Kibo Mining Plc Proceeds of Placing (6216H)
March 17 2015 - 3:01AM
UK Regulatory
TIDMKIBO
RNS Number : 6216H
Kibo Mining Plc
17 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: 17 March 2015
Proceeds of Placing
Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX:
KBO), the Tanzania focused mineral exploration and development
company, notes the announcement made by its UK broker, Hume Capital
Securities plc ("Hume Capital"), on 11 March 2015, of its intention
to appoint an administrator under the Investment Bank Special
Administration Regulations 2011 ("SAR"). The SAR regime will
dictate the timing and manner in which client assets will be dealt
with, although one of the objectives of the SAR is the return of
client assets as soon as reasonably practicable. According to this
announcement, Hume Capital or its administrators are not able to
release client money it holds without first obtaining the consent
of the Financial Conduct Authority.
Kibo announced a share placing of GBP950,000 through Hume
Capital on 2 March 2015 ("Placing"). To date, the Company has
received GBP219,500 of the gross proceeds of the Placing. Hume
Capital has confirmed that the balance of GBP730,500 payable to
Kibo remains in Hume Capital's client money account. Hume Capital
has been unable to provide a timeline for the expected release of
the outstanding placing proceeds to Kibo.
The Company's current cash balance is however sufficient to fund
its ongoing activities for the short to medium term. The Directors
will provide a further update once more information as to the
timing for the release of the Placing proceeds from Hume Capital
has been made available.
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) 20 Hume Capital Broker
Abigail Wayne 3693 1470 Securities
Plc
------------------ ------------ ---------------- -------------------
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
17 March 2015
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLIFLRVSIDLIE
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kibo Energy (LSE:KIBO)
Historical Stock Chart
From Apr 2023 to Apr 2024