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Conversion of Loan Notes

Dated: 28 September 2017

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.

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Conversion of Loan Notes

AIM Share Price
(Ticker: KIBO)
3.28p Change -0.13p
at close on 25 Sep 2018

JSE Share Price
(Ticker: KBO)
65.00c Change +0.00c
at close on 21 Sep 2018

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