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Kibo Mining Plc (KIBO)

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Wednesday 08 October, 2014

Kibo Mining Plc

Kibo Mining raises ?855,725 in Share Placing

RNS Number : 7505T
Kibo Mining Plc
08 October 2014
 

Kibo Mining Plc (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

Share code on the JSE Limited:KBO Share code on the AIM:

KIBO ISIN:IE00B61XQX41

("Kibo" or "the Company")

 

  08 October 2014

 

Kibo Mining raises £855,725 in Share Placing

 

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce it has received commitments to a share placing of 57 048 352 new ordinary shares of Eur. 0.015 in the capital of the Company with clients of Kibo's UK Broker, Hume Capital Securities Plc and River Capital Partners LTD, at a placing price of 1.5p per share (the "Placing Shares"), to raise gross proceeds of £855,725 before expenses (the "Placing").  Kibo's directors and senior management are participating in the Placing for a cumulative amount of £55, 725 and will be participating on the same terms as other investors.

 

The Directors' shareholding in the Company before and after the Placing is shown on the table below:

 


Before Placing Interests

Placement Shares

Current Interests

Director

Shares held

Options held

Shares taken up in Placement

Shares held

% interest

Options held

Christian Schaffalitzky

1,797,089

100,000

62,753

1,859,842*

0,71

100,000

Louis Coetzee

5,876,998

100,000

888,998

6,765,996**

2,58

100,000

Noel O'Keeffe

1,693,151

100,000

598,296

2,291,447***

0,87

100,000

Andreas Lianos

4,876,695

100,000

1,411,938

6,288,633****

2,40

100,000

Tinus Maree

2,671,447

100,000

62,753

2,734,200*****

1,04

100,000

Wenzel Kerremans

113,488

100,000

62,753

176,241

0,07

100,000

Management

Louis Scheepers

1,082,386

nil

627,528

1,709,914

0,65


Total

18,111,254

600,000

3,715,019

21,826,273

8,33%

600,000

 

* 627,000 shares of total held in family trust Crosslane Limited

** 208,333 shares held in Boulder Mining Limited, 2,155,711 shares in Tsitato Trading Limited and          4, 4019, 942 held in Huntress Nominees Limited

*** 2,275,882 shares held in Davy Crest Nominees and 15,565 shares held by spouse Suzanne O'Keeffe

**** All shares held in Huntress Nominees Limited

***** All shares held in Huntress Nominees Limited

 

Application will be made for the Placing Shares to be admitted to tradingon AIM and the 

JSE AltX markets.Trading in the Placing Shares  is expected to commenceon AIM and the 

JSE on or around 14 October 2014("Admission"). On completion of Admission the Company 

will have 262 488 757 shares in issue. 

 

Louis Coetzee, CEO of the Company, commented today: "We are pleased with the results from the latest placing, given the extremely difficult funding environment in which exploration companies continue to find themselves in.The Director's participation in the placing once again demonstrates their firm and sustained confidence in the Company and its future.

 

Contacts

Louis Coetzee

+27 (0) 83 2606126

Kibo Mining plc

Chief Executive Officer

Andreas Lianos

+27 (0) 83 4408365

Kibo Mining plc & River Group

Executive Director, Corporate Adviser and Designated Adviser on JSE

Jon Belliss

+ 44 (0) 20 3216 2630

Hume Capital (Previously XCAP)

Broker

Oliver Morse

Trinity McIntyre

+61 8 94802500

RFC Ambrian Limited

Nominated Adviser on AIM

Daniel Thöle

Lydia Eades

+44 (0) 207 8611606

+44 (0) 207 8613126

 Bell Pottinger

Investor and Media Relations

 

 

Kibo Mining - Notes to editors

 

Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania. The Company was admitted to AIM in London on 27 April 2010 and the AltX in Johannesburg on 30 May 2011. The Company is developing the Rukwa mouth-of-mine thermal power station and controls one of Tanzania's largest mineral right portfolios, including the Haneti (nickel, PGE and gold), Morogoro (gold), Lake Victoria (gold), and Pinewood (coal & uranium) projects.

 

Its projects are located both in the established and gold prolific Lake Victoria Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where the Government has prioritised infrastructural development attracting significant recent investment in coal and uranium.

 

Kibo's objective is to build shareholder value sustainably. This will be achieved primarily through exploration of its own projects and leveraging the Company's experience in Tanzania to acquire exploration and development assets on competitive terms. The focus is on assets that can be moved swiftly up the value curve whilst benefitting from strategic relationships with industry leaders with special skills and competencies within their chosen fields.

 

Updates on the Company's activities are regularly posted on its website www.kibomining.com 

 

Johannesburg

08 October 2014

 

Corporate and Designated Adviser

River Group

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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