KIBO MINING PLC - Kibo Mining raises 855,725 in Share Placing

Release Date: 08/10/2014 10:15
Code(s): KBO
Wrap Text
Kibo Mining raises 855,725 in Share Placing

Kibo Mining Plc 
(Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 
Share code on the JSE Limited: KBO 
Share code on the AIM:
("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
Schaffalitsky        1,797,089    100,000              62,753                         1,859,842*       0,71       100,000
Coetzee              5,876,998    100,000             888,998                         6,765,996**      2,58       100,000
O'Keeffe             1,693,151    100,000             598,296                         2,291,447***     0,87       100,000
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
Kerremans              113,488    100,000              62,753                           176,241        0,07       100,000
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 trading on AIM and the JSE AltX markets. 
Trading in the  Placing Shares  is expected to commence on 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. 

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)

Oliver Morse
Trinity McIntyre
+61 8 94802500
RFC Ambrian Limited
Nominated Adviser on AIM

Daniel Thšle
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 

08 October 2014

Corporate and Designated Adviser
River Group

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