IN BRIEF: Kibo Energy raises GBP350,000 through share placing | Financial News
Summary
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Conditionally raises GBP350,000 via a placing of 4.17 billion new shares at 0.0084 pence each. The entire placing has been raised through the investor Peter Sion Williams. Says 2.38 billion shares will settle after shareholder at a general meeting to be held as soon as possible after settlement of tranche one.Kibo also says all creditor conversions are settled in full. Williams will be entitled to appoint one new director to the board following settlement of tranche one and further nominate one new director to the board following tranche two. Says both appointments will be subject to regulatory approval.
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