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Pin to quick picksKibo Energy Share News (KIBO)

  • This share is currently suspended. It was suspended at a price of 0.012

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Kibo Energy suspended from London's AIM; Mast Energy eyes acquisition

Mon, 01st Jul 2024 11:51

(Alliance News) - Kibo Energy PLC said on Monday London's AIM temporarily has suspended trading in its shares on Monday for failing to publish accounts & admission of the placing shares by Sunday.

Kibo has said is working "diligently" to have the accounts ready for publication at the end of July to early August.

Separately, Kibo also said its subsidiary Mast Energy Developments PLC is in advanced discussions over the potential acquisition of an existing operational 10-megawatt flexible power generation site located in south-western England.

The potential acquisition will be subject to final due diligence, contract, funding, and the usual various clearances and approvals associated with a transaction of this nature.

Mast Energy described talks as "positive", but it warns it cannot "guarantee on what terms or on what timeline the deal will occur".

Also, Mast Energy said it has completed overhaul of the first generator set at its 9-megawatt Pyebridge flexible power plant in Derbyshire, thanks to funding from RiverFort Global Opportunities PCC Ltd.

"We are very pleased that the overhaul of the first genset at Pyebridge has now been successfully completed according to plan, timeline and budget," Mast energy Chief Executive Officer Pieter Krugel said.

"Further, we are excited about the prospect of the Potential Acquisition, and although there is no guarantee on the current terms or timeline, we are working diligently to progress and complete the transaction as quickly as possible."

Kibo Energy PLC holds a 55% stake in Mast Energy.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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11 Oct 2024 13:33

IN BRIEF: Kibo Energy shareholders okay acquisition of green projects

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.

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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1 Oct 2024 08:57

IN BRIEF: Kibo Energy sells Mast Energy stake to partially settle loan

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells remaining 19.5% interest in Mast Energy Developments PLC to shareholder and creditor RiverFort Global Opportunities PCC Ltd to partially settle a loan of GBP462,871. Sells 83.2 million Mast shares for GBP120,074, 0.14 pence per share, reducing the outstanding balance on the RiverFort loan to GBP342,797. RiverFort owns around a 3.3% shareholding in Kibo.

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19 Sep 2024 15:47

IN BRIEF: Kibo Energy signs agreement to sell Cyprus unit Kibo Mining

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Signs an agreement to dispose of its wholly owned Cyprus subsidiary Kibo Mining (Cyprus) Ltd. This disposal is one of the conditions after Kibo agreed to acquire a diverse portfolio of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million, or around ZAR7.86 billion. Says it will seek shareholder approval for the disposal at a general meeting.

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Kibo Energy agrees to acquire green projects for EUR400 million

(Alliance News) - Kibo Energy PLC said on Monday it has inked a binding term sheet to acquire a diverse portfolio of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million, or around ZAR7.86 billion.

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12 Sep 2024 11:29

IN BRIEF: Mast Energy first refurbished genset lifts revenue in July

Mast Energy Developments PLC - developer of reserve power generation plants - Reports that first refurbished 2.7-megawatt generator set, or genset, at its Pyebridge flexible power plant generated revenue amounting to GBP66,000 in July, up 16% from GBP57,000 previously reported following receipt of imbedded benefits. Preliminary revenue for August is GBP46,000 before receipt of imbedded benefits.

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30 Aug 2024 10:42

Mast Energy interim loss shrinks amid refurbishment at power plant

(Alliance News) - Mast Energy Developments PLC reported on Friday that it reduced its interim loss as the company carried out maintenance and refurbishment at its Pyebridge power plant.

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23 Aug 2024 20:42

FTSE Russell to remove certain companies on suspension of dealing rule

(Alliance News) - FTSE Russell on Friday said a number of companies will be removed from the FTSE Russell Index after being suspended for 40 business days without an indication of resumption.

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20 Aug 2024 10:35

IN BRIEF: Kibo unit Mast Energy starts to revamp second generator set

Mast Energy Developments PLC - developer of reserve power generation plants - Starts to refurbish its second generator set, or genset, at its Pyebridge flexible power plant in Derbyshire, England. Says RiverFort Global Opportunities PCC Ltd has agreed to provide GBP1.1 million to fund this second genset overhaul, as part of a third advance against the project finance agreement. In February, RiverFort committed to an initial funding facility up to GBP4.0 million.

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7 Aug 2024 13:48

IN BRIEF: Mast Energy shares rally as new generator set earns revenue

Mast Energy Developments PLC - developer of reserve power generation plants - Says its first refurbished generator set, or genset, achieves GBP56,689 in revenue in first month of its operation at its Pyebridge flexible power plant in Derbyshire, England. The refurbished genset started commercial operation on July 1. Mast says it has carefully monitored the refurbished genset to ensure optimal performance.

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6 Aug 2024 08:33

IN BRIEF: Kibo Energy completes share placing; Williams has 28% stake

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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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18 Jul 2024 11:36

IN BRIEF: Kibo Energy formally appoints Clive Roberts as new chair

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Formally appoints Clive Roberts as its new chair. Late last moth, Kibo named Roberts, a shareholder in Kibo, as a non-executive director and chair as part of the board shake-up. Early this month, picked as Cobus van der Merwe as an interim chief executive officer. Van der Merwe is the chief financial officer. It also said Louis Coetzee retired as the CEO.

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Kibo raises £0.15m to continue delayed audit, appoints interim CEO

(Sharecast News) - Renewable energy developer Kibo Energy announced the receipt of £0.15m on Friday, in first trance placing proceeds, to enable the continuation of the audit for the 2023 accounts.

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5 Jul 2024 07:41

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

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.

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