24th Jul 2026 17:07
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says it will be delisted from the London Stock Exchange's AIM on Monday next week after failing to complete a reverse takeover deal in line with listing rules. Kibo, a cash shell, has been suspended from AIM since April 2025. It is also suspended from trading on the Johannesburg Stock Exchange. Says it is engaging with the JSE.
Kibo says it is in "early stage" discussions over an alternative transaction. "Cancellation of admission will allow the company to progress those discussions, together with the associated funding and creditor arrangements," it says. Says it will seek an initial public offering should the transaction be concluded.
In 2024, Kibo decided to sell its operating assets as held by Kibo Mining (Cyprus) Ltd, the holding company for its African projects. That same year, it disposed of its 20% interest in Mast Energy Developments PLC.
By Artwell Dlamini, Alliance News senior reporter South Africa
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