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JOHANNESBURG - Kibo Energy PLC, the Ireland-incorporated energy firm listed on the AIM and AltX, has notified stakeholders that its 2024 Audited Financial Statements will not be released by the expected date of June 30, 2025. The delay comes as the company is engaged in advanced discussions regarding potential project acquisitions under a Reverse Takeover Transaction (JO:NTUJ) (RTO).
The company, which previously announced on April 14, 2025, its intention to pursue an RTO, is expected to secure additional financing through its loan facility with Aria Capital Management Limited. This funding is anticipated to facilitate the audit process and enable the timely completion and publication of the 2024 accounts.
Kibo Energy has committed to keeping the market informed on the progress of its project acquisition initiatives and any updates to the estimated publication date of its 2024 accounts. The details of these developments contain inside information as defined by the Market Abuse Regulations (EU) no. 596/2014.
The announcement comes amid a critical period for the company, as it explores strategic growth opportunities. The delay in publishing the audited accounts could be linked to the complexities involved in finalizing the RTO, which typically involves comprehensive due diligence and financial assessment.
As Kibo Energy navigates through these strategic negotiations, investors are advised to monitor the company’s communications for further updates. The information regarding the delay is based on a press release statement issued by the company.
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