Kibo Energy PLC (LSE:KIBO, JSE:KBO), the mini micro-cap focused on renewables, has unveiled a simplified restructuring plan that involves raising £340,000 at 0.01p a share and the appointment of major shareholder Clive Roberts to the board.
It supersedes a previous blueprint which involved raising £500,000 and bringing natural resources veteran James Parsons as a non-exec alongside Roberts and City spinner Stefania Barbaglio, who would have become Kibo's new chair.
Instead, it is appointing Cobus van der Merwe, the current CFO, as an executive director.