Brief: Kibo Energy Says Proventure Has Not Made First £1m Payment To Project SPV

Kibo Energy

08/01/2024 07:16

Jan 8 (Reuters) - Kibo Energy PLC  KIBO.L :
    * PROVENTURE HAS STILL NOT MADE FIRST £1M PAYMENT TO PROJECT
SPECIAL PURPOSE VEHICLE
    * MED UNDERSTANDS DELAYED PAYMENT DUE TO LACK OF
COORDINATION AND
ADMINISTRATIVE DIFFICULTIES ON SIDE OF PROVENTURE OVER FESTIVE
PERIOD
    * MED IN DISCUSSIONS WITH RESPECT TO AN ALTERNATIVE SOURCE
OF
SHORT-TERM FUNDING
    * DISCUSSIONS TO ENSURE  ANY FURTHER DELAYS REGARDING JVA
WILL NOT
UNDULY IMPACT MED'S OPERATIONS

Source text for Eikon:  ID:nRSH8689Ya 
Further company coverage:  KIBO.L 

 ((Reuters.Briefs@thomsonreuters.com;))