Distribution of Shareholding by Major Shareholder

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE: KBO), the mineral exploration and  development  company  focused  on coal, gold,  nickel,  and  uranium  projects  in  Tanzania, announces that its largest shareholder, Mzuri Capital Group Ltd (“MCG”) has advised that it has distributed its entire shareholding in the Company on an in specie basis to its 26 shareholders. As a result, MCG’s holding in the issued ordinary share capital of the Company has decreased from approximately 11.5% to 0%.

Entities  controlled  by  two  of  Kibo’s  directors,  Louis  Coetzee  and  Tinus  Maree,  have shareholdings  in  MCG  of  7.8%  and  9.2%  respectively,  and  as  result  of  the  distribution  their beneficial shareholdings in the Company have increased as follows:

 
The above shareholding percentages are based on Kibo’s current total issued ordinary share capital of 141,116,691 shares.

Kibo Mining – Notes to editors

Kibo  was  established  in  early  2008  to  explore  and  develop  mineral  deposits  in  Tanzania.  The company was admitted to AIM in London on 27 April 2010 and the JSE in Johannesburg on 30 May  2011.  The  Company  is  developing  the  Rukwa mouth-of-mine  thermal  power  station  and controls one of Tanzania’s largest mineral right portfolios, including the Haneti (nickel, PGE and gold), Morogoro, Lake Victoria (Gold), and Pinewood (Coal & Uranium) projects.

Its  projects  are  located  both  in  the  established  and  gold  prolific  Lake  Victoria  Goldfields,  the emerging  goldfields  of  eastern  Tanzania  and the  Mtwara  Corridor  in  southern  Tanzania  where the Government  has  prioritised  infrastructural  development  attracting  significant  recent investment in coal and uranium.

Kibo’s  objective  is  to  build  shareholder  value  sustainably.  This  will  be  achieved  primarily through exploration of its own projects and leveraging the Company’s experience in Tanzania to acquire exploration and development assets on competitive terms. The focus is on assets that can be moved swiftly up the value curve whilst benefitting from strategic relationships with industry leaders with special skills and competencies within their chosen fields.

Contacts:

 
Johannesburg
20 December 2013

Corporate and Designated Adviser
River Group
 
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