Kibo Mining Plc (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Sharecode on the JSE Limited: KBO Share code on the AIM:
KIBO ISIN:IE00B61XQX41
("Kibo" or "the Company")
31 July 2014
Results of Annual General Meeting and Completion of Placing announced on 14 July 2014
Shareholders are advised that the Annual General Meeting of Kibo Mining plc ("Kibo") held yesterday was attended in person and by proxy by shareholders holding approximately 21% of the shares in Kibo.
All the resolutions proposed were approved and they will be registered with the Companies Registration Office (Ireland).
The Company has also delivered the balance of shares to placees from its share placing announced on the 14th July 2014 (the "Placing") by the allotment of 7,285,714 shares of which 5,714,285 shares have been taken up by Kibo directors ("the Directors") on the same terms as other investors. The Directors' shareholding in the Company before and after the Placing is shown on the table below:
|
Before Placing Interests |
Placement Shares |
Current Interests |
Director |
Shares held |
Options held |
Shares taken up in Placement |
Shares held |
% interest |
Options held |
Christian Schaffalitzky |
1,715,910 |
100,000 |
81,179 |
*1,797,089 |
0,87 |
100,000 |
Louis Coetzee |
5,599,903 |
100,000 |
1,533,381 |
**7,133,284 |
3,47 |
100,000 |
Noel O'Keeffe |
714,865 |
100,000 |
978,286 |
***1,693 151 |
0,82 |
100,000 |
Andreas Lianos |
3,000,000 |
100,000 |
1,876,695 |
****4,876 695 |
2,37 |
100,000 |
Tinus Maree |
2,590,268 |
100,000 |
81,179 |
*****2,671 447 |
1,30 |
100,000 |
Wenzel Kerremans |
32,309 |
100,000 |
81,179 |
113,488 |
0,06 |
100,000 |
Management Louis Scheepers |
nil |
nil |
1,082,386 |
1,082,386 |
0,53 |
|
Total |
13,653,255 |
600,000 |
5,714,285 |
19,367,540 |
9,42% |
600,000 |
* 627,000 shares of total held in family trust Crosslane Limited
** 1,464,620 shares of total held in Boulder Mining Limited, 2,155,711 shares in Tsitato Trading Limited and 3,512,953 held in Huntress Nominees Limited
*** 699,300 shares of total held in Davy Crest Nominees and 15,565 shares held by spouse Suzanne O'Keeffe
**** All shares held in Huntress Nominees Limited
***** All shares held in Huntress Nominees Limited
Application will be made for these 7,285,714 shares to be admitted to trading on AIM and the JSE AltX markets and trading is expected to begin on or about 6th August 2014. Following Admission, the Company will have 205,440,405 shares in issue.
Contacts
Louis Coetzee |
+27 (0) 83 2606126 |
Kibo Mining plc |
Chief Executive Officer |
Andreas Lianos |
+27 (0) 83 4408365 |
Kibo Mining plc & River Group |
Corporate Adviser and Designated Adviser |
Jon Belliss |
+ 44 (0) 20 3216 2630 |
Hume Capital (Previously XCAP) |
Broker |
Oliver Morse Trinity McIntyre |
+61 8 94802500 |
RFC Ambrian Limited |
Nominated Adviser on AIM |
Daniel Thöle Lydia Eades |
+44 (0) 207 8611606 +44 (0) 207 8613126 |
Bell Pottinger |
Investor and Media Relations |
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 AltX 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 (gold), 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.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Johannesburg
31 July 2014
Corporate and Designated Adviser
River Group
