(Alliance News) - Kibo Energy PLC on Thursday said it has issued shares to Sanderson Capital Partners Ltd in settlement of GBP169,719 pursuant to the forward payment facility signed in December 2016.
The Irish energy company said it has issued 65.3 million shares at a price of 0.26 pence each. Following the admission, Sanderson will hold 13% interest in Kibo.
This settlement represents 50% of the outstanding facility, with the remaining GBP169,719 is being settled in cash, in full and final settlement.
The settlement price is the closing price of the company's shares on AIM on Wednesday.
Kibo Energy shares were trading 1.2% lower in London on Thursday at 0.25p each. In Johannesburg, the stock was up 7.7% at ZAR0.14 a share.
In addition, the company noted that it has raised GBP697,726 following an exercise of warrants.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Kibo Energy (KIBO)