Kibo Mining Plc Hume Placing Update (4866Q)

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 
------------------  ------------  ----------------  ------------------- 
 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 
------------------  ------------  ----------------  ------------------- 
 Oliver Morse        +61 8 9480    RFC Ambrian       Nominated Adviser 
                      2500          Limited           on AIM 
------------------  ------------  ----------------  ------------------- 
 Daniel Thöle   +44 (0) 203    Bell Pottinger   Investor and Media 
  Lucinda Alderson    772 2500                        Relations 
------------------  ------------  ----------------  ------------------- 
 

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

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