Wrap Text
Issue of shares for cash
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”)
Issue of shares for Cash
Kibo Mining plc (“Kibo” or the “Company”) announces that pursuant to the previously
announced standby equity distribution agreement (“SEDA”) dated 14 August 2012 between
the Company and YA Global Master SPV Ltd (“YA Global”) the Company has issued
4,427,931 ordinary shares of €0.01 each in the capital of the Company (the “Shares”) at an
issue price of 1.28446p to YA Global. These Shares have been issued as payment of £56,875
representing a proportion of the implementation fee due under the SEDA to YA Global and
will rank pari passu with the Company’s existing issued Ordinary Shares.
Application will be made for the Shares to be admitted to trading on both the AIM and JSE
AltX markets with trading in the new Shares expected to commence on AIM on or about
23 October 2012.
Following the issue of the Shares the Company’s total issued share capital will be
1,126,521,842 Ordinary Shares of €0.01 each. In accordance with the Financial Services
Authority Disclosure and Transparency Rules, the Company has 1,126,521,842 Ordinary
Shares of €0.01 each in issue, each share carrying the right to one vote. The Company does
not hold any Ordinary Shares in Treasury.
The above figure of 1,126,521,842 Ordinary Shares may be used by Shareholders in the
Company as the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the share capital of the
Company under the Financial Service Authority's Disclosure and Transparency Rules.
Louis Coetzee +27 (0)83 2606126 Kibo Mining plc Chief Executive Officer
Andreas +27 (0)83 4408365 River Group Corporate Adviser and
Lianos
Designated Adviser on JSE
Nick Bealer +44 (0)207 7109612 Cornhill Capital Joint Broker
Ltd
Matthew +44 (0) 207 9768800 Northland Capital Joint Broker
Johnson Partners Limited
Stuart Laing +61 8 94802500 RFC Corporate Nominated Adviser on AIM
Finance Limited
Matt Beale +44 (0)7966 389196 Fortbridge Public Relations
Updates on the Company’s activities are regularly posted on its website
www.kibomining.com
General Background & Strategy
Kibo is a public company registered in Ireland (company number 451931). Its registered
office is Kibo Mining plc, Suite 3, One Earlsfort Centre, Lower Hatch Street, Dublin 2,
Ireland. Kibo was established in early 2008 to explore and develop mineral deposits in
Tanzania, East Africa and was admitted to AIM on 27 April 2010 and AltX in South Africa
on 30 May 2011. The Company suspended itself from AIM during the period 11 May to 14
August 2012 to facilitate two corporate acquisitions that significantly increased its mineral
assets in Tanzania. It was re-admitted to AIM on 15 August 2012 and shareholder approval
for the acquisitions was obtained the 6th September 2012 at an EGM.
The Board of Kibo is composed of professionals whose experience include mineral
exploration, mine development, mining finance, tax, law, mergers and acquisitions, and
financial control of public companies. It is supported by a competent and motivated
Tanzanian staff that operates from Kibo's operations office in Dar es Salaam.
The mineral assets of the Company now comprise five projects in Tanzania - Haneti (nickel,
PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal
& Uranium) which give Kibo access to 38,000 km2 of early stage exploration licences in
Tanzania's premier gold mining region, the Lake Victoria Goldfield, within the emerging
gold exploration regions in eastern Tanzania and uranium & coal regions in south-western
Tanzania.
The acquisitions of Mzuri Energy and Mayborn have added the advanced Rukwa thermal
coal project and the Pinewood uranium exploration project to Kibo’s portfolio of mineral
projects in Tanzania.
The Rukwa and Pinewood projects will provide Kibo shareholders with exposure to an
attractive portfolio of strategic energy assets in Tanzania. Importantly, they are situated
within and close to the Mtwara Corridor, an area where the Tanzanian Government has
committed to significant infrastructure development and which has seen recent multi-million
dollar investment in coal and coal-fired power stations and uranium exploration.
The Rukwa project is substantially more advanced than Kibo’s existing exploration projects,
with a significant Mineral Resource of thermal coal already defined. This provides nearer
term development and commercialisation potential, complementing the earlier stage existing
projects held by Kibo. This is further supported by the memorandum of understanding that
has already been entered into with a major Asian conglomerate for the development of a coal
mine and mine-mouth coal-fired power plant based on the Rukwa project.
In addition, the Pinewood project encompasses a significant ground holding of prospective
Karoo sequence sedimentary rocks. These sediments are attracting considerable interest from
international companies exploring for uranium and coal mineralisation following some
notable discoveries in recent years.
Kibo's objective is to build shareholder value in a sustainable manner. This objective will be
pursued primarily through active exploration of its own projects and by using the Company's
experience in Tanzania to acquire attractive exploration and development assets on
competitive terms that can be moved swiftly up the value curve by using the company’s own
skills base whilst also seeking to benefit from strategic collaborative relationships with
industry leaders who have special skills and competencies within their chosen fields of focus.
Kibo will undertake continual risk assessment of its projects and take whatever actions it
believes are necessary to ensure that these risks are mitigated.
18 October 2012
Johannesburg
Corporate and Designated Adviser
River Group.
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