Kibo Energy Plc (dual listed KIBO:AIM, JSE:KBO) a renewable, reserve energy, LDES and biofuel corp., last week announced a repriced warrant offer that should unblock arious decision mechanisms (including spinoffs), which would be in the interest of the majority of investors. We note management (current + previous) is committing >£700k of its own capital via the CLN conversion. Exercising the repriced warrants on the JSE appears the logical approach. The S. African s/p arbitrage puts the repriced warrants in the money. Once a relatively small number of repriced warrants are exercised, the bridge loan reprofiling is triggered converting 28 April 2023 repayment of ~£1m to a 24-month term loan.
19 Apr 2023
Kibo Energy (KIBO) Flash Note Warrants Offering ACF Equity Research 19042023
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Kibo Energy (KIBO) Flash Note Warrants Offering ACF Equity Research 19042023
Kibo Energy Plc (KIBO:LON) | 0.0 0 0.0% | Mkt Cap: 1.64m
- Published:
19 Apr 2023 -
Author:
ACF Analyst Team -
Pages:
8
Kibo Energy Plc (dual listed KIBO:AIM, JSE:KBO) a renewable, reserve energy, LDES and biofuel corp., last week announced a repriced warrant offer that should unblock arious decision mechanisms (including spinoffs), which would be in the interest of the majority of investors. We note management (current + previous) is committing >£700k of its own capital via the CLN conversion. Exercising the repriced warrants on the JSE appears the logical approach. The S. African s/p arbitrage puts the repriced warrants in the money. Once a relatively small number of repriced warrants are exercised, the bridge loan reprofiling is triggered converting 28 April 2023 repayment of ~£1m to a 24-month term loan.