Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development Company has today issued 1,666,667 Ordinary Shares (the \u201cShares\u201d) of \u20ac0.015 each in the capital of the Company at a price of 6p to Sanderson Capital Partners \u00a0Limited \u00a0(\u201cSanderson\u201d). \u00a0The \u00a0Shares \u00a0were \u00a0issued \u00a0upon receipt \u00a0of \u00a0\u00a3500,000 \u00a0from\u00a0Sanderson, representing the full drawdown amount of the loan facility provided by Sanderson to the Company, the details of which were announced on the Company\u2019s RNS of the 4th\u00a0November 2015.<\/p>\n
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Application will be made for the Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Shares is expected to commence on AIM and the JSE on or around 17 November 2015 (\u201cAdmission\u201d). On completion of Admission the Company will have 330,928,714 shares in issue.<\/p>\n
Louis Coetzee, CEO of the Company, commented today:<\/em> \u201cWhilst confirming that the <\/em>\u00a3<\/em>526,000<\/em> placing<\/em> proceeds<\/em> due<\/em> to<\/em> the<\/em> Company,<\/em> which<\/em> have<\/em> been<\/em> retained <\/em>in<\/em> the<\/em> Hume<\/em> client<\/em> money<\/em> account<\/em> since<\/em> March<\/em> 2015,<\/em> will<\/em> be<\/em> released <\/em>to<\/em> Kibo<\/em> in<\/em> due<\/em> course,<\/em> the<\/em> administrators<\/em> of<\/em> Hume<\/em> Capital<\/em> have<\/em> not<\/em> been<\/em> able<\/em> to<\/em> provide<\/em> Kibo<\/em> with<\/em> a definitive timeline for the distribution. Accordingly Kibo has elected to draw down the loan facility from Sanderson in order to prevent the delay in the receipt of these funds from holding up work on the Mbeya Coal to Power Project (\u201cMCPP\u201d) and Kibo\u2019s other projects.\u201d<\/em><\/p>\n [ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https:\/\/kibo.energy\/wp-content\/uploads\/Final_RNS-Share-Issue-Sanderson_V3.0_1211153.pdf” btn_target=”_blank”]Share<\/strong> Issue<\/strong>[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":" 12 November 2015 Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development Company has today issued 1,666,667 Ordinary Shares (the \u201cShares\u201d) of \u20ac0.015 each in the capital of the Company at a price of 6p to Sanderson Capital Partners \u00a0Limited \u00a0(\u201cSanderson\u201d). \u00a0The \u00a0Shares \u00a0were \u00a0issued \u00a0upon<\/p>\n","protected":false},"author":31,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[47],"tags":[],"class_list":["post-5453","post","type-post","status-publish","format-standard","hentry","category-news"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/comments?post=5453"}],"version-history":[{"count":2,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5453\/revisions"}],"predecessor-version":[{"id":5458,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5453\/revisions\/5458"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=5453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=5453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=5453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Download Full Report<\/strong><\/h5>\n