Member Info for Deecay

“Kibo has always played it straight....”. If you think the Classrooms were just a charitable statement then you are being very naive. And speaking of naivety, LC always claimed he had a special relationship with Tanzanian Government. A definite error of judgement there. If he knew Tanzania as well as he claimed he should have recognised the changing political landscape.

We are in the dark with respect to the projects in Botswana and Mozambique, and then there is the Bordesley, or is it Bordersley, project which we were assured would be operating Q4 2019, then Q1 2020, all pre- Covid but as we now know it has been delayed to Q4 2020 - because of Covid.

Xerxes, you are defending LC in much the same was as I did for the past 6 years, I fear your faith and trust in the man will turn out to be misplaced ....just as mine was.

Thanks for the lecture xerxes. Of course LC wasn’t criticised when he was initially promising to deliver. The criticism has justifiably followed because of the abject failure to deliver any of the projects and the lack of details as to the progress and current status.
I was one of those at the time willing to offer LC support against his critics because I thought he was capable of achieving things, but history has proved me to be wrong and since I previously supported him and have been let down, then I feel I have the right to now change my opinion and stance.
If he is unable to close the deals he should do the honourable thing and allow someone else the opportunity.
He is paid a very generous salary package in UK terms which is extremely generous for SA based companies. LC, you’ve had the money, where are the goods?!

“ Louis Coetzee, CEO of Kibo, said: "The expansion of our agreement with GE is testament to both the quality of our projects and the strategy we are implementing in Africa to alleviate the acute energy deficit being experienced by many countries on the continent. We have three active and live projects which all present opportunities to leverage this agreement and optimise their delivery. We look forward to continued cooperation and delivering on our current and any potential future energy projects in tandem with GE and our other international partners for the benefit of all stakeholders."

Then prepare to be disappointed.

Kiwi “news as early as next week”, what’s your source for this statement?

Some good posts today from Wimbledon, Gillie and bcl. Certainly lots of relevant points raised that deserve a considered response from LC - I’m led to believe that LC reads this thread - will we get one, I very much doubt it.

They have worked together at a number of businesses so the term misplaced loyalty will inevitably protect LC. It isn’t as if CS needs a return from kibo now. He still draws his remuneration from our business.

Jeez yes, Katoro is up 1.82%!!

Kiwi, you have much to learn (including how and when to use to or too).

Kiwi, you misunderstood my question, what facts do you base your statement that there will be news very soon, or are you just ramping? I could list a lot more things than you have that we are awaiting news for but it doesn’t mean news will be any nearer in the future.

Kiwi, what is the basis for this statement:
“ The REAL news you seek is on it's way near term, as in only a couple of weeks”?

Gillie, I believe 51% is enough to get the proposals passed.

Thanks G2. Well considered points. I hope LC takes note.

Where did this Pilgrim1 joker suddenly spring up from - going to 0.5p today!.

Someone said that Elsie reads these posts but recently I suspect that he has followed the maxim, sometimes the truth is best avoided.
No-one with a conscience can surely continue to draw a salary which is totally disproportionate to what has been achieved the past 10 years. As for resigning............!

Why is the money needed, it’s not as though Elsie is running a business!!

Issue of Fee Shares in respect of Convertible Loan Note

Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused, energy company announces that it has now drawn down the first tranche of funding of GBP300,000 in respect of the funding facility for up to GBP1 million announced on the 25 June 2020 ("the Facility"). The terms of the Facility require the payment of a drawdown fee of GBP45,000 and legal due diligence fee of GBP18,000 (total of GBP63,000) to be paid to the lenders. Kibo has elected to pay this in Kibo shares in the amount of 28,636,364 new ordinary shares ("Fee Shares") at a nominal share price of GBP0.0022 (0.22p) which is the calculated 5-day Volume Weighted Average Price from the date on which the Company submitted its draw down request on the 17 July 2020. Consequently the 28,636,364 Fee Shares represent an aggregate amount of GBP63,000 at a share price of GBP0.0022.

A loser - his various remuneration packages would suggest otherwise!

A rumour of rumours is not very substantive!

Yes bc LC was often boasting about his great working relationship with the Tanzanian government. A lot of good that did us but at least the TG got a couple of free classrooms courtesy of kibo.