Kibo Energy PLC Raises £150,000 in Tranche 1 Placing, Appoints New Interim CEO

  • Kibo Energy PLC secures £150,000 from Tranche 1 placing for 1,785,714,286 shares issuance.
  • Board changes include Mr. Cobus van der Merwe as interim CEO, replacing Mr. Louis Coetzee.
  • Cobus van der Merwe, a chartered accountant, brings 15 years of senior financial experience.

Ulrich Bester appointed as director at Sable Exploration

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

Placing Proceeds£150,000
Shares Allotted1,785,714,286
RecipientMr. 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

Director & CEOMr. Louis CoetzeeMr. Cobus van der Merwe
Executive DirectorN/AMr. 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

Total Issued Share Capital6,146,662,050 Ordinary Shares
Share DenominationEUR0.0001 each


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.