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Kibo Energy postpones deadline for SEPCOIII strategic development agreement

Published by , Assistant Editor
World Coal,

Kibo Energy PLC (Kibo) the multi-asset, Africa focused energy company, announces that further to the announcement dated 3 December 2018, the Board of Kibo has elected to extend the deadline for the final confirmation of the strategic development agreement (SDA) with SEPCOIII (announced 3 July 2018), for a further four months to 30 March 2019. It has been agreed that this is a period of non-exclusivity during which Kibo can enter into discussions with alternative interested parties. The company's relationship with SEPCOIII remains a strong and positive working relationship as is reflected in their continued close co-operation to finalise the SDA referred to above and on the development of the Mbeya Coal to Power Project, where the parties have amongst others signed a joint development agreement and EPC contract. The company looks forward to updating the market further in this regard in due course.

The company also advises that the Kibo Energy research note that was recently prepared and published by First Equity will also be available on the company's website as of 12 pm GMT today.

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