Kibo Mining Plc Hume Placing Update (4866Q)
18 June 2015 - 5:00PM
UK Regulatory
TIDMKIBO
RNS Number : 4866Q
Kibo Mining Plc
18 June 2015
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")
18 June 2015
Update on Proceeds of Hume Placing
Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX:
KBO), the Tanzania focused mineral exploration and development
company, is pleased to provide the following update to the
announcement it made on 25 March 2015, regarding the delayed
receipt of the proceeds of its February placing, due to the fact
that the Company's previous brokers Hume Capital Securities plc
("Hume Capital") had appointed administrators.
Kibo has been in regular contact with the joint special
administrators of Hume Capital who have now confirmed that they are
in the final stages of the administration process and anticipate
disbursing client monies under administration in one lump sum
payment by early September 2015. Kibo understands that
substantially all of the GBP526, 000.00 (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, less a small
proportion representing costs of the administration.
Forfeiture procedure in respect of the approximately GBP204,000
(representing the consideration for 4,080,000 Kibo shares which
were to be issued to Hume Capital's discretionary clients) for
cancellation by the Company, as previously notified to the market,
is also in an advanced stage and will be completed soon.
Further information will be provided to investors as it becomes
available to the Company.
Louis Coetzee, CEO of Kibo Mining, said: "The latest
developments with regard to the February placing with Hume,
together with the precautionary measures taken to date, will ensure
that the Company's ongoing business activities have not, and will
not be affected adversely in any way. The Company has been
conducting its business as usual, without any undue disruption.
Shareholders can expect regular further updates on the Company's
activities in the coming weeks."
Contacts
+27 (0) 83 Kibo Mining Chief Executive
Louis Coetzee 2606126 plc Officer
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Andreas Lianos +27 (0) 83 River Group Corporate Adviser
4408365 and Designated
Adviser on JSE
------------------ ------------ ---------------- -------------------
Jon Belliss +44 (0) 207 Beaufort Broker
382 8300 Securities
Limited
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Oliver Morse +61 8 9480 RFC Ambrian Nominated Adviser
2500 Limited on AIM
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Daniel Thöle +44 (0) 203 Bell Pottinger Investor and Media
Lucinda Alderson 772 2500 Relations
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Johannesburg
18 June 2015
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
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