Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Conditionally raises £350,000 via a placing of 4.17 billion new shares at 0.0084 pence each. The entire placing has been raised through the investor Peter Sion Williams. The placing shares will be settled in two tranches, with 1.78 billion shares settling immediately. Says 2.38 billion shares will settle after shareholder at a general meeting to be held as soon as possible after settlement of tranche one.

Kibo also says all creditor conversions are settled in full. Such conversions will be at an issue price of 0.0084 pence. Williams will be entitled to appoint one new director to the board following settlement of tranche one and further nominate one new director to the board following tranche two. Says both appointments will be subject to regulatory approval.

Current stock price in Johannesburg: 0.01 rand cent

12-month change: down 50%

Current stock price in London: 0.012 pence, up 17%

12-month change: down 81%

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