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Pin to quick picksKibo Energy Share News (KIBO)

Share Price Information for Kibo Energy (KIBO)

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IN BRIEF: Kibo Energy shareholders okay acquisition of green projects

Fri, 11th Oct 2024 13:33

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.

In line with the reverse takeover, Kibo is required to enlarged its share capital to be readmitted to AIM. A placing to accompany the reverse takeover will have a target raise of EUR30 million. The transaction is also subject to completion of due diligence and regulatory clearances. The assets Kibo plans to buy comprise 36 development projects, spanning 15 countries from early stage to under construction, with a target of 20 Gigawatts generation capacity within six years.

Kibo shares are suspended both in London and Johannesburg.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
11 Dec 2023 08:14

Mast Energy gets confirmation of GBP2 million initial JV payment

(Alliance News) - Mast Energy Developments PLC on Monday said it has received "sufficient" verbal and written confirmation from joint venture partner Proventure Holdings (UK) Ltd, and other funders that the initial interim payment of GBP2 million will be paid between this coming Friday and Wednesday next week, subject to signature of definitive agreements.

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7 Dec 2023 15:30

IN BRIEF: Kibo Energy faces stiff dissent at annual general meeting

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says 35% of shareholders reject resolutions on allotted equity securities, memorandum of association, and the articles of association of the company at an annual general meeting held on Thursday. These motions do not reach the minimum threshold of 75%. Failure to win approval for the memorandum of association and the articles of association of the company means the company cannot be updated at the companies registration office to reflect the reduction in par value and the increase in the authorised capital. Says all other resolutions are approved as they exceeded the required threshold of 50%, with around 24% opposing the re-election of Non-Executive Director Ajay Saldanha.

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1 Dec 2023 10:46

Mast Energy "very disappointed" as Proventure skips JV payments

(Alliance News) - Mast Energy Developments PLC shares fell on Friday as it and Kibo Energy PLC said joint venture partner Proventure Holdings (UK) Ltd has failed to make payments needed to complete the deal.

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1 Dec 2023 09:21

Kibo says joint venture partner missed payment deadline

(Sharecast News) - Kibo Energy announced on Friday that its subsidiary Mast Energy Developments (MED) has issued a formal notice of enforcement to Proventure Holdings UK for failing to meet the binding joint venture agreement (JVA) conditions.

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30 Nov 2023 15:29

UK shareholder meetings calendar - next 7 days

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13 Nov 2023 12:14

Mast Energy says Proventure delays GBP2.0 million initial payment

(Alliance News) - Mast Energy Developments PLC said it had extended the date for Proventure Holdings (UK) Ltd to make initial payment of GBP2.0 million to between November 15 and November 30.

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26 Oct 2023 09:08

IN BRIEF: Kibo Energy sells portion shares received from UK unit Mast

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells a portion of shares it received from its subsidiary Mast Energy Developments PLC. Disposes of 20.3 million shares, netting GBP259,845. Says it will use the cash for its on-going working capital needs, and to reduce its bridge loan facility with RiverFort Global Opportunities PCC Ltd. The share sale comes after Mast Energy early this month issued 31.6 million new shares to Kibo to partially settle a loan. The share payment amounted to GBP469,000. Kibo now owns 48% of Mast Energy, down from 56%.

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23 Oct 2023 11:45

Mast Energy signs definitive joint venture pact with Proventure

(Alliance News) - Mast Energy Developments PLC said on Monday it had signed a "replacement first definitive and binding joint venture agreement" with Proventure Holdings (UK) Ltd.

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5 Oct 2023 15:07

Kibo Energy partially settles outstanding shareholder loan

(Sharecast News) - Kibo Energy announced on Thursday that it had received 31,646,424 new MED shares at a deemed price of 1.482p each as part of a partial settlement of £0.47m from its subsidiary, Mast Energy Developments (MED).

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5 Oct 2023 11:07

IN BRIEF: Mast Energy offers new shares to partially settle Kibo loan

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its subsidiary Mast Energy Developments PLC has issued 31.6 million new shares to Kibo to partially settle a loan. The payment in the form of shares amounts to GBP469,000. Says the remaining outstanding shareholder loan owed by MED is now GBP762,535. Following the partial settlement, Kibo will hold 147.8 million shares, or 56.02% interest, in MED.

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4 Oct 2023 13:43

Kibo agrees sale of Botswana coal power project share

(Sharecast News) - Kibo Energy made a significant step in divesting its coal assets on Wednesday, striking a definitive share sale agreement for its coal interest in the Botswana power project with Shumba Energy.

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4 Oct 2023 07:44

IN BRIEF: Kibo Energy to sell stake in Botswana coal power project

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Agrees to sell its 35% interest in Kibo Energy Botswana Pty to Shumba Energy (Pty) Ltd for USD375,000. Says the disposal of the remaining stake in the Botswana coal-based power project is part of its plan to divest of all its coal assets. Kibo Energy Botswana consists of the Mabasekwa coal to power project, which had a nil carrying value as at December 31 with an associated loss before tax of GBO3.56 million.

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29 Sep 2023 09:15

Kibo Energy interim loss narrows, but still faces liquidity crunch

(Alliance News) - Kibo Energy PLC on Friday reported its first-half loss narrowed as the renewable energy group continued to face a liquidity crunch.

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22 Sep 2023 14:05

Katoro Gold narrows annual loss but cash may run out this month

(Alliance News) - Katoro Gold PLC shares fell sharply on Friday as it announced a narrowed loss but few available cash reserves, and said it needs further funds to support its ongoing working capital.

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22 Sep 2023 12:10

Kibo and Mast Energy shares fall as long-stop date extended again

(Alliance News) - Kibo Energy PLC on Friday said its subsidiary Mast Energy Developments PLC has extended the completion long-stop date for its first joint venture agreement.

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