Kibo Energy Share Discussion Threads

[dpr1881] 07/3/2023 07:47

@CJ41 In the parallel universe in which Kibo operate everything is going well. Unfortunately if you are a CEO of an Irish company listed on the LSE in such a universe Euroclear rules mean that the shareholders have been completely disenfranchised and you can continue with immunity.

[guitars4stars] 06/3/2023 16:23

Voted you up cj41

[cj41] 06/3/2023 15:43

If LC was removed I would vote for an increase in authorised shares. With him in place raising further funds is, in my view, totally pointless. The fact that he doesn't even get that he does not have the support of majority of Pis says it all.

[lurker5] 01/3/2023 09:36

He's trying to puff up MAST shares of course. Take a look on the MAST board.

[dpr1881] 01/3/2023 07:49

@CJ41 Your suggestion would require the Directors to act in the best interests of the company and its shareholders. It would go a long way to restoring confidence but somehow I doubt they will take such a decision! Why would you buy shares at this level with a material dilution imminent and why would you invest in a placing for the same reason? Well done Louis Coetzee take a bow!!!

[cj41] 01/3/2023 07:34

It's good to know that the first £650,000 of any monies raised in any future placing is going straight to the directors. That's about 650,000,000 shares issued for zero benefit for shareholders. Given the performance of the company and therefore it's management I think this should have been written off as a small gesture of contrition. No chance.

[lurker5] 27/2/2023 13:46

Yes indeed robinhoot - DYO(proper)R ! - and look on the Mast thread.

[frankandbeans] 27/2/2023 13:33

One to watch?

Well if you like watching your investment dissolve in value then yes, one to watch.

[robinhoo1] 27/2/2023 12:39

Excellent RNS out of subsidiary MED today.
Imo Kibo is one to watch.DYOR

[frankandbeans] 27/2/2023 09:24

Not sure that there’s much they can really say or do here to recover shareholder confidence, existing holders have been bent over for years and diluted to oblivion, any placing seems to have been detrimental to the share price, makes you wonder if those taking the placings have been short.

Either way it’s a broken flush, alas.

[dpr1881] 27/2/2023 06:27

@plentymorefish I wouldn't say the situation is tolerated, it's more the case that the way shares in Irish companies listed on LSE are held post Brexit has resulted in shareholders being denied fundamental rights, this facilitates CEOs who do not enjoy the support of the majority of shareholders clinging on to power.

[plentymorefish] 24/2/2023 09:37

LC should have gone/been removed years ago for consistent none delivery…̷0;the fact that he is still in situ leads me to believe that he will be to the end……I can’t think of any other corporate entity where the status quo aka failure has been tolerated for sooo long……if anyone has any other examples, I’m all ears…..

[dpr1881] 23/2/2023 10:07

I don't think anyone doubts that if Kibo Energy Plc is to deliver its viable projects then equity needs to be raised. The point is that the current management team have a track record of delivery which speaks for itself (I include Katoro and Mast) and the majority of shareholders have zero confidence in the executive management team. Riverfort are not fools their loans to Mast and Kibo need to be repaid. Change will eventually come and shareholder confidence will be restored. VOTE NO TO RESOLUTIONS 1 - 5!

[lurker5] 22/2/2023 19:03

That goes, perhaps even more, for Schaffalitski. (Doesn't come up on Google any more as associated with Kibo ! The r-t scuttling away under data protection no doubt) Took £70 k from shareholders each year (at last count) to preside over this scandal with an annual chairmans puff that gave impression all was well (Similar to his grotesque record at Eurasia Mining, including wheeling in the most blatantly dishonest share puffers in the form of 'ACF Research'. Watch out for attempts to do the same irt USE !) As for MAST. Its float price at 12p can be proved to have been a deliberate scam - with LC's lawyer's paws all over it. If enough victims would come together, I'm sure they could mount a successful prosecution. And all that doesn't even include the incompetent failure of due diligence at Blyvoor / KAT.

[cj41] 22/2/2023 18:05

Over the past 10 years a significant amount of all monies raised has been spent on admin costs of which the majority is Salaries. I see no point in further fund raising and would like to see the company wound up so that LC et al no longer can pick up significant income for achieving less than zero as they have done to date. The performance of KIBO has been appalling and the CEO has never acknowledged this fact, in fact still coming out with ridiculous statements about having created an energy company. It's worse than laughable. Why would anyone invest in anything associated with LC? Other than excessive up front fees and a guaranteed quick return from dumping discounted shares quickly into the market. What happened to the sale of the coal assets? We were finally told they have little or no value. Bordesley, still waiting 3 years lte etc etc etc

[lurker5] 22/2/2023 11:07

Turkeys voting for Christmas in any case. 6 Bn shares in issue measns all the poor hopefuls of a few years ago will have been effectively wiped out - regardless what LC pulls out of the hat from now on. Sanderon also hoisted by their own petard. Divine justice for its own Doh!forts '30p target shareprice' back in days of yore !

[dpr1881] 22/2/2023 10:30

THE EURO CLEAR SYSTEM MAKES IT DIFFICULT TO VOTE. YOU NEED TO ACT NOW BY INSTRUCTING YOUR BROKER!

[dpr1881] 22/2/2023 10:29

Another day another Kibo EGM! The Euroclear CDI solution for Irish companies listed on the LSE was a Brexit fudge that completely disenfranchised shareholders and no one cares. on 28 October 2022 Kibo released the following RNS" Due to ongoing technical difficulties relating to the casting of votes, most of Kibo’s largest shareholders were unable to cast their votes, despite the anticipation that these difficulties would be resolved in advance of the adjourned meeting. The Company did not wish to further adjourn the AGM, and therefore the board decided to proceed with the ordinary business of the AGM and withdraw from consideration the proposed resolutions 4 to 8."
What this means in practice is that Sanderson can now vote, why they continue to support the current board baffles me but is a matter for them!

WE WILL BE VOTING 125M SHARES AGAINST ALL RESOLUTIONS. PLEASE DO YOUR BEST TO VOTE AT THE EGM, IF YOU DO NOT THEN THERE IS NO POINT COMPLAINING ON THIS BOARD ABOUT KIBO MANAGEMENT!

[cj41] 15/2/2023 18:32

Post from Sonofagun on the other board 'Cannot believe this old dog is still going'. The answer is that it isn't really. It's in its death throes whilst the BOD continue to draw salaries for the total and absolute destruction of shareholder value. The incompetence of the leadership team (if there ever was any leadership) is pretty difficult to comprehend. It has been a long term farce for which no one appears to accept any responsibility whatsoever. If life was fair in any way, which of course it isn't, LC should be offering a huge and equivocal apology to all existing and past PIs which, I believe, he has treated with contempt. Instead we get the same old stories reeled out again and again. All IMO.

[plentymorefish] 08/2/2023 19:57

That’ll be LC!……;)

[frankandbeans] 08/2/2023 18:16

Last one out turn off the light.

[cj41] 05/2/2023 18:46

It looks like the company is hanging on by its fingertips. There's probably a few more paycheques left yet. Just about. Recent RNS looked like a bit of desperation just to confirm the company exists and the BOD are doing something. Regardless of non-holder's views I still hold 10m of these useless shares and will be relieved when it's all over and the management team are no longer being paid for wrecking shareholder value for a ridiculous amount of time. Bordesley is still a year or more away and we were originally told it would be operational about 3 years (or more) ago. As far as KIBO itself is concerned it appears to have nothing left of any value, regardless of what RNSs tell us again and again. That pretty much sums it up.

[plentymorefish] 03/2/2023 18:15

Kibo…..not sure how I typed Lino instead!

[plentymorefish] 03/2/2023 18:14

I get the feeling it’ll all be over for Lino soon…….LC has burnt through a serious amount of cash over the years & has achieved what for shareholders exactly?…..

[frankandbeans] 03/2/2023 17:22

Well someone’s dumping.

Calm before the storm?