Last checked at 20 Dec 2013 07:00
Kibo Mining Plc
("Kibo" or "the Company")
20 December 2013
DISTRIBUTION OF SHAREHOLDING BY MAJOR SHAREHOLDER
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; JSE: KBO), the mineral exploration and development company focused on coal, gold, nickel, and uranium projects in Tanzania, announces that its largest shareholder, Mzuri Capital Group Ltd ("MCG") has advised that it has distributed its entire shareholding in the Company on an in specie basis to its 26 shareholders. As a result, MCG's holding in the issued ordinary share capital of the Company has decreased from approximately 11.5% to 0%.
Entities controlled by two of Kibo's directors, Louis Coetzee and Tinus Maree, have shareholdings in MCG of 7.8% and 9.2% respectively, and as result of the distribution their beneficial shareholdings in the Company have increased as follows:
Director Name | Shares Distributed from MCG | KIBO Shares Now Held | % of the Company's Issued Share Capital |
Louis Coetzee | 1,256,287 | 4,343,616 | 3.1% |
Tinus Maree | 1,486,199 | 2,590,268 | 1.8% |
The above shareholding percentages are based on Kibo's current total issued ordinary share capital of 141,116,691 shares.
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 JSE 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, 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
Contacts
Louis Coetzee | +27 (0)83 2606126 | Kibo Mining plc | Chief Executive Officer
|
Andreas Lianos
| +27 (0)83 4408365 | River Group | Corporate Adviser and Designated Adviser on JSE |
Jon Belliss | +44 (0) 20 3216 2630 | XCAP | Broker |
Stuart Laing | +61 8 94802500 | RFC Ambrian Limited | Nominated Adviser on AIM |
Daniel Thöle | +44 0207 8611606 | Bell Pottinger | Investor and Media Relations |
Johannesburg
20 December 2013
Corporate and Designated Adviser
River Group