Kibo Energy Share News (KIBO)

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.

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.

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.

UK shareholder meetings calendar - next 7 days

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.

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%.

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.

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).

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.

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.

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.

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.

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.

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.

Kibo subsidiary MED extends joint venture agreement due date

(Sharecast News) - Kibo Energy announced on Friday that its UK-based subsidiary Mast Energy Developments (MED) has extended the long-stop date for the completion of its first definitive and binding joint venture agreement (JVA).