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Kibo Energy PLC said on Wednesday it will resume trading on London Stock Exchange’s AIM market after appointing Beaumont Cornish Ltd as its nominated adviser.
Kibo is a Galway, Ireland-based company with energy projects in Africa and the UK. Its shares were suspended from the AIM on December 12 after failing to find a nomad, a financial services firm that advises an AIM-listed company.
RFC Ambrian Ltd ceased to act as nomad on December 9.
Its replacement, Beaumont Cornish, is an independently owned adviser that is a member of the London Stock Exchange and Aquis Stock Exchange. It is a sponsor approved by the UK Financial Conduct Authority.
Also on Wednesday, Kibo named Ajay Saldanha as a non-executive director, starting immediately. Kibo said Saldanha is a banking and investment professional, with more than 20 years of experience in the power, energy and utilities sector.
Kibo shares were quoted at 0.13 pence each in London on Wednesday morning, down 1.9%. In Johannesburg, the stock was unchanged at R 0.04.
By Artwell Dlamini, Alliance News reporter
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