Kibo Energy Share News (KIBO)

Kibo unit Mast Energy mulling options against joint venture partners

(Alliance News) - Mast Energy Developments PLC said Tuesday it is considering various options after Proventure Holdings (UK) Ltd failed to "remedy" its "material breach" of the joint venture agreement.

Mast Energy shares tumble after new share plan and loan deal

Mast Energy Developments PLC said on Tuesday its Chief Executive Officer Pieter Krugel will partially settle GBP325,000 loan with RiverFort Global Opportunities PLC, the institutional lender, under a "reprofiling agreement".

Mast Energy annual loss widens on Pyebridge plant setback, high costs

(Alliance News) - Mast Energy Developments PLC on Tuesday reported that its annual loss worsened after its 9-megawatt Pyebridge flexible power generation plant ran into technical and market related challenges.

IN BRIEF: Kibo unit Mast Energy passes satisfactory performance test

Mast Energy Developments PLC - developer of reserve power generation plants - Receives official confirmation that its 9-megawatt Pyebridge flexible power plant has passed its "satisfactory performance days" requirements under its current existing T-1 capacity market contract. This means that Pyebridge will retain the current capacity market contract's associated annual gross profit margin income of GP308,000, which is paid and received monthly in arrears.

Kibo Energy reports positive progress at MED subsidiary

(Sharecast News) - Kibo Energy updated the market on its subsidiary Mast Energy Developments (MED) on Thursday, reporting the successful completion ahead of schedule of the initial first-phase work programme at its Pyebridge 9MW flexible power generation asset.

IN BRIEF: Mast Energy finishes phase one work at Pyebridge plant in UK

Mast Energy Developments PLC - developer of reserve power generation plants - Says phase one work programme at its 9-megawatt Pyebridge flexible power generation plant in Derbyshire, England is completed ahead of schedule. Plans to start second phase work programme shortly. Says the phase two will be performed in separate consecutive tranches and is expected to take around six to eight weeks per generator set. Notes the cost of the second phase will be funded under the new funding agreement it recently announced. Mast Energy signed an initial funding facility up to GBP4.0 million with RiverFort Global Opportunities PCC Ltd, earmarked for Pyebridge.

Kibo Energy subsidiary MED strikes new funding partnership

(Sharecast News) - Kibo Energy announced on Wednesday that its flexible power specialist subsidiary Mast Energy Developments (MED) had struck a strategic funding partnership with RiverFort Global Opportunities PCC (RiverFort), along with a substantial funding agreement, a new capacity market contract, and the termination of the Proventure joint venture agreement.

IN BRIEF: Kibo unit Mast Energy inks new GBP4 million funding deal

Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Signs a funding agreement, with an initial funding facility up to GBP4.0 million, with RiverFort Global Opportunities PCC Ltd. RiverFort owns around 12% stake in in Kibo and Mast. Says initial funding will be used to lift its Pyebridge 9-megawatt flexible power generation asset out of care and maintenance. Says further funding of up to GBP4 million will be used to fund Pyebridge's overhaul work programme in order to achieve full generation.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Kibo Energy makes "advancements" in green energy projects

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says it has recently made "advancements" in developing sustainable energy solutions, though progress has been limited given constraints around funding. Back early in July, it said all funding activities were placed on hold due to delays as a result of "difficulties" at its extraordinary general meeting. A month earlier, Kibo had reported that five of a total of eight resolutions failed to reach the minimum threshold of 75% of the vote at an EGM.

IN BRIEF: Kibo Energy pays part of loan via shares; director retires

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Allots 500 million new shares to RiverFort Global Opportunities PCC Ltd, representing conversion of accrued fees and interest totalling GBP161,000. Says it now owes the outstanding balance of GBP1.1 million to RiverFort under the facility restatement agreement dated April 10, 2023. The original facility agreement was signed on February 16, 2022. Kibo has 3.8 billion shares in issue.

AIM WINNERS & LOSERS: CMO battles construction sector headwinds

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

Kibo and Mast Energy still await Proventure joint-venture payment

(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.

Joint-venture partner Proventure misses Mast Energy payment again

(Alliance News) - Mast Energy Developments PLC on Tuesday said partner Proventure Holdings (UK) Ltd missed the latest deadline to make a partial initial interim payment required under their joint venture agreement.

Kibo unit Mast Energy extends deadline for JV payment after assurances

(Alliance News) - Mast Energy Developments PLC on Friday said it gave partner Proventure Holdings (UK) Ltd more time to make the initial interim payment of GBP2 million required under their joint venture agreement.