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Pin to quick picksKibo Energy Share News (KIBO)

Share Price Information for Kibo Energy (KIBO)

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Share Price: 0.008
Bid: 0.007
Ask: 0.009
Change: 0.00 (0.00%)
Spread: 0.002 (28.571%)
Open: 0.008
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AIM WINNERS & LOSERS: Kooth wins USD1.5 million deal, plans buyback

Tue, 24th Dec 2024 10:22

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday.

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AIM - WINNERS

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Windward Ltd, up 42% at 207 pence, 12-month range 83.5p-207p. The Tel Aviv, Israel-based maritime predictive intelligence company has accepted a takeover offer worth GBP216 million from the fund group FTV VIII LP. The buyer Octopus UK Bidco Ltd is a London-based vehicle owned by FTV VIII LP, which is operated by San Francisco-based growth equity firm FTV Management Co LP. FTV VIII's offer is for 215p per Windward share, valuing the company's entire share capital at around GBP216 million in total. This represents a 46% premium on Windward's closing share price of 147.65p on Monday. FTV describes the deal as an opportunity "to increase exposure to the growing maritime compliance and supply chain end market". Also says it will drive Windward's expansion from the maritime sector "into a broader supply chain analytics provider". FTV remains "confident in the future prospects of Windward's business" although due to a need for investment, expansion could lower short to medium-term profitability. Windward's independent directors have unanimously approved the deal, and will recommend shareholders vote in its favour at a general meeting that will take place no later than January 10.

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Kooth PLC, up 11% at 180p, 12-month range 159p-345p. The London-based provider of digital youth mental health care announces plans to start a new share buyback. Says it believes its shares are "significantly" undervalued, and that the buyback will be worth up to GBP1.5 million. It will hold the repurchased stock in treasury to fulfil "future obligations arising from the company's long-term incentive plan and/or other share-based reward plans". Also announces the pilot contract with the US state of New Jersey, worth USD1.5 million, which has an initial one-year term with services expected to start in mid-January. Kooth will provide mental health support via its Soluna platform to New Jersey school districts, reaching 50,000 students aged 13 to 18. Says it already has infrastructure in the US to deliver the contract, with similar deals already in place in California and Illinois.

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AIM - LOSERS

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Kibo Energy, down 13% at 0.0105p, 12-month range 0.01p-0.04p. Publishes earnings for the first half of 2024 and resumes trading on AIM, having previously been suspended due to delays in publishing financial results. The Galway, Ireland-based company is a cash shell that formerly owned energy projects in Africa and the UK. Kibo reports that for the first half of 2024, pretax loss was GBP636,228, narrowed from GBP1.8 million a year earlier. Says revenue fell 11% to GBP176,697 from GBP198,438, in part due to asset disposals. During the half year, Kibo significantly reduced its shareholding in Mast Energy Developments PLC, and sold its interest in Kibo Energy Botswana Ltd in January to Aria Capital Management for GBP70,000. It made a profit from the disposal of non-current assets of GBP334,351, up from nothing the prior year. Impairments of non-current assets amounted to GBP15,315, compared to the prior year's impairment reversal of GBP4.1 million. The half year also saw Kibo undertaking an extensive restructuring and repositioning plan focused on its transition to a broader-based energy company.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
24 Dec 2024 09:35

Kibo Energy suspension on AIM lifted as interim loss shrinks

(Alliance News) - Kibo Energy PLC on Tuesday returned to the London Stock Exchange's AIM after suspension as the cash shell recorded a narrowed loss following an "extensive" restructuring.

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23 Dec 2024 14:31

Kibo Energy expects AIM return after releasing 2023 financial books

(Alliance News) - Kibo Energy PLC said on Monday it expects the suspension of its shares to be lifted now that it has released its financial results.

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3 Dec 2024 10:26

Kibo Energy secures loan after terminating reverse takeover attempt

(Alliance News) - Kibo Energy PLC on Tuesday said it has terminated its bid to acquire a portfolio of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million, citing time constraints.

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11 Oct 2024 13:33

IN BRIEF: Kibo Energy shareholders okay acquisition of green projects

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its shareholders have approved its proposed acquisition of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million. Kibo asked its shareholders to vote on the deal at an extraordinary general meeting on Friday.

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4 Oct 2024 15:58

UK shareholder meetings calendar - next 7 days

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1 Oct 2024 08:57

IN BRIEF: Kibo Energy sells Mast Energy stake to partially settle loan

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells remaining 19.5% interest in Mast Energy Developments PLC to shareholder and creditor RiverFort Global Opportunities PCC Ltd to partially settle a loan of GBP462,871. Sells 83.2 million Mast shares for GBP120,074, 0.14 pence per share, reducing the outstanding balance on the RiverFort loan to GBP342,797. RiverFort owns around a 3.3% shareholding in Kibo.

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19 Sep 2024 15:47

IN BRIEF: Kibo Energy signs agreement to sell Cyprus unit Kibo Mining

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Signs an agreement to dispose of its wholly owned Cyprus subsidiary Kibo Mining (Cyprus) Ltd. This disposal is one of the conditions after Kibo agreed to acquire a diverse portfolio of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million, or around ZAR7.86 billion. Says it will seek shareholder approval for the disposal at a general meeting.

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16 Sep 2024 14:11

Kibo Energy agrees to acquire green projects for EUR400 million

(Alliance News) - Kibo Energy PLC said on Monday it has inked a binding term sheet to acquire a diverse portfolio of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million, or around ZAR7.86 billion.

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12 Sep 2024 11:29

IN BRIEF: Mast Energy first refurbished genset lifts revenue in July

Mast Energy Developments PLC - developer of reserve power generation plants - Reports that first refurbished 2.7-megawatt generator set, or genset, at its Pyebridge flexible power plant generated revenue amounting to GBP66,000 in July, up 16% from GBP57,000 previously reported following receipt of imbedded benefits. Preliminary revenue for August is GBP46,000 before receipt of imbedded benefits.

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30 Aug 2024 10:42

Mast Energy interim loss shrinks amid refurbishment at power plant

(Alliance News) - Mast Energy Developments PLC reported on Friday that it reduced its interim loss as the company carried out maintenance and refurbishment at its Pyebridge power plant.

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23 Aug 2024 20:42

FTSE Russell to remove certain companies on suspension of dealing rule

(Alliance News) - FTSE Russell on Friday said a number of companies will be removed from the FTSE Russell Index after being suspended for 40 business days without an indication of resumption.

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20 Aug 2024 10:35

IN BRIEF: Kibo unit Mast Energy starts to revamp second generator set

Mast Energy Developments PLC - developer of reserve power generation plants - Starts to refurbish its second generator set, or genset, at its Pyebridge flexible power plant in Derbyshire, England. Says RiverFort Global Opportunities PCC Ltd has agreed to provide GBP1.1 million to fund this second genset overhaul, as part of a third advance against the project finance agreement. In February, RiverFort committed to an initial funding facility up to GBP4.0 million.

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7 Aug 2024 13:48

IN BRIEF: Mast Energy shares rally as new generator set earns revenue

Mast Energy Developments PLC - developer of reserve power generation plants - Says its first refurbished generator set, or genset, achieves GBP56,689 in revenue in first month of its operation at its Pyebridge flexible power plant in Derbyshire, England. The refurbished genset started commercial operation on July 1. Mast says it has carefully monitored the refurbished genset to ensure optimal performance.

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6 Aug 2024 08:33

IN BRIEF: Kibo Energy completes share placing; Williams has 28% stake

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Converts GBP263,334 of debt into equity at a 0.0084 pence per share. Of this, Non-Executive Director Clive Roberts is issued 1.62 billion shares for a GBP136,088 loan. In addition, former CEO Louis Coetzee converts GBP243,244 in outstanding remuneration to shares at the same price.

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