Kibo Energy (CDI) (KIBO)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.038p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.080
  • 52 Week Low: 0.034
  • Currency: UK Pounds
  • Shares Issued: 4,360.95m
  • Volume: 237,433
  • Market Cap: £1.64m

Kibo Energy partially settles outstanding shareholder loan

By Josh White

Date: Thursday 05 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Kibo Energy announced on Thursday that it had received 31,646,424 new MED shares at a deemed price of 1.482p each as part of a partial settlement of £0.47m from its subsidiary, Mast Energy Developments (MED).
The AIM-traded firm said the transaction partially addressed the total outstanding amount that MED owed to Kibo's wholly-owned subsidiary, Kibo Mining Cyprus.

Post-settlement, MED still owed £0.76m to Kibo Cyprus.

With the acquisition of the new MED shares, Kibo's stake in MED was boosted to 147,811,746 shares, translating to a 56.02% interest.

Kibo said it was also actively working with advisors and funders to ensure that MED was sufficiently capitalised for its immediate financial needs.

Additionally, it said it was considering providing further short-term funds to facilitate MED's financial stability and ongoing projects amid efforts to finalise the previously announced MED joint venture.

Despite unexpected delays due to exceptional events previously disclosed, both the Kibo and MED boards remained optimistic that the joint venture could proceed as initially planned.

"We are pleased to announce the partial settlement of the MED Loan, which has been agreed on favourable terms to both Kibo and MED whilst minimising shareholder dilution in MED," said chief executive officer Louis Coetzee.

"The favourable settlement terms with the extended pricing period not only highlight Kibo's ongoing support of MED but also illustrate its firm belief in MED's future success and anticipated conclusion of its previously announced joint venture.

"We are committed to continuing to support MED and Kibo's other investments."

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

KIBO Market Data

Currency UK Pounds
Share Price 0.038p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.080
52 Week Low 0.034
Volume 237,433
Shares Issued 4,360.95m
Market Cap £1.64m

KIBO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
82.46% below the market average82.46% below the market average82.46% below the market average82.46% below the market average82.46% below the market average
58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average58.62% below the sector average
Income Not Available
Growth
26.44% above the market average26.44% above the market average26.44% above the market average26.44% above the market average26.44% above the market average
39.68% above the sector average39.68% above the sector average39.68% above the sector average39.68% above the sector average39.68% above the sector average

KIBO Dividends

No dividends found

Trades for 23-Apr-2024

Time Volume / Share Price
14:01 237,433 @ 0.036p

KIBO Key Personnel

CEO Louis Lodewyk Coetzee

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