RNS18 Oct 2019 17:48
Placing completed...
Kibo Energy PLC ('Kibo' or the 'Company')
Completed Placing
Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce that further to the announcement dated 9 October 2019, it has raised £1,990,000 via the issue of 442,222,280 ordinary shares of par value €0.001 each ('New Ordinary Shares') through a placing at a price of 0.45 pence per New Ordinary Share (the "Placing Price") (the "Fundraising"). The proceeds from the Placing will be utilised primarily to further develop the Company's diverse energy portfolio and working capital requirements.
Louis Coetzee, CEO of Kibo, commented, "We are pleased to have raised capital during a particularly turbulent time in the global market through new and existing investors including the Directors. With this money, we will be able to continue developing our diverse portfolio of major energy assets towards commercialisation. We look forward to providing updates on progress in this regard in the near future."