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Dated: 06 August 2020
Kibo Energy PLC
Sloane listing update - Sloane acquires 100% interest in Mast Energy
Kibo Energy PLC ('Kibo' or the 'Company'), the multi-asset, Africa focused, energy company, is pleased to provide a progress update on the planned admission of its 100% owned UK subsidiary Sloane Developments Ltd ('Sloane'), which will be renamed Mast Energy Developments PLC ('MED'), to the Standard List of the London Stock Exchange plc ('LSE').
Sloane has acquired from St Anderton on Vaal Limited ('St Anderton') the remaining 40% interest in Mast Energy Developments Ltd ('Mast Energy') in exchange for 36,917,076 new Ordinary Shares in Sloane. Accordingly, Sloane will at completion of the ************** transaction own a 100% interest in Mast Energy alongside its 100% interest in Bordersley Power Ltd as it seeks to develop a portfolio of flexible power plants in the UK. St Anderton will at completion hold 26.11% of Sloane, with Kibo holding the remaining 73.89%. Completion shall take place upon the satisfaction or waiver of the following conditions precedent:
-- any required approvals or other consents being obtained from the UK Listing Authority and Financial Conduct Authority with regard to the listing of Sloane/MED on the Main Market of the LSE, Standard segment; and
-- any approvals or other consents required by law or any regulatory authority.
Kibo CEO, Louis Coetzee, said, "Sloane's acquisition of St Anderton's interest in Mast Energy takes us one step closer to the listing of MED, formalising the new corporate and share structure. With a 100% interest in two highly strategic assets MED is poised to develop a portfolio of flexible power plants in the UK, which Kibo will crucially continue to gain upside from, through our majority interest in MED. We look forward to continuing to advance this listing at pace so that MED can capitalise on the significant growth opportunities available in the rapidly growing Reserve Power market and we can realise value for all stakeholders."
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Kibo Energy Share News - KIBO
Current Price
0.275p
0.10 57.14%
Bid Price Offer Price
0.25 0.30
High Price Low Price Open Price
0.275 0.175 0.175
Shares Traded Last Trade Market Cap (m)
63,057,089 10:41:25 3
Kibo Energy PLC Sloane acquires 100% interest in Mast Energy
Intraday Kibo Energy Chart
Intraday Kibo Energy Chart
06/08/2020 9:00am
UK Regulatory (RNS & others)
TIDMKIBO
RNS Number : 2810V
Kibo Energy PLC
06 August 2020
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
Dated: 06 August 2020
Kibo Energy PLC
Sloane listing update - Sloane acquires 100% interest in Mast Energy
Kibo Energy PLC ('Kibo' or the 'Company'), the multi-asset, Africa focused, energy company, is pleased to provide a progress update on the planned admission of its 100% owned UK subsidiary Sloane Developments Ltd ('Sloane'), which will be renamed Mast Energy Developments PLC ('MED'), to the Standard List of the London Stock Exchange plc ('LSE').
Sloane has acquired from St Anderton on Vaal Limited ('St Anderton') the remaining 40% interest in Mast Energy Developments Ltd ('Mast Energy') in exchange for 36,917,076 new Ordinary Shares in Sloane. Accordingly, Sloane will at completion of the ************** transaction own a 100% interest in Mast Energy alongside its 100% interest in Bordersley Power Ltd as it seeks to develop a portfolio of flexible power plants in the UK. St Anderton will at completion hold 26.11% of Sloane, with Kibo holding the remaining 73.89%. Completion shall take place upon the satisfaction or waiver of the following conditions precedent:
-- any required approvals or other consents being obtained from the UK Listing Authority and Financial Conduct Authority with regard to the listing of Sloane/MED on the Main Market of the LSE, Standard segment; and
-- any approvals or other consents required by law or any regulatory authority.
Kibo CEO, Louis Coetzee, said, "Sloane's acquisition of St Anderton's interest in Mast Energy takes us one step closer to the listing of MED, formalising the new corporate and share structure. With a 100% interest in two highly strategic assets MED is poised to develop a portfolio of flexible power plants in the UK, which Kibo will crucially continue to gain upside from, through our majority interest in MED. We look forward to continuing to advance this listing at pace so that MED can capitalise on the significant growth opportunities available in the rapidly growing Reserve Power market and we can realise value for all stakeholders."
MED is in the business of acquiring,
Many peeps buying at over
0.27
Wasnt it 7p 6 months ago according to the charts
The charts I am reading say 0.7p 6 months ago mrcalm
Excellent news. Have bought in.
come down.......
In the past 5 years the high has been nearer 10p and the low 0.175p so it’s only up a bit off all time lows but company seems to be in the best position it has been for some time including the KAT stake.
Up to people to decide whether it’s worth an investment or not.
Nai/DYOR
Wasnt it 7p 6 months ago according to the charts
Can see 0.5p today when people cotton on to the KAT holding and this news.
Nai/DYOR
Too Cheap to ignore. this will go up! SP was it lowest for last few months. Hold for gain.
At £400k this is cheap.
Over 1p this time last year
NT to buy
the chart suggests a falling wedge type pattern which is appearing everywhere especially on mini miners
plenty explosions cometh>>>>>>
contrary to beleif
mms control the price with their deep pocketed inseider firends
its always gone where they say
using opposite emotional moves to confuse
every stocks the same
and stop being so concerned with million bought half million sold
LOL
always 2 sides to each trade n the inside money wont be seen?!
Went up then a drop and bouncing back jheez!