Kibo Energy PLC, a renewable energy development company, recently announced significant updates. These include a successful tranche placing, board changes, and plans for future developments.
Tranche 1 Placing Proceeds
Financial Details
Kibo Energy PLC has received £150,000 in proceeds from the Tranche 1 placing. The company issued and allotted 1,785,714,286 placing shares to Mr. Peter Williams. This financial boost will allow the audit of the 2023 accounts to proceed.
Table 1: Placing Proceeds Details
| Item | Details |
|---|---|
| Placing Proceeds | £150,000 |
| Shares Allotted | 1,785,714,286 |
| Recipient | Mr. Peter Williams |
Board Changes
New Appointments
The company announced several board changes. Mr. Jacobus Johannes van der Merwe has been appointed as an executive director and interim CEO. He replaces Mr. Louis Coetzee, who has retired from the board as director and CEO.
Retiring CEO
Mr. Louis Coetzee has retired but will continue to offer his services on a consultancy basis during the transition period.
Table 2: Board Changes
| Position | Outgoing | Incoming |
|---|---|---|
| Director & CEO | Mr. Louis Coetzee | Mr. Cobus van der Merwe |
| Executive Director | N/A | Mr. Cobus van der Merwe |
Total Voting Rights
Share Capital
Following the issue of the Tranche 1 Placing Shares, Kibo’s total issued share capital will consist of 6,146,662,050 Ordinary Shares of EUR0.0001 each.
Shareholder Notifications
This figure will be used by shareholders to determine if they need to notify any changes in their interests in the company’s share capital pursuant to the FCA’s Disclosure Guidance and Transparency Rules.
Table 5: Share Capital Details
| Item | Details |
|---|---|
| Total Issued Share Capital | 6,146,662,050 Ordinary Shares |
| Share Denomination | EUR0.0001 each |
Conclusion
Kibo Energy PLC’s recent tranche placing and board changes mark a significant period of transition for the company. The new appointments and financial proceeds will support the company’s future developments in the renewable energy sector. With a strengthened board and additional funds, Kibo is poised for continued growth and innovation in the industry.