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")

2 June 2023

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

 Results of EGM and Reduction in Par Value of Ordinary Shares

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the results of voting at an Extraordinary General Meeting ("EGM") held today. Proxies were received by shareholders holding 32.46% of the shares in Kibo (3,779,866,683 ordinary shares issued and outstanding). 

The proxy voting results at the EGM are shown in the table below: -

The Ordinary Resolutions 1, 3 and 6 were carried as their vote exceeded the required threshold of  50% of proxies cast, voting in favour. The Special Resolutions, 2, 4, 5,7 and 8  were not carried as they did not reach the minimum threshold of 75% of proxies cast, voting in favour.

Following the approval of Ordinary Resolutions 1, 3, & 6 the nominal value of the Company's ordinary shares has been reduced from €0.001 per share to €0.0001 per share. Trading in the newly denominated shares will take effect from the opening of markets on the 6 June 2023 with no change in the ISIN or SEDOL numbers. Replacement share certificates showing the new nominal value of the shares will be posted to those shareholders already holding Kibo shares in certificated form by no later than the 12 June 2023. South African shareholders who hold Kibo shares in certificated form and whose share are listed on the JSE should complete the Form of Surrender and Transfer that they have received with the Company's Notice of Extraordinary General Meeting and return it with their existing share certificates and/or other documents of title to the Company's South African Registrar, Link Market Services (Proprietary) South Africa in order to receive replacement share certificates/other documents of title.

**ENDS**

For further information please visit www.kibo.energy or contact:

Johannesburg

2 June 2023

Corporate and Designated Adviser

River Group