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egm thursday ...LC go friday ..
You have to admire old Goatzee in his ability to make money (that is, for himself). Whatever happened to lagunaB, has he thrown in the towel?
What about Southport, how is it progressing, will the new company own/invest in this or will it be a Kibo project?
https://www.lse.co.uk/rns/KIBO/acquisition-of-advanced-uk-waste-to-energy-project-ozu52qn09dt4tqc.html
• Shankley Biogas Ltd has negotiated a Power Purchase Agreement ('PPA') and a Gas Purchase Agreement ('GPA') term sheet on favourable terms with a blue-chip buyer.
• The Project has full planning permission as well as grid and gas connection points already in place.
• Based on independent financial estimates, prepared by reputable and appropriately accredited consulting firm, the projected valuation metrics for the Project are summarised as follows:
- Internal rate of return ('IRR') of c. 22.78%
- Net Present Value (6%) ('NPV') of c. £47 million
- Net Asset Value ('NAV') of c. £22 million
- Projected average annual revenue of c. £24 million over a 25-year term.
- Estimated Operating margin c. 38%
- Capital estimated of c. £.35m
The above financial projections have been provided by Shankley and its consultants. Whilst these figures have been reviewed by Kibo, following completion of the transaction further review is ongoing and these estimates remain subject to change.
------------------------------------------
Timeline
https://www.lse.co.uk/rns/KIBO/operational-update-2023-7vet1u4lya2dk24.html
Completion of front-end engineering and design (FEED) study - Q1 2023
Submission of environmental permit application - Q2 2023
Submission of green gas supply scheme application - Q2 2023
Financial close - Q2/Q3 2023
Would love to know how he's sold this to you?
If any of the resolutions are carried it will be a travesty.
It’s always 18-24 months
We’re on some sort of Groundhog Day time loop
Simple questions,
What is his annual remuneration?
What are the timescales to delivery of shareprice value creation from point of employment?
Is this just another figurehead on the gravy train, and a drain on whatever money is left in the pot?
and the obvious one...
How are you going to pay his wages ??
roll on the 14th , tick tock
He’s employed someone to do his job for him. He should resign immediately.
Our new company supposedly Q4 22 or Q1 23....well kibo, you have about 3 weeks to hit that target, come on, let's see the finance news.
So now Goatzee has employed a fall guy.
You will probably find that it won’t be quite so easy to remove them from the BOD as you seem to think it’s going to be, and presumably at the further detriment to shareholders.
no gravy train no more hes got ZERO room for any shares to be allocated...he wants to take 50% off shareholders to fund his wages ...A VOTE OF NO CONFIDENCE ..AND LC LEAVES IMMENTLY...get someone who knows what they are doing and we might have a slight chance of making some come back but lc needs to go now ...hes a disgrace ..worst aim ceo ever
Well the gravy train will ultimately come to an end if they are unable to raise funds.
Fin.
It’s like being between a rock and a hard place….voting against all resolutions restricts him from raising funds to continue….this action in a way could also imply we are effectively bankrupting the company….not quite sure this is the desired outcome for investors that have been in this a while…..difficult times ahead for sure.
Voted against all resolutions.
He does not have sufficient support from the majority of shareholders.
They won’t fold this until they have squeezed every cent out of the market.
On todays rns
Even the extensions are getting extended, how long has this been going on
LC completes nothing
Last month of Q1
Is this still happening or have I missed something
· Kibo's renewable/clean energy generation projects to be listed on AIM as a new company named USE by Q4 2022/Q1 2023
· Post-admission, Kibo expects to hold a significant majority interest of ~75% in USE, maintaining a strategic interest post the initial fundraise and admission, to ensure continued upside from future developments
· Admission seeks to capitalise on strategic growth and funding opportunities identified in the renewable/clean energy generation market
· Anticipated fundraise of c. £7-10 million for USE to take place alongside admission - funds raised will be used to advance the short- to medium-term project development of a portfolio of renewable/clean energy generation projects to achieve financial close
Yep agree. Pyebridge is the only project in Kibo’s portfolio that is generating revenue. Unfortunately it is being eaten up by the other odd 20 projects that generate zilch income !!!
One swallow does not make a summer LC !!!!
he will try anything to get his wages and sod us ..he should try resigning on 17th march or before ..ive voted against LC having to half shareholders money invested just to get his wages ...i would rather lose my investment than keep LC here ...i said we would be over and done by april ...looks that way unless the big investers help LC ...must be on the white stuff if they do ...
Pyebridge Update..
Great news on Pyebridge. It should have a positive effect on Kibo's share price but one can't be sure as there's a lot of volatility in the general market.
Impressed by Kibo's updated website ~ professionally done and easy to navigate.
Will their Rns and new valuation have any effect on Kibo's sp today ?
The one advantage of LC not having significant shareholding is he cant vote them in favour.
I've instructed by broker to vote against all resolutions. Enough is enough. No one writes a blank cheque and not to someone that has plenty in the past and delivered nothing in return. If he wants shareholder support then things need to change. DPR is right ... this is isn't a dead duck but needs different direction.
I see the KAT AGM is conveniently the day before. There is little prospect of voting those resolutions down as I am sure KIBO will vote in favour. BUT there is a real prospect here as the BOD do not enjoy majority support.