Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKibo Energy Share News (KIBO)

Share Price Information for Kibo Energy (KIBO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0155
Bid: 0.014
Ask: 0.017
Change: 0.00 (0.00%)
Spread: 0.003 (21.429%)
Open: 0.0155
High: 0.0155
Low: 0.0155
Prev. Close: 0.0155
KIBO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Kibo and Mast Energy still await Proventure joint-venture payment

Mon, 08th Jan 2024 07:48

(Alliance News) - Mast Energy Developments PLC on Monday said its partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement.

The London-based subsidiary of Kibo Energy PLC also said it is in "advanced" discussions over an alternative source of short-term funding to ensure that any further delays regarding the joint venture agreement "will not unduly" hurt Mast's ability to meet its working capital needs.

Proventure failed to transfer of a first GBP1 million payment by no later than December 29. A second payment of GBP1 million is scheduled be transferred by no later than this coming Thursday.

The original deadline the interim payment of GBP2.0 million was November 10. Proventure also must pay the balance of the investment of around GBP3.9 million.

Back in October, Mast signed a binding JV agreement with Proventure. It had previously finalised a JV deal with a consortium led by Seira Capital Ltd, but the long-stop date was revised after Seira's principal was involved in a serious road accident.

On Monday, Mast said it understood the payment was delayed by a lack of coordination and by administrative difficulties on the side of Proventure over the holiday period.

Proventure Chief Executive Officer Srinivas Kona will be travelling to London soon to work with Mast Chief Executive Officer Pieter Krugel to address the overdue payments, as well as to finalise the outstanding administration to complete the JV transaction, Mast said.

"The past year has proven exceptionally challenging for MED, not only from a macro-economic perspective affecting most businesses globally, but also from a transactional perspective," Krugel said.

Kibo is a Galway, Ireland-based company with energy projects in Africa and UK. It owns 48% of Mast Energy.

In Johannesburg, Kibo shares were unchanged at 1 rand cent on Monday morning. Over 12 months, the stock is down 75%.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
11 Jan 2023 08:28

Kibo Energy resumes trading in London after picking nominated adviser

(Alliance News) - Kibo Energy PLC said on Wednesday it will resume trading on London Stock Exchange's AIM market after appointing Beaumont Cornish Ltd as its nominated adviser.

Read more
15 Dec 2022 16:05

IN BRIEF: Kibo receives GBP200,000 via sale of Mast Energy shares

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - In July, Kibo received 28.7 million new shares in Mast Energy Developments PLC, to partially settle GBP1 million of the outstanding shareholder loan owed to Kibo's subsidiary Kibo Mining Cyprus Ltd. Kibo has now sold 7.4 million of the shares for GBP239,514.

Read more
9 Dec 2022 15:31

IN BRIEF: Kibo faces suspension over nominated adviser, shares plunge

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Warns its shares will be suspended from the AIM on Monday if it does not find a nominated adviser, a financial services firm that shepherds a company onto the AIM. RFC Ambrian Ltd will cease to act as nominated adviser for Kibo from the close of business on Friday. Says it is in "very advanced discussion" with a new nominated adviser, with their appointment subject to completion of due diligence.

Read more
5 Dec 2022 13:15

IN BRIEF: Kibo Energy extends convertible instrument redemption again

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Agrees a further extension of five months months for the redemption date of the convertible loan note, with all noteholders. The new redemption date in now February 28. The further extension includes notes in aggregate of GBP657,985.

Read more
23 Nov 2022 12:37

IN BRIEF: Kibo Energy renews power purchase agreement in Tanzania

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Signs a renewed memorandum of understanding to supply power to Tanzania Electric Supply Co Ltd from its Mbeya power project. This project was first announced in February 2018. In terms of the renewed power purchase agreement, TANESCO will buy power with a capacity of 300 megawatts from Mbeya Power Ltd, a subsidiary of Kibo.

Read more
15 Nov 2022 13:10

IN BRIEF: Kibo Energy director Andreas Lianos exits after seven years

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Andreas Lianos retires as a director after seven years, with immediate effect, due to personal circumstances, Kibo says.

Read more
21 Oct 2022 15:44

UK shareholder meetings calendar - next 7 days

Monday 24 October 
Echo Energy PLCGM new ordinary shares conversion
Fintech Asia LtdAGM
Rural Broadband Solutions PLCEGM investment from Tiger Infrastructure Partners Fund and name change
Seraphim Space Investment Trust PLCAGM
Vast Resources PLCGM allotment of equity securities
Tuesday 25 October 
Hammerson PLCGM re proposed capital reduction
International Consolidated Airlines Group SAEGM 
Next Fifteen Communications Group PLCGM cash and share acquisition
Rio Tinto PLCGM re China Baowu Steel Group deal
Tritax EuroBox PLCGM Investment Management Agreement
Vertu Capital LtdGM readmission of ordinary shares
Wednesday 26 October 
JPMorgan Global Growth & Income PLCAGM
KCR Residential REIT PLCAGM
International Consolidated Airlines Group SAEGM aircraft purchase
Mid Wynd International Investment Trust PLCAGM
Mirada PLCAGM
Omega Diagnostics Group PLCAGM
Woolworths Group LtdAGM
Thursday 27 October 
Alumasc Group PLCAGM
Brooks Macdonald Group PLCAGM
City Of London Investment Trust PLCAGM
Filtronic PLCAGM
Hargreaves Services PLCAGM
National Milk Records PLCAGM
Ovoca Bio PLCAGM
PCI-PAL PLCAGM
Provexis PLCAGM
Real Good Food PLCAGM
South32 LtdAGM
TheWorks.co.uk PLCAGM
TruSpine Technologies PLCAGM
Tufton Oceanic Assets LtdAGM
Wesfarmers LtdAGM
Friday 28 October 
ITM Power PLCAGM
Kibo Energy PLCAGM
Mattioli Woods PLCAGM
Shepherd Neame LtdAGM
Tirupati Graphite PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
29 Sep 2022 12:04

Kibo Energy to spin-out renewable, clean energy portfolio

(Sharecast News) - Kibo Energy is proceeding with a proposal for an initial public offering to be named Ultimate Sustainable Energy (USE), it announced on Thursday, as part of its corporate strategy towards "significant" renewable and clean energy developer status.

Read more
29 Sep 2022 11:24

AIM WINNERS & LOSERS: Attraqt agrees buyout; Pathfinder surges

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

Read more
29 Sep 2022 09:00

Kibo Energy to spinout renewable energy generation assets through IPO

(Alliance News) - Kibo Energy PLC said on Thursday it was proceeding with a proposal for an initial public offering of its "spinout" named Ultimate Sustainable Energy Ltd.

Read more
23 Sep 2022 10:42

IN BRIEF: Kibo Energy shares down on widened interim loss

Kibo Energy PLC - Galway, Ireland-based energy company - Posts revenue of GBP305,384 in the six months to June 30, compared to none a year ago. Pretax loss widens to GBP2.0 million from GBP1.8 million, as administrative expenses increase by 9.1% to GBP1.2 million from GBP1.1 million a year ago.

Read more
21 Sep 2022 14:01

Kibo Energy acquires UK waste to energy project for GBP600,000

(Alliance News) - Kibo Energy PLC on Wednesday said it has agreed to acquire an advanced UK waste to energy project based in Southport, England.

Read more
16 Sep 2022 14:13

IN BRIEF: Kibo Energy postpones AGM after system voting difficulties

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Postpones its annual general meeting due to difficulties voting through the Euroclear system experienced by several shareholders. The company received requests from some shareholders to adjourn Friday's AGM. The meeting will reconvened no later than October 28.

Read more
9 Sep 2022 16:10

UK shareholder meetings calendar - next 7 days

Monday 12 September 
Haydale Graphene Industries PLCGM re fundraising
SDCL Energy Efficiency Income Trust PLCAGM
Warehouse REIT PLCAGM
Tuesday 13 September 
Alpha Financial Markets Consulting PLCAGM
Industrials REIT LtdAGM
Mercia Asset Management PLCAGM
R&Q Insurance Holdings LtdSGM
Rockwood Strategic PLCAGM
Wizz Air Holdings PLCAGM
Wednesday 14 September 
Augmentum Fintech PLCAGM
B90 Holdings PLCAGM
Best of the Best PLCAGM
Dev Clever Holdings PLCAGM
Fulcrum Utility Services LtdAGM
Grafenia PLCAGM
Hornby PLCAGM
Marlowe PLCAGM
Purplebricks Group PLCAGM
Sutton Harbour Group PLCAGM
Thursday 15 September 
Altitude Group PLCAGM
Auto Trader Group PLCAGM
Blue Planet Investment Trust PLCAGM
Civitas Social Housing PLCAGM
finnCap Group PLCAGM
FRP Advisory Group PLCAGM
Kinovo PLCAGM
PetroTal CorpAGM
Predator Oil & Gas Holdings PLCAGM
Real Estate Credit Investments LtdAGM
Ryanair Holdings PLCAGM
Sosandar PLCAGM
Supreme PLCAGM
VSA Capital Group PLCAGM
Friday 16 September 
Baillie Gifford US Growth Trust PLCAGM
Gowin New Energy Group LtdAGM
Kibo Energy PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
25 Aug 2022 13:11

Kibo Energy to investigate replacing coal with specific biofuel

(Sharecast News) - Kibo Energy has initiated a process for requests for proposals to investigate the feasibility of replacing coal with renewable biofuel in its power projects, it announced on Thursday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.