Kibo down to circa 48%26 Oct 2023 07:28
Louis Coetzee, CEO of Kibo Energy, says: "After careful consideration of all funding options available to the Company it was decided that the best funding option under current circumstances, would be to realize cash for our on-going business requirements from the recent partial share settlement of our outstanding loan with MED, whilst still maintaining a major equity interest in the company. Retaining a significant investment in MED remains a strategic component of our business strategy which we see as a source of significant on-going value creation for Kibo and boosted by MED's recent announcement of the signing of a joint venture agreement with Proventure Holdings (UK) Ltd for the funding and development of its reserve power projects. "