09:00 Tue 10 Dec 2019
Kibo Energy PLC - Bordersley Update
(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: 10 December 2019
Bordersley Update
Overview
· Good progress towards de-risking 5 MW gas-fuelled power generation plant, Bordersley, which remains on target for commercial commissioning at the end of Q1 2020
· Several milestones achieved by the Bordersley working/steering committee, which includes MED and its joint development partner, AB Impianti S.R.L ('AB')
o Agreed site work scope
o Advanced Engineering, Procurement, and Construction ('EPC') solution
o Advanced associated financing agreement for Bordersley's construction and commissioning
· Further payment of 10,000,000 shares to be made to Bordersley's original MED vendors (see RNS dated
Details
Kibo continues to make progress towards de-risking its 5 MW gas-fuelled power generation plant, Bordersley, which remains on target for commercial commissioning at the end of Q1 2020. This is the first reserve power generation project being developed by MED as it focuses on building an initial portfolio of 100 MW reserve energy projects in the
In line with this, the Bordersley working/steering committee, which includes MED and its joint development partner, AB (see RNS dated
AB is a subsidiary of the
In light of the progress and pursuant to the agreement for Kibo to consolidate full ownership of Bordersley by acquiring all of the original MED vendors, St' Anderton on
Accordingly, application will be made for the 10,000,000 shares to be admitted to trading on AIM and the JSE AltX markets. Trading in these shares is expected to commence on AIM and the JSE on or around
**ENDS**
For further information please visit www.kibo.energy or contact:
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info@kibo.energy |
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Chief Executive Officer |
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+27 (0) 83 4408365 |
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Corporate and Designated Adviser on JSE |
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+44 (0) 20 7374 2212 |
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Joint Broker |
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+44 (0) 20 7392 1494 |
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Joint Broker |
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+44 20 3440 6800 |
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NOMAD on AIM |
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+44 (0) 20 7236 1177 |
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Investor and Media Relations Adviser |
Notes
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to
Additionally, the Company has a 60% interest in
Corporate and Designated Adviser
River Group
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