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.
Its shares are suspended both in London and Johannesburg.
By Artwell Dlamini, Alliance News reporter
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Kibo Energy (KIBO)
