibo Energy PLC | Chief Executive Officer | |
| James Biddle Roland Cornish | +44 207 628 3396 | Beaumont Cornish Limited | Nominated Adviser |
| Claire Noyce | +44 20 3764 2341 | Hybridan LLP | Joint Broker |
| Damon Heath | +44 207 186 9952 | Shard Capital Partners LLP | Joint Broker |
| Zainab Slemang van Rijmenant | Lifa Communications | Investor and Media Relations Consultant |
Johannesburg
7 December 2023
Corporate and Designated Adviser
River Group
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