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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kibo Energy Plc | LSE:KIBO | London | Ordinary Share | IE00B97C0C31 | ORD EUR0.0001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0375 | 0.035 | 0.04 | 0.0375 | 0.036 | 0.0375 | 2,254,416 | 08:00:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 1.04M | -9.78M | -0.0026 | -0.15 | 1.51M |
TIDMKIBO
RNS Number : 0617X
Kibo Mining Plc
26 August 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")
26 August 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 18 June 2015, regarding the delayed receipt of final proceeds from its February placing, due to the fact that the Company's previous brokers Hume Capital Securities plc ("Hume Capital") had appointed administrators.
The Company is pleased to announce that following a Court order at a hearing on the 10(th) August 2015 approving the Client Money Distribution Procedure, the Joint Special Administrators issued a notice (the "Notice") to clients (including Kibo) dated 20(th) August 2015 on the procedures pertaining to the distribution of the Client Money Pool.
Pursuant to the terms of this Notice, the Joint Special Administrators client monies will be distributed by earliest on the 2(nd) October 2015 (the "Date of Proving"), but no later than within two months from the 2(nd) October 2015.
As previously announced, Kibo understands that substantially all of the GBP526,000 (representing the consideration for 10,520,000 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.
Further updates will be provided to investors as it becomes available to the Company.
Louis Coetzee, CEO of Kibo Mining, said: "We are pleased that all uncertainty related to the February Hume placing has now been removed. Kibo will receive substantially all of the GBP526,000 still owed to the Company and this will have a significantly positive impact on the Company's cash position."
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining Chief Executive Officer plc ------------------ --------------------- -------------------- ----------------------------- Corporate Adviser and Andreas Lianos +27 (0) 83 4408365 River Group Designated Adviser on JSE ------------------ --------------------- -------------------- ----------------------------- Beaufort Securities Jon Belliss +44 (0) 207 382 Limited Broker 8300 ------------------ --------------------- -------------------- ----------------------------- Oliver Morse +61 8 9480 2500 RFC Ambrian Nominated Adviser on Limited AIM ------------------ --------------------- -------------------- ----------------------------- Daniel Thöle +44 (0) 203 772 Bell Pottinger Investor and Media Relations 2500 ------------------ --------------------- -------------------- -----------------------------
Johannesburg
26 August 2015
Corporate and Designated Adviser River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 26, 2015 03:00 ET (07:00 GMT)
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