Issue of Kibo Shares to Geological Service Provider from Treasury Account
9th December 2016
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company has today issued 218,221 Ordinary Shares (the “Fee Shares”) in the capital of the Company to G&T Exploration Services Ltd (“G&T”) from a Company held forfeited share treasury account (“Treasury Account”).
The Fee Shares were issued in settlement of invoices from G&T for geological services to the Company during the period March to September 2016 and comprise a total amount of GBP 13,638.80. The Fee Shares were issued to G&T at a price of 6.25 pence per share.
The Fee Shares were issued to G&T from the 1,377,523 forfeited shares (“Forfeited Shares”) remaining in a Company Treasury Account arising from the placing of the Company’s former broker, Hume Capital, in administration in March 2015. The Forfeited Shares have already been admitted to trading on AIM so no further application for the Fee Shares to be admitted to AIM is now required. An application for the Fee Shares to be admitted to trading on the JSE AltX markets is required (“JSE Admission”), and pending approval for JSE Admission, trading on the JSE will commence on or around 14th December 2016. On completion of JSE Admission the Company’s shares in issue will remain at 355,603,745 with a reduction in the number of Forfeited Shares in the Company’s Treasury Account to 1,159,302.
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