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Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Appoints Cobus van der Merwe as an interim chief executive officer. Van der Merwe is the chief financial officer. Says Louis Coetzee retires as the CEO. These board changes are effective immediately and are partially completed. Notes that Clive Roberts will be appointed to the board in due course when regulatory approval is completed. Late last moth, Kibo named Roberts, a shareholder in Kibo, as a non-executive director and chair.
Kibo also says it has now received the tranche one proceeds of GBP150,000 after allotting 1.8 billion placing shares to Peter Williams. The proceeds will now allow the audit of the 2023 financial results to proceed. This is part of the GBP350,000 share placing of 4.17 billion new shares at 0.0084 pence each. The tranche two is also raised through Williams.
Stock price in Johannesburg: 0.01 rand cent
12-month change: down 50%
Stock price in London: 0.012 pence
12-month change: down 78%
By Artwell Dlamini, Alliance News reporter
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