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Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Warns its shares will be suspended from the AIM on Monday if it does not find a nominated adviser, a financial services firm that shepherds a company onto the AIM. RFC Ambrian Ltd will cease to act as nominated adviser for Kibo from the close of business on Friday. Says it is in ‘very advanced discussion’ with a new nominated adviser, with their appointment subject to completion of due diligence.
If, following such suspension, the company fails to appoint a replacement nominated adviser within one month of the date that its shares are suspended from trading on AIM, the admission of the its shares to trading on AIM will be cancelled on January 12. There can be no guarantee that the appointment of a new nominated adviser, it warns.
London current stock price: 0.14 pence, down 15% on Friday
12-month change: down 27%
Current stock price in Johannesburg: R 0.03, down 25%
12-month change: down 57%
By Artwell Dlamini, Alliance News reporter
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