| Thu 2 Jun 2011, 14:30 | | KBO - Kibo Mining Plc - Issue of Equity |
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KBO
KBO
KBO - Kibo Mining Plc - Issue of Equity
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 Equity
Kibo Mining plc ("Kibo" or the "Company") (AIM, KIBO: JSE, KBO) the mineral
exploration and development company focused on gold and nickel projects in
Tanzania today successfully raised a total of R12,002,200 (approximately
GBP1,000,000) by way of a placing of a total of 36,370,303 new Ordinary
Shares of Euro0.01 each in the capital of the Company (the "Placing") to
South African sophisticated clients of River Group, the Company`s Designated
Advisers in South Africa
Commenting today, Noel O`Keeffe, CEO of Kibo said:
"This Placing is the final requirement of our Agreement with Mzuri Gold
Limited dated 30 December 2010 and provides a strong indication of South
African investor confidence in the Company following its dual listing on
AltX on the JSE earlier this week. These funds will be used to fund on-going
exploration on our Tanzanian projects during the months ahead and I am
confident of a successful outcome from our field programmes this year"
The Placing is conditional on the 36,370,303 new Ordinary Shares of Euro0.01
each in the capital of the Company (the "Placing Shares") being admitted to
trading on AIM and the JSE.
Mzuri Gold Limited ("Mzuri") has, under the terms of the Mzuri Underwriting,
agreed to subscribe for 6,060,606 Placing Shares at ZAR 0.33 cents per
Placing Share. Following the subscription, Mzuri will hold 79,393,940
Ordinary Shares, which is approximately 21.02% of the issued share capital
of the Company as enlarged by the Placing.
An application will be made to the London Stock Exchange and JSE for the
Placing Shares, which will rank pari passu with the Company`s existing
issued Ordinary Shares, to be admitted to trading and dealings are expected
to commence at 8:00 a.m. (BST) on Wednesday 8 June 2011.
Following the issue of the Placing Shares the Company`s total issued share
capital will be 377,629,511 Ordinary Shares of Euro0.01 each. In accordance
with the Financial Services Authority Disclosure and Transparency Rules, the
Company has 377,629,511Ordinary Shares of Euro0.01 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 377,629,511 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.
Enquiries:
Noel O`Keeffe +353 91 384562 Kibo Mining plc Chief Executive
Officer
John Simpson 020 7776 6550 Daniel Stewart & Nominated
Company Plc Adviser
Andrew Lianos +27 83 44 083 65 River Group Designated
Adviser - JSE
Fiona Kinghorn 020 7448 9820 Alexander David Joint Broker
Securities Limited
Anthony Kluk 020 7628 1128 Loeb Aron & Company Joint Broker
Limited
Updates on the Company`s activities are regularly posted on its website
www.kibomining.com
Pretoria
02 June 2011
Corporate and Designated Advisor
River Group
Date: 02/06/2011 14:30:01 Produced by the JSE SENS Department.
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