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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 | 0.0375 | 0.0375 | 125,294 | 08:00:03 |
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 : 4252I
Kibo Mining Plc
25 March 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")
Dated: 25 March 2015
Update on Proceeds of Placing
Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, provides the following update to the announcement it made on 17 March 2015 regarding the delayed receipt of the proceeds of its recent placing due to the fact that Hume Capital Securities plc ("Hume Capital") had appointed administrators.
Kibo believes that, of the outstanding placing proceeds, GBP526,000 (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, as soon as practically possible under the procedures established by the FCA for such circumstances.
However Kibo understands that the balance of the placing consideration of approximately GBP204,000 (representing the consideration for 4,080,000 Kibo shares which were to be issued to Hume Capital's discretionary clients) is unlikely to be released to the Company. The shares which were issued by Kibo in relation to this portion of the placing will likely be declared forfeit and cancelled by the Company, as provided for by the Company's Articles of Association.
Further information will be provided to investors as it becomes available to the Company.
Louis Coetzee, CEO of the Company, commented today: "The latest developments in relation to the Company's February placing with Hume, does not affect the Company's on-going business activities. Sufficient pre-cautionary measures are in place and have subsequently been introduced, to ensure that the Company can carry on with its business as usual, without any undue disruption. Shareholders can expect further updates on the various activities the Company has been reporting on over the past months, shortly."
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 ------------------ ------------ ---------------- ------------------- Elliot Hance +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
25 March 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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