(Alliance News) - Mast Energy Developments PLC on Friday said it gave partner Proventure Holdings (UK) Ltd more time to make the initial interim payment of GBP2 million required under their joint venture agreement. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - Mast Energy Developments PLC on Monday said it has received "sufficient" verbal and written confirmation from joint venture partner Proventure Holdings (UK) Ltd, and other funders that the initial interim payment of GBP2 million will be paid between this coming Friday and Wednesday next week, subject to signature of definitive agreements. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says 35% of shareholders reject resolutions on allotted equity securities, memorandum of association, and the articles of association of the company at an annual general meeting held on Thursday. These motions do not reach the minimum threshold of 75%. Failure to win approval for the memorandum of association and the articles of association of the company means the company cannot be updated at the companies registration office to reflect the reduction in par value and the increase in the authorised capital. Says all other resolutions are approved as they exceeded the required threshold of 50%, with around 24% opposing the re-election of Non-Executive Director Ajay Saldanha. Read More
(Alliance News) - Mast Energy Developments PLC shares fell on Friday as it and Kibo Energy PLC said joint venture partner Proventure Holdings (UK) Ltd has failed to make payments needed to complete the deal. Read More
(Alliance News) - Mast Energy Developments PLC said it had extended the date for Proventure Holdings (UK) Ltd to make initial payment of GBP2.0 million to between November 15 and November 30. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells a portion of shares it received from its subsidiary Mast Energy Developments PLC. Disposes of 20.3 million shares, netting GBP259,845. Says it will use the cash for its on-going working capital needs, and to reduce its bridge loan facility with RiverFort Global Opportunities PCC Ltd. The share sale comes after Mast Energy early this month issued 31.6 million new shares to Kibo to partially settle a loan. The share payment amounted to GBP469,000. Kibo now owns 48% of Mast Energy, down from 56%. Read More
(Alliance News) - Mast Energy Developments PLC said on Monday it had signed a "replacement first definitive and binding joint venture agreement" with Proventure Holdings (UK) Ltd. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its subsidiary Mast Energy Developments PLC has issued 31.6 million new shares to Kibo to partially settle a loan. The payment in the form of shares amounts to GBP469,000. Says the remaining outstanding shareholder loan owed by MED is now GBP762,535. Following the partial settlement, Kibo will hold 147.8 million shares, or 56.02% interest, in MED. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Agrees to sell its 35% interest in Kibo Energy Botswana Pty to Shumba Energy (Pty) Ltd for USD375,000. Says the disposal of the remaining stake in the Botswana coal-based power project is part of its plan to divest of all its coal assets. Kibo Energy Botswana consists of the Mabasekwa coal to power project, which had a nil carrying value as at December 31 with an associated loss before tax of GBO3.56 million. Read More
(Alliance News) - Kibo Energy PLC on Friday reported its first-half loss narrowed as the renewable energy group continued to face a liquidity crunch. Read More
(Alliance News) - Katoro Gold PLC shares fell sharply on Friday as it announced a narrowed loss but few available cash reserves, and said it needs further funds to support its ongoing working capital. Read More
(Alliance News) - Kibo Energy PLC on Friday said its subsidiary Mast Energy Developments PLC has extended the completion long-stop date for its first joint venture agreement. Read More
(Alliance News) - Mast Energy Developments PLC on Friday said it has further extended the completion long-stop date for its joint venture agreement with an institutional investor-led consortium led by Seira Capital Ltd. Read More
(Alliance News) - Mast Energy Developments PLC on Friday said its interim loss widened on higher costs, while revenue fell. Read More
Mast Energy Developments PLC - London-based company which operates reserve power generation plants in the UK - Extends the completion long-stop date for the first definitive and binding joint venture agreement due to "exceptional circumstances". The revised date is now expected around August 31. Mast Energy is a subsidiary of Kibo Energy PLC. Read More
(Alliance News) - Kibo Energy PLC on Wednesday said that its subsidiary, Mast Energy Developments PLC, has finalised a joint venture agreement with an institutional investor-led consortium led by Seira Capital Ltd. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says all funding activities, including the company's proposed AIM-listed vehicle Ultimate Sustainable Energy, were placed on hold due to delays as a result of "difficulties" at its extraordinary general meeting. Early last month, Kibo reported that five of a total of eight resolutions failed to reach the minimum threshold of 75% of the vote at an EGM. These include equity securities allotment, amendment of the Memorandum of Association and amendment of the Articles of Association. It said back then 35% of shareholders voted against these resolutions. Read More