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Kibo - acquisition of Carbon Resilience
Kibo Energy announced that it has entered into a conditional sale and purchase agreement with FA SPC Real Asset Income Ltd., part of the institutional asset management platform of the ARIA Commodities' group, to acquire Carbon Resilience (Pte) Ltd., a privately held utility-scale industrial decarbonisation and renewable energy company .
Convertible Loan Note
The Company has issued a Convertible Loan Note to an institutional investor to provide funding to the Company of up to GBP150 000 for general working capital purposes and to cover the initial RTO costs.
Financial Reporting Update
As previously announced, trading in the Company's ordinary shares on AIM remains suspended pending the completion of a potential RTO, publication of the admission document and re-admission of the Company's shares to trading on AIM.
Next Steps and Timetable
Following the completion of the due diligence process, a General Meeting will be convened to seek shareholder approval in due course. The Company will also be required to undertake a fundraising in connection with the Transaction.
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