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IN BRIEF: Kibo Energy names Cobus van der Merwe as chief executive

Fri, 05th Jul 2024 07:41

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

Comments and questions to newsroom@alliancenews.com

More News

29 Jul 2022 15:00

IN BRIEF: Kibo Energy receives Mast Energy shares as loan repayment

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Receives 28.7 million new shares in Mast Energy Developments PLC at a price of 3.48 pence each, to partially settle GBP1 million of the outstanding shareholder loan owed to Kibo's subsidiary Kibo Mining Cyprus Ltd.

14 Jul 2022 17:14

LONDON MARKET CLOSE: Stocks red on potential full-point hike in US

(Alliance News) - Stocks in London closed in the red on Thursday after markets across Europe slipped after the European Commission slashed its GDP forecast for 2022 and investors saw a difficult start to the US earnings season.

14 Jul 2022 11:16

AIM WINNERS & LOSERS: Kibo extends contract; Appreciate CEO steps down

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

14 Jul 2022 08:28

IN BRIEF: Kibo Energy extends waste-to-energy agreement to 20 years

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Extends to 20 years from 10 years the waste-to-energy power purchase agreement that was first announced back in February. The agreement outlines the construction, commissioning and operation of a 2.7 megawatt plastic-to-syngas power plant to generate baseload electricity for an industrial business park developer in Gauteng province, South Africa. The project is the company's first under its joint venture, Sustineri Energy, in which Kibo Energy holds 65% and Industrial Green Energy Solutions (Pty) Ltd holds the balance.

7 Jul 2022 08:04

IN BRIEF: Kibo hits critical strategic milestone in CellCube agreement

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Announces it has achieved its first major framework agreement target by placing the first commitment to purchase the first two proof of concept projects. These projects relate to its signed strategic five-year framework agreement with CellCube to deploy long-duration energy storage in Southern Africa.

4 Jul 2022 08:17

IN BRIEF: Kibo Energy extends redemption date of instrument

Kibo Energy PLC - group with energy projects in Africa and UK - Agrees with all remaining noteholders on a further extension of three months to the redemption date of convertible instrument. The redemption date is now September 30, including notes in aggregate of GBP657,985.

27 Jun 2022 17:06

IN BRIEF: Kibo Energy loss widens in 2021 on impairment costs

Kibo Energy PLC - group with energy projects in Africa and UK - Reports revenue of GBP3,245 in 2021, versus none in 2020. Loss after tax widens to GBP23.0 million from GBP6.4 million. Bottom line hit by GBP20.7 million impairment of non-current assets.

30 May 2022 09:12

IN BRIEF: Kibo Energy, Hasta Trust to develop energy storage projects

Kibo Energy PLC - group with energy projects in Africa and UK - Enters into an exclusive agreement with Hasta Trust to jointly develop a portfolio of long duration energy storage projects held exclusively by National Broadband Solutions, which is owned by Hasta. The initial target is a 36,320 megawatt-hour capacity in South Africa.

27 May 2022 11:10

Kibo backs out of Victoria Falls solar acquisition

(Sharecast News) - Kibo Energy announced the termination of its intended acquisition of the Victoria Falls Solar Park project in Zimbabwe from Broomfield International on Friday, which it initially detailed on 21 March.

27 May 2022 09:34

Kibo Energy terminates acquisition of Victoria Falls solar project

(Alliance News) - Kibo Energy PLC on Friday said it has terminated its intended acquisition of the Victoria Falls Solar Park project in Zimbabwe from Broomfield International Ltd, following due diligence.

20 May 2022 17:44

IN BRIEF: Kibo Energy issues shares to pay off outstanding loan

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.

20 May 2022 13:37

Kibo Energy taps Cobus van der Merwe as group CFO

(Sharecast News) - Kibo Energy announced the appointment of Cobus van der Merwe as group chief financial officer on Friday, with effect from 1 June.

20 May 2022 07:56

IN BRIEF: Kibo Energy taps outsider as new chief financial officer

Kibo Energy PLC - group with energy projects in Africa and UK - Appoints Cobus van der Merwe as its new chief financial officer from June 1. The current finance chief, Pieter Krugel, is leaving Kibo to join Mast Energy Developments PLC as chief executive from June 1.

17 May 2022 08:05

IN BRIEF: Kibo Energy signs five-year battery deal with Enerox

Kibo Energy PLC - energy projects in Africa and UK - Signs a rolling five-year agreement with Vienna-based Enerox GmbH to develop and sell CellCube-based vanadium redox flow batteries in selected sectors in southern Africa. The contract seeks to deliver a project pipeline expected to exceed at least 1 gigawatt over the course of five years.

1 Apr 2022 07:41

IN BRIEF: Kibo Energy extends redemption date of convertible loan note

Kibo Energy PLC - Africa- and UK-focused energy project company - Agrees to further extend for three months the redemption date of the convertible loan note with all remaining noteholders. The new extended redemption date will now be July 1. The further extension includes notes in aggregate of GBP657,985. Kibo Energy is settling outstanding fees owing to directors and management by the issue of a 7% convertible loan note redeemable instrument.

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IN BRIEF: Kibo Energy names Cobus van der Merwe as chief executive

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