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Update on Proceeds of Placing
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: IE00B97C0C31
("Kibo" or "the Company")
Dated: 25 March 2015
Update on Proceeds of Placing
Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral
exploration and development company, provides the following update to the announcement it made on 17
March 2015 regarding the delayed receipt of the proceeds of its recent placing due to the fact that Hume
Capital Securities plc ("Hume Capital") had appointed administrators.
Kibo believes that, of the outstanding placing proceeds, £526,000 (representing the consideration for
10,520,000 Kibo shares which were to be issued to third party investors) which had been paid into Hume
Capital's client money account, will be released to Kibo, as soon as practically possible under the
procedures established by the FCA for such circumstances.
However Kibo understands that the balance of the placing consideration of approximately £204,000
(representing the consideration for 4,080,000 Kibo shares which were to be issued to Hume Capital's
discretionary clients) is unlikely to be released to the Company. The shares which were issued by Kibo in
relation to this portion of the placing will likely be declared forfeit and cancelled by the Company, as
provided for by the Company's Articles of Association.
Further information will be provided to investors as it becomes available to the Company.
Louis Coetzee, CEO of the Company, commented today: "The latest developments in relation to the
Company's February placing with Hume, does not affect the Company's on-going business activities.
Sufficient pre-cautionary measures are in place and have subsequently been introduced, to ensure that the
Company can carry on with its business as usual, without any undue disruption. Shareholders can expect
further updates on the various activities the Company has been reporting on over the past months, shortly."
Contacts
Louis Coetzee
+27 (0) 83 2606126
Kibo Mining plc
Chief Executive Officer
Andreas Lianos
+27 (0) 83 4408365
River Group
Corporate Adviser and Designated Adviser on JSE
Elliot Hance
+44 (0) 207 382 8300
Beaufort Securities Limited
Broker
Oliver Morse
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser on AIM
Daniel Thšle
Lucinda Alderson
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations
Johannesburg
25 March 2015
Corporate and Designated Adviser
River Group
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