Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy PLC has announced a significant share restructuring with the issuance of over 8.5 billion new ordinary shares, including conversions for creditor settlements and director remuneration. The allotment will see former director Louis Coetzee’s shareholding rise to 21.2% and investor Peter Williams’ to 28.32% of the enlarged share capital. The company aims to reduce debt and attract external funding, with trading of the new shares on AIM to commence post-2023 account publication.
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