The institutional asset management platform of ARIA Commodities’ group has announced a reverse takeover (RTO) transaction with Kibo Energy, the dual-listed energy development company.
The $135 million acquisition, transacted in concert with
ARIA’s group institutional asset management business, will be satisfied through
the issuance of approximately 966 million new Kibo shares at a deemed price of £0.104
($0.14) per share, following a proposed 1,600-to-1 share consolidation.
The transaction marks a significant reverse takeover (RTO)
under AIM Rule 14 and represents Kibo’s strategic pivot toward large-scale,
global industrial decarbonisation.
Carbon Resilience controls a portfolio of eight
strategically located renewable energy sites across Queensland, spanning more
than 900,000 hectares and offering a potential generation capacity exceeding 14
GW.
The projects combine onshore wind, solar PV and battery
energy storage systems (BESS) to deliver firm, dispatchable clean-power
solutions supporting:
- National grid supply,
- Industrial electrification,
- Data-centre power resilience,
- Critical minerals processing,
- Green steel and low-carbon fuels production.
Matt Brittain, CIO at ARIA Commodities, commented: “We’ve
instituted a process which paves the way for realising significant value in
what constitutes one of APAC’s largest green electron opportunities. Supported
by a world class global and local development team, the transaction will afford
the opportunity for institutions, industry participants and commercial end
users, to participate in an almost peerless Power-2-X proposition.”
The proposed RTO is expected to re-admit Kibo to trading on AIM
following shareholder approval and regulatory sign-off.
Once completed, the enlarged group will partner with global blue chip partners to deliver a decarbonisation platform which includes sustainable aviation fuel, green steel and marine fuels. -OGN/TradeArabia News Service