Kibo Energy Shares Rise as Subsidiary Eyes Flexible-Power Sites
February 27 2019 - 6:08AM
Dow Jones News
By Adam Clark
Kibo Energy PLC (KIBO.LN) shares rose on Wednesday after the
company said its MAST Energy Developments Ltd. subsidiary has
signed a preliminary agreement for the potential acquisition of
five U.K. flexible-power sites.
Kibo said that under the deal, MAST would have the exclusive
right to acquire five "peaking" power sites with a total capacity
of 25.8 megawatts from a prospective developer. Such sites operate
at moments of peak electricity demand.
MAST has until April 8 to complete due diligence, Kibo said.
Shares at 1036 GMT were up 10% at 0.83 pence, having earlier
reached 0.85 pence.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 27, 2019 05:53 ET (10:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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