Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Allots 500 million new shares to RiverFort Global Opportunities PCC Ltd, representing conversion of accrued fees and interest totalling £161,000. Says it now owes the outstanding balance of £1.1 million to RiverFort under the facility restatement agreement dated April 10, 2023. The original facility agreement was signed on February 16, 2022. Kibo has 3.8 billion shares in issue.

Non-Executive Director Ajay Saldanha retires, with effect from Wednesday. Kibo says Saldanha’s retirement is due to his increased workload outside of Kibo. Says it is in the process of identifying a replacement non-executive director. Aslo says its Chief Financial Officer Jacobus van der Merwe has agreed to join the board, subject to completion of regulatory checks.

Current stock price in Johannesburg: 1.00 rand cents

12-month change: down 75%

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