Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Kibo raises £0.15m to continue delayed audit, appoints interim CEO
(Sharecast News) - Renewable energy developer Kibo Energy announced the receipt of £0.15m on Friday, in first trance placing proceeds, to enable the continuation of the audit for the 2023 accounts. The AIM-traded firm said that as a result, 1,785,714,286 placing shares had been issued and allotted to Peter Williams.
It also said it had partially completed its proposed board changes.
Jacobus 'Cobus' Johannes van der Merwe had been appointed as an executive director and interim chief executive officer, effective immediately.
That followed the retirement of Louis Coetzee from his roles as director and CEO.
Additionally, Clive Roberts would join the board pending regulatory approval.
Kibo said van der Merwe, 43, is a qualified Chartered Accountant in South Africa, with over 15 years of experience in senior financial, managerial, and executive roles within the investment management and energy sectors.
He boasted significant expertise in the energy and resources industries, capital raising, and managing investment portfolios for high net-worth individuals.
Prior to his current role, he served as Kibo's chief financial officer and a member of the executive committee for two years.
He holds a BCom degree in accounting and a BCompt honours degree in accounting science, and is a member of the South African Institute of Chartered Accountants (SAICA).
His current directorships included Logicliq, Nextgen Fuels, Icon Park, Sustineri Energy, and NG National Broadband Solutions, with no former directorships in the last five years.
Van der Merwe holds no interest in Kibo's securities.
Kibo Energy said it would apply for the admission of the placing shares to trading on AIM, expected to become effective following the resumption of trading after the publication of the 2023 accounts.
Following the issue, its total share capital would consist of 6,146,662,050 ordinary shares.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.