Kibo Energy Share Discussion Threads

[barts] 28/1/2022 10:02

Time is running out if an EGM needs to be called…..5% of shareholding required which is possible if David and Yakoub are not happy with the current board of directors….a vote of no confidence from me.

[dpr1881] 28/1/2022 09:15

@iamthebest

I agree but what are you going to about it???

Shareholders are stronger together but no one will join me??

My correspondence with Noel O'Keefe seems to have been closed in his mind at least with a suggestion from him that I raise my points at the next AGM.

Ironic coming from a man who hid behind the cloak of COVID-19, a cynic might suggest this was to avoid the wrath of shareholders !!

[cj41] 26/1/2022 17:09

Unfortunately LC should have been removed a long time ago. Many are realising far too late as the damage here has already been done and I suspect is not reversible and will most likely be made worse by further value destroying actions of LC et al. I think the way that communications have been handled by the company has been atrocious and has not been helped by any of the Investor Relations firms which KIBO has employed over the years. IMO the current lot have certainly not covered themselves in glory and run the risk of being seriously tainted by their continuing association with KIBO. All IMO. I note Drax losses on the other side, for which he has my sympathy but I wish my loss was that small rather than many multiples of it. All my own fault of course but with a huge amount of assistance from LC and the rest of the BOD.

[yaki] 26/1/2022 15:13

Very good posts in the last day or so.

As a large holder here, I agree with all the points raised.

Big question is - if you look at the NAV of ONLY listed assets, KIBO share price should be more like 0.3p than 0.15p, but why no one is buying? Two answers
- the always-on fear of more reckless share placings by Kibo directors
- judging by the debacles at Blyvoor, Bordesley, Waste to Energy etc etc - complete lack of any confidence that current management is able to deliver anything

[dpr1881] 26/1/2022 12:16

@ Iamthebest

I agree all of your concerns and note your actions.

The Directors are ultimately accountable to shareholders and they should not be allowed to forget this.

I control circa 1.4% of the shares in Kibo which may be increased further in the coming weeks and months.

Following the announcement on 7 January 2022 it is clear a less passive investment strategy is required.

To be clear I think the strategy of moving away from coal and into the reserve energy market has massive potential. What I am seeking is clarity and a clearly communicated plan to achieve real shareholder value. Kibo's share price as the potential to increase by a significant multiple but not if the directors continue along the present path!

[dpr1881] 26/1/2022 09:24

@ Iamthebest


I invested in this company not because of the protentional of coal but because I believe the Reserve Energy Market has huge protentional.


The directors have a fiduciary responsibility to the company and its shareholders.

I am of the view that directors should be rewarded with equity for success not failure!

For me the RNS announcement of 7 January 2022 has crossed a line.

Change is needed quickly!

My goals are simple:

1)For the company to set out a clear strategy for the disposal of the coal assets in a manner which will realise shareholder value.

2) To set out a clear strategy for achieving shareholder value via the Reserve Energy Market, not just selected fact via RNS.

3) To openly engage with shareholder in a public forum such as a General Meeting. The decision to hold the last EGM behind closed doors demonstrated a complete disregard for shareholders, what is wrong with zoom etc??

If shareholder value is not achieved in the medium term and the company's realisable assets significantly exceed its market cap then it should be wound up in the interest of its shareholders!

Change is only achieved through shareholder action not moaning on platforms such as this.

For shareholders to achieve change they need to VOTE!

There are other actions which we can take such:

1) Direct engagement with the directors.

I have in recent days asked a number of questions of Mr O’Keefe in relation to the RNS announcement of 7 January 2022 and the 2020 Financial Statements.

I would encourage other shareholders to do the same ([e-mail]).

2) Complaints to the various regulatory authorities, exchanges and professional bodies in the UK and Ireland. If there are grounds for complaint regarding the signed Financial Statements, the statements made by and the conduct of directors.

If no one on this platform is going to join then fine but take action yourselves!!

Anyone who is interested please email me at [e-mail]/

[dpr1881] 25/1/2022 12:06

CJ41

The directors are appointed by the shareholder and are therefore accountable if the shareholders stand up to be counted.

Do you hold shares in Kibo? Please email me if you do.

[cj41] 25/1/2022 11:31

The biggest question is 'what is actually going on?' Is the company still a going concern? What has happened to the Coal assets (whatever they might be)? What has happened to Bordesley? What timescales, if any, is the company working to now on all the projects? LC has no deadlines, no targets, does not engage with shareholders and appears to be completely unaccountable. That cannot be right.

[lurker5] 25/1/2022 11:30

for DPR1881 on the thread which 'bans' anyone posting contrary to the man who thinks he knows best
Best of Luck. I've asked similar questions before and at shareholders's Q's and A's and been ignored. I've also asked the Nomad and the FCA. Ditto, If you want to know the value of the intangibles, look at all the Reports and Accounts going back tp c 2014 (something you should do for any share you're invested in). You'll see the coal was writen off at one point.

[dpr1881] 25/1/2022 11:17

I have written to the company asking questions about the 2020 Financial Statements around the related party disclosures on the amounts due to directors at the year end which are now the subject of the CLNs as well as the carrying value of the intangible assets.

Only 301,176,876 votes were cast at the recent AGM this is only circa 12.5% of the shares in issue at the time.

Change is within our grasp.

If anyone here is serious about change please email me with details of your shareholding at [e-mail]

[dpr1881] 25/1/2022 09:55

There are some serious questions to be asked not only about future plans but also about the 2020 Financial Statements.

There is no point in ranting on platforms such as this taking organised action is the way to effect change.

[guitars4stars] 24/1/2022 18:54

Very good post by the way DPR1881.Lovely to see ideas over agenda anytime!Pondering:)

[dpr1881] 24/1/2022 08:53

@Iamthebest

In my opinion there is a total disconnect here between shareholders and management.

I am considering setting up a shareholder action group to effect change, we need:

1) Communication of a clear strategy to achieve shareholder value.

2) Fully budgeted business plans rather than RNS announcements of selective facts.

Where an increase in shareholder value is not achieved, an orderly wind up of the company should be undertaken followed by a distribution of the assets in specie to the shareholders.

What are your thoughts?

[frankandbeans] 22/1/2022 08:03

At least two of those accounts are the same person.

Any more?

[frankandbeans] 21/1/2022 21:21

Getting a good measure of your accounts now.

Guitarsforstars
Iambestone
Blueskyprofit

Any more?