Kibo Energy to exit London’s AIM market after failed takeover deal

Kibo Energy PLC, the Ireland-incorporated energy firm with operations across Africa founded by the Irish geologist Noel Flannan O’Keeffe, will delist from London’s Alternative Investment Market (AIM) after failing to secure a reverse takeover transaction within the required timeline, marking a major turning point for the company.

Failed transaction triggers AIM exit

Kibo Energy said it was unable to meet the conditions needed to finalize binding terms for the proposed reverse takeover announced on July 1, 2026. As a result, the deal will not proceed, removing the pathway required to maintain its AIM listing.

Trading in Kibo’s shares has been suspended since April 14, 2025, under AIM Rule 15. With no qualifying transaction completed within the London Stock Exchange’s deadline, the company confirmed that its shares will be formally cancelled from trading on AIM at 7:00 a.m. on July 27, 2026, in line with AIM Rule 41.

Shareholders face illiquid position

Following the delisting, Kibo Energy’s shareholders will no longer be able to trade their shares on a public market. While investors will retain ownership in the company, there will be no active exchange for buying or selling the stock.

Kibo Energy stated it will continue to provide updates through announcements on its official website, maintaining communication with shareholders despite the absence of a public listing.

JSE listing under review

The company is currently engaging with the Johannesburg Stock Exchange (JSE) and its advisers regarding its secondary listing in South Africa. A further update is expected once discussions with the JSE progress.

New deal discussions underway

Kibo Energy’s board disclosed that it is in early-stage talks regarding an alternative transaction, which could include new funding arrangements and restructuring with creditors. The company indicated that completing such a deal may eventually support a return to public markets through an initial public offering.

However, Kibo cautioned that no binding agreements have been signed, and there is no certainty that any transaction, or future listing, will materialize.

Strategic uncertainty ahead

Founded in 2008 by Irish geologist Noel Flannan O’Keeffe as Kibo Mining, the company originally focused on mineral exploration in Sub-Saharan Africa, rebranded in 2018 as Kibo Energy with interests in the Sustineri Energy project in SA, and the Southport project and Mast Energy Developments in the UK. The Sustineri Energy project is a 2.7MW waste-to-energy power station located in Gauteng Industrial Park, jointly owned by Kibo Energy (65%) and Industrial Green Energy Solutions (35%).

The delisting underscores the challenges facing smaller listed energy firms seeking capital and strategic partners in volatile markets. Kibo’s next phase will depend heavily on its ability to secure a viable transaction and restore investor confidence.

For now, the company transitions into a more uncertain chapter, operating outside a major public exchange while exploring options to rebuild its market position.