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Conversion of Loan Notes
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: 28 September 2017
Conversion of Loan Notes
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development company, is pleased to announce that all subscribers
(“Subscribers”) to the convertible loan notes (the “Notes”) that it issued on the 27
September 2017 (refer RNS of 27 September 2017) have elected to convert the Notes to
Kibo shares under the terms of the Notes (“the Conversion Shares”). The Notes were
converted at a Kibo share price of £0.05, which was calculated in accordance with the
Note Term Sheet.
Kibo’s CEO Louis Coetzee said: “We are delighted that all subscribers exercised their
right to convert the Notes to ordinary shares in Kibo. This is a clear display of
reiterated support towards the Company and the direction it is heading. I believe that
the parties involved see Kibo as a long-term investment that will add value, not only
to their own investment portfolios, but also to all the shareholders.”
A total of 31,000,000 new Ordinary Kibo Shares of €0.015 par value will be issued today,
with the allocation to each Subscriber shown in Table 1 below.
TABLE 1
Name Conversion Price Shares Issued on £ Value
conversion of loan note
Private Investor £0.05 10,000,000 £500,000
Sanderson Capital Partners £0.05 15,800,000 £790,000
*Louis Coetzee £0.05 1,300,000 £65,000
*Andreas Lianos £0.05 1,300,000 £65,000
*Noel O’Keeffe £0.05 1,300,000 £65,000
*Louis Scheepers £0.05 1,300,000 £65,000
Totals 31,000,000 1,550,000
*Member of EXCO
The details of all Directors’ and senior managements’ shareholding in the Company before
and after the Conversion are shown on Table 2 below.
TABLE 2
Interests before Shares issued on Interests after
conversion of conversion of loan conversion of
loan note note loan note
Shares % Shares %
Held Interest Number of Shares Held Interest
Christian Schaffalitzky 2,119,842 0.58% N/A 2,119,842 0.54%
*Louis Coetzee 6,765,996 1.86% 1,300,000 8,065,996 2.04%
*Andreas Lianos 6,288,633 1.73% 1,300,000 7,588,633 1.92%
*Noel O’Keeffe 2,291,447 0.63% 1,300,000 3,591,447 0.91%
Tinus Maree 2,934,200 0.81% N/A 2,934,200 0.74%
Wenzel Kerremans 376,241 0.10% N/A 376,241 0.10%
*Louis Scheepers 1,709,914 0.47% 1,300,000 3,009,914 0.76%
Totals 22,486,273 6.18% 5,200,000 27,686,273 7.00%
*Kibo Directors and Management who are Members of Kibo EXCO converting loan note to shares
The shareholding of Sanderson Capital Partners will increase to 26,797,664 Ordinary Kibo
Shares, for an interest of 6.78%.
Application will be made for the admission to trading on AIM and the JSE for the Conversion
Shares and is expected to occur on or about 4 October 2017.
Following the issues of the 31,000,000 Conversion Shares detailed above, the Company
will have 395,254,364 shares in issue.
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
Jon Belliss
+44 (0) 207 382 8300
Beaufort Securities Limited
Broker
Andrew Thomson
+61 8 9480 2500
RFC Ambrian Limited
NOMAD on AIM
Hugo de Salis / Priit Piip
+44 (0) 207 236 1177
St Brides Partners Ltd
Investor and Media Relations Adviser
Notes to editors:
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. Kibo Mining
is focused on exploration and development of mineral projects in Tanzania, and controls a
large mineral rights portfolio in Tanzania.
Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101compliant
defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the
Mbeya Coal to Power Project ("MCPP"), previously called the Rukwa Coal to Power Project
("RCPP"), with an established management team that includes ABSA/Barclays as Financial Advisor.
Kibo has completed a Coal Mining Definitive Feasibility Study and a Power Pre- Feasibility
Study for the Mbeya project and has recently announced the completion of an Integrated Bankable
Feasibility Study report for the project. On 25 August 2016, Kibo signed an Agreement with
China based EPC contractor SEPCO III granting it the right to become the sole bidder for the
EPC contract to build the power plant component of the MCPP in exchange for SEPCO III refunding
50% of the development costs incurred by Kibo to date on the project. Kibo has already received
the first tranche of this funding in the amount of US$1.8 million on the 5th September 2016 and
signed an EPC contract with SEPCO III on the 19th December 2016.
Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity
for nickel, PGMs, gold and strategic metals including lithium.
Kibo Mining's projects are located in central Tanzania and in the Mtwara Corridor in southern
Tanzania where the Government has prioritized infrastructural development attracting
significant recent investment in coal and uranium. Kibo Mining has a positive working
relationship with the Tanzanian Government at local, regional and national levels and works
hard to maintain positive relationships with all communities where company interests are held.
Kibo Mining recognises the potential to enhance the quality of life and opportunity for
Tanzanian citizens through careful development of its projects.
Updates on the Kibo Mining's activities are regularly posted on its website www.kibomining.com.
This announcement contains inside information as stipulated under the Market Abuse Regulations
(EU) no. 596/2014 ("MAR").
Johannesburg
28 September 2017
Corporate and Designated Adviser
River Group
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