(Alliance News) – Kibo Energy PLC announced on Monday that London’s AIM had temporarily suspended trading in its shares on Monday for failing to publish the accounts and admission of placing shares before Sunday.
Kibo said it was working “diligently” to have the accounts ready for publication in late July or early August.
Separately, Kibo also said its subsidiary Mast Energy Developments PLC was in advanced discussions regarding the potential acquisition of an operational 10-megawatt flexible power generation site located in the southwest of England.
The potential acquisition will be subject to final due diligence, contracting, financing and various customary clearances and approvals associated with a transaction of this nature.
Mast Energy described the discussions as “positive” but cautioned that it could not “guarantee the terms or timing of the transaction.”
Separately, Mast Energy said it has completed an overhaul of the first generator set at its 9 megawatt flexible power station at Pyebridge, Derbyshire, with funding from RiverFort Global Opportunities PCC Ltd.
“We are very pleased that the refurbishment of the first Pyebridge generator set has been successfully completed, on plan, on schedule and on budget,” said Pieter Krugel, Managing Director of Mast energy.
“Furthermore, we are excited about the prospect of the potential acquisition and, while there are no guarantees on current terms or timing, we are working diligently to advance and complete the transaction as quickly as possible “.
Kibo Energy PLC holds a 55% stake in Mast Energy.
By Artwell Dlamini, Alliance News journalist
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