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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kibo Energy Plc | LSE:KIBO | London | Ordinary Share | IE00B97C0C31 | ORD EUR0.0001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0375 | 0.035 | 0.04 | 0.0375 | 0.0345 | 0.0375 | 0.00 | 08:00:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 1.04M | -9.78M | -0.0026 | -0.15 | 1.51M |
TIDMKIBO
RNS Number : 1869J
Kibo Energy PLC
03 December 2018
Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
("Kibo" or "the Company")
Dated: 03 December 2018
Kibo Energy PLC ('Kibo' or the 'Company')
Strategic Development Agreement with SEPCOIII
Kibo Energy PLC ("Kibo" or the "Company"), the multi-asset, Africa focused energy company, announces an update regarding the Strategic Development Agreement signed with China based SEPCOIII ('SEPCOIII') involving equity investment in the Company by SEPCOIII. Further to the announcement dated 1 October 2018, in which a mutual decision to extend the deadline for an investment decision was announced, SEPCOIII has now requested a further extension.
The Board of Kibo intends to consider SEPCOIII's request at a Board meeting to be held this week and determine the terms which would be acceptable to the Company for such an extension, taking into consideration the recent strong interest received by the Company from other entities expressing their desire to participate in the development of Kibo's portfolio of energy projects.
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
For further information please visit www.kibo.energy or contact:
Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated Adviser on JSE ------------------- ----------------------- ------------------------- Ben Tadd / +44 (0) 20 3700 SVS Securities Limited Joint Broker Tom Curran 0093 ------------------- ----------------------- ------------------------- Jason Robertson +44 (0) 20 7374 First Equity Limited Joint Broker 2212 ------------------- ----------------------- ------------------------- Andrew Thomson +61 8 9480 2500 RFC Ambrian Limited NOMAD on AIM ------------------- ----------------------- ------------------------- Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media / 1177 Ltd Relations Adviser Gaby Jenner ------------------- ----------------------- -------------------------
Notes to editors
Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.
Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.
Johannesburg
03 December 2018
Corporate and Designated Adviser
River Group
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
AGRTJBPTMBMMMJP
(END) Dow Jones Newswires
December 03, 2018 03:15 ET (08:15 GMT)
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