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%.
Current stock price in Johannesburg: 1.00 rand cents
12-month change: down 80%
Current stock price in London: 0.051 pence
12-month change: down 73%
By Artwell Dlamini, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Kibo Energy (KIBO)
Mast Energy. (MAST)