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Kibo Energy PLC - group with energy projects in Africa and UK - Issues 56.1 million shares at a price of 0.16 pence each to Sanderson Capital Partners Ltd to settle the remaining GBP89,788 of the forward payment facility signed by both parties in December 2016.
Kibo Energy will have 3.04 billion shares issued overall, of which Sanderson will hold a 13% interest in the company.
Earlier Friday, Kibo announced the appointment of Cobus van der Merwe as chief financial officer with effect from June 1, replacing Pieter Krugel who will take up the same role at Mast Energy Developments PLC.
London stock price close: 0.16 pence
12-month change: down 43%
Johannesburg stock price close: ZAR0.06
12-month change: down 57%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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