Africa-focused Kibo Energy on Tuesday signed a binding term sheet with Sanderson Capital Partners for the conversion of the latter’s 2.5% equity interest in Kibo’s 100%-owned Tanzanian subsidiary, Mbeya Development, to ordinary shares in Kibo. Kibo will issue just over 126.4-million new ordinary shares of par value €0.015 to Sanderson. Following the settlement, Sanderson’s shareholding interest in Kibo will increase from 8.24% to 23.38%.
