JOHANNESBURG - Kibo Energy PLC (AIM: KIBO; JSE: KBO), a company focusing on renewable energy development, has announced the dematerialization of its shares in compliance with new EU regulations. Starting from January 1, 2025, the company will no longer issue physical share certificates, moving to a fully electronic registration system.
The transition to dematerialized shares means that all share ownership will be recorded electronically, and physical certificates will cease to represent legal ownership. Kibo Energy has assured shareholders that the number of shares they own will remain unchanged through this transition. The process will be automatic, with the company’s registrar, Link Registrars Limited, managing the conversion.
This move is in response to EU regulations mandating electronic securities management to streamline processes and reduce the risks associated with physical certificates. Shareholders of Kibo Energy currently holding paper certificates do not need to take any action, as the changeover will be handled by the registrar.
The announcement was made public on Monday, and it is part of a broader trend in the securities market towards digitalization, aiming to enhance efficiency and security in the management and transfer of ownership.
The company has provided a notice on its website for shareholders seeking more information regarding the dematerialization process. This initiative by Kibo Energy reflects its commitment to adhering to regulatory standards and modernizing its operations in line with current financial practices.
The information reported is based on a press release statement from Kibo Energy.
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