Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
@BricksSA LC not made such a mess of Mast project delivery then the share price of Kibo would be higher and shareholders would have been happy to support a placing.
The fire sale announced yesterday is exactly the reason why shareholders were write to block him. Its time to do the only honourable thing and step down as CEO !
I don't think anyone doubts that if Kibo Energy Plc is to deliver its viable projects then equity needs to be raised. The point is that the current management team have a track record of delivery which speaks for itself (I include Katoro and Mast) and the majority of shareholders have zero confidence in the executive management team. Riverfort are not fools their loans to Mast and Kibo need to be repaid. Change will eventually come and shareholder confidence will be restored. VOTE NO TO RESOLUTIONS 1 - 5!
Another day another Kibo EGM! The Euroclear CDI solution for Irish companies listed on the LSE was a Brexit fudge that completely disenfranchised shareholders and no one cares. on 28 October 2022 Kibo released the following RNS" Due to ongoing technical difficulties relating to the casting of votes, most of Kibo’s largest shareholders were unable to cast their votes, despite the anticipation that these difficulties would be resolved in advance of the adjourned meeting. The Company did not wish to further adjourn the AGM, and therefore the board decided to proceed with the ordinary business of the AGM and withdraw from consideration the proposed resolutions 4 to 8."
What this means in practice is that Sanderson can now vote, why they continue to support the current board baffles me but is a matter for them!
WE WILL BE VOTING 125M SHARES AGAINST ALL RESOLUTIONS. PLEASE DO YOUR BEST TO VOTE AT THE EGM, IF YOU DO NOT THEN THERE IS NO POINT COMPLAINING ON THIS BOARD ABOUT KIBO MANAGEMENT!
@SABrick The company is due circa £1m from Mast Energy Developments Plc which is generating revenue, it also intends to sell in the waste to energy projects to a newco before spinning this out via an IPO, cash can either be raised from the sale of the waste to energy assets to the new entity or via vendor shares in the placing.ie. receiving vendor shares and then selling them in the placing.
And of course there is always the possibility that Kibo will actually receive cash or liquid assets for the disposal of the coal assets!
Shareholders must continue to vote against the authority to allot shares to force the directors to use alternative funding sources which are not dilutive.
Shareholders are stronger together @kiboaction.
@BricksSA Following the major shareholder rebellion on 28 October 2022 the Directors no longer have the authority to allot shares. Therefore there can be no placings or other dilutionary funding deals at the level of Kibo Energy Plc. Shareholders must continue to stop the death spiral of placing after placing with no tangible results from the Board. Please follow us on Twitter @Kiboaction for further details.