Member Info for JDwag

Interesting passage:

'Mast Energy Developments Ltd ('MED') has also reached an advanced stage in finalizing a framework agreement with Statkraft Markets Gmbh, which will govern the PPA's for additional MED acquisitions currently in process towards establishment of a MED power portfolio of at least 100MW. Kibo/MED looks forward to a long and rewarding working relationship with Statkraft". '

JD

SEPCO buying in would be great, but it’s now a year since that news and we have no real idea if that is really still an option or not. For example, does the Wimmer Deal now alter any deal with SEPCO when it came to either the Debt or Equity and as such does it make sense for SEPCO? I don’t know. SEPCO will still be the EPC Contractor anyway so maybe that is all they want?

My money is still on a further drawdown of the Sanderson Facility. BTW that doesn’t mean that is a particular catastrophe, far from it, we PIs always assume the worst, it maybe that all the relationships in the background are very rosy and all are pulling in the same direction for example in terms of strategy, in fact, if it wasn’t would our partners really have just taken shares for 5.25p a go for their Bordersley interest knowing that they are about to be diluted to oblivion or the preverbal rug will be pulled out from under their feet?

JD

The 800Lb Gorilla in the room is future funding and we will have to wait until the posting of the AGM Notice to see if they are proposing anything in the way of altering the par value or share allocations ceilings(s).

But considering Sanderson’s and Shumba’s current holdings I just can’t see them agreeing to a wholesale change in ceiling(s) and allowing (the potential at least) their percentage holdings to be utterly destroyed.

Time will tell I guess…..

JD

No shareholder resolutions or form of proxy in these accounts. So will need to wait for that to be issued with the notice of AGM. Going Concern part doesn’t paint a detailed picture but doesn’t cause concern, either. As suspected. They’ll be cutting their cloth accordingly in the background. JD

Has just been posted. Can’t read it just now but will be interesting to check if the par value ceiling has been changed? Or the new numbers of ordinary shares that can be issued has also changed? JD

https://www.telegraph.co.uk/news/2019/06/27/tanzania-suspends-10-billion-port-project-new-blow-chinas-belt/ Interesting on a few levels..... JD

These days are two steps forward and three back on good news. The market itself is a rotting corpse of a place. You could see from the early Trading what was going to happen and it’s played out. It’s even worse in summer as volume drops off. If you believe in the story here it’s an accumulate period and prepare for the upswing which will happen in due course here. JD

On a postcard over that start.....’someone’ peppered the SP with sells every 5/10 seconds and there was instant matching sells to large buys within seconds. Good old AIM. JD

*par value ceiling. JD

No. Just checked the last annual report. 1 Billion ordinary shares allowed to be allocated. So they'd need a new / special resolution to change either that or the parties already ceilings. Page 43 of last annual results. JD

Found it. Allocated ordinary shares allowed currently is 1 Billion at €0.015. JD

There could be that, yes. Only a few days to tell I'd think anyway. JD

From memory what is the current ceiling? 1 Billion shares was it? Sorry, mobile tonight and can't check. JD

I meant to say watch out for any / lack of any resolutions to change the ceiling at which / how many shares KIBO can issue. JD

The notice of AGM along with any (or lack thereof) voting resolutions will be very interesting, Wimbo. One to look out for. My own thoughts are none of the partners are in any mood to have any of their shareholding obliterated by 1.3p placings. What today has shown IMHO is that they have decided to use 5.25p as the floor at which they will allow new shares to be issued. This goes back to the same price of the original MED price and also what the ‘investors’ bought in at last Summer. It’s also just below the 6p Shumba was brought in at. Time will tell if I’m right. JD

I’m all for a placing to progress towards Benga FC. Either way, only a fool wouldn’t understand we need further capital in some way shape or form before (hopefully as is planned) future revenues come to help out on that matter. But I just don’t know if that will be the 1.3p for a traditional market type placing that some are expecting. I still think more than likely it’s Sanderson for a further drawdown and they then covert when the SP is much higher. Say at 5:25p IMHO. Just my own musings. JD

Very little on AIM holds on to their immediate / daily gains on news anymore. The key is that we are building a solid foundation from which to build off of, and thanks to our CEO we are.

Incremental steps will do me nicely.

JD

Agreed. JD

Performancing well today also. Well done LC. JD

So having witnessed how the 5Mw for Bordersley has panned our you would reasonably expect the next 20.2Mw project under JDA negotiation would go through the same gears, and at which point Kibo would take 100% ownership of that too? Also, the passage below from LC is new in that we have never seen the 100Mw figure having been stated before. Looks very bullish medium to long term here when you have a partner taking shares at a massive premium. Looks like there will be a lot of MED RNSs over the summer IMHO: ‘MED is focused on acquiring and developing a portfolio of small-scale Reserve Power generation projects totalling circa 100MW, initially in the UK, to balance out the national grid at critical times. In line with this strategy, and as per the RNS' dated 21 May and 21 June 2019, MED acquired a 100% interest in its first site, Bordersley, which will comprise a 5MW gas-fuelled power generation plant supported by a Grid Connection Offer and a Gas Connection Offer and is targeted for commercial commissioning end Q1 2020.’ JD