TIDMKIBO
RNS Number : 0637S
Kibo Mining Plc
28 September 2017
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 GBP0.05, 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 EUR0.015 par
value will be issued today, with the allocation to each Subscriber
shown in Table 1 below.
TABLE 1
Name Conversion Shares Issued GBP Value
Price on conversion
of loan note
--------------------------- ----------- -------------- ----------
Private Investor GBP0.05 10,000,000 GBP500,000
--------------------------- ----------- -------------- ----------
Sanderson Capital Partners GBP0.05 15,800,000 GBP790,000
--------------------------- ----------- -------------- ----------
*Louis Coetzee GBP0.05 1,300,000 GBP65,000
--------------------------- ----------- -------------- ----------
*Andreas Lianos GBP0.05 1,300,000 GBP65,000
--------------------------- ----------- -------------- ----------
*Noel O'Keeffe GBP0.05 1,300,000 GBP65,000
--------------------------- ----------- -------------- ----------
*Louis Scheepers GBP0.05 1,300,000 GBP65,000
--------------------------- ----------- -------------- ----------
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 conversion Interests after
conversion of of loan note conversion of
loan note loan note
-------------------------- --------------------------- -------------------------------- ---------------------------
Name Shares Held % Interest Shares Held % Interest
Number of Shares
-------------------------- ------------- ------------ -------------------------------- ------------- ------------
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 Kibo Mining Chief Executive
2606126 Plc Officer
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
Andrew Thomson +61 8 9480 RFC Ambrian NOMAD on AIM
2500 Limited
Hugo de Salis +44 (0) 207 St Brides Investor and
/ Priit Piip 236 1177 Partners Media Relations
Ltd 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEASNPAFDXEEF
(END) Dow Jones Newswires
September 28, 2017 02:01 ET (06:01 GMT)
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From Apr 2024 to May 2024
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From May 2023 to May 2024