made it into the financial press27 Feb 2019 14:22
Kibo Energy Shares Rise as Subsidiary Eyes Flexible-Power Sites
Kibo Mining (LSE:KIBO)
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Today : Wednesday 27 February 2019
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By Adam Clark
Kibo Energy PLC (KIBO.LN) shares rose on Wednesday after the company said its MAST Energy Developments Ltd. subsidiary has signed a preliminary agreement for the potential acquisition of five U.K. flexible-power sites.
Kibo said that under the deal, MAST would have the exclusive right to acquire five "peaking" power sites with a total capacity of 25.8 megawatts from a prospective developer. Such sites operate at moments of peak electricity demand.
MAST has until April 8 to complete due diligence, Kibo said.
Shares at 1036 GMT were up 10% at 0.83 pence, having earlier reached 0.85 pence.
Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones