Kinetiko Energy Ltd (ASX:KKO) has appointed Simon Whybrow as company secretary, effective immediately, following the resignation of Stephen Hewitt-Dunton from the role.
Hewitt-Dunton had been with the company since 2010 and was part of its progress from the IPO.
The board has thanked him for his contribution and has wished him well with his new endeavours.
Relevant experience
Whybrow is a certified practising accountant and chartered secretary with more than 25 years’ corporate and commercial experience within both ASX-listed and unlisted companies.
He was chief financial officer, chief operating officer and company secretary for ASX-listed security company Threat Protect Australia Ltd (ASX:TPS) from 2016 to 2020.
Prior to that, he was involved in several listed and unlisted, public and private, mining companies including chief financial officer and company secretary for RMA Energy Limited from 2007 to 2010.
Placement to advance Amersfoot Project
This month Kinetiko received firm commitments from sophisticated and professional investors to raise about A$2.8 million at 10 cents per share.
In addition to the placement, Kinetiko has launched a share purchase plan (SPP) to offer existing shareholders the right to subscribe for shares worth up to a further A$2 million at the same price as the placement.
Funds from the placement will be used to advance Kinetiko’s Amersfoort Project in South Africa, including funding exploration and gas drilling.
Specifically, funds will be applied towards aeromagnetic surveys, exploration core drilling, interval test drilling, pilot production costs and general working capital purposes.
KKO executive chairman Adam Sierakowski said at the time: “This is the first capital raising undertaken by Kinetiko outside our existing shareholders for over four years and we are pleased to welcome a number of new institutional and sophisticated funds to the company’s register."