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Posted by
Claire Cuddihy ,
Writing Assistant
World Coal,
Kibo Mining Plc (Kibo), the Africa-based, multi-badet energy company reportedly received pledges from a fund Investment based in Ireland to raise £ 500,000 through a 9,523,810 common shares placement of Kibo with a par value of € 0.015 each at an investment price of 5.25p per share.
The investment funds are intended for general working capital, but more specifically to accelerate the advanced feasibility studies of Mabesekwa's independent coal project in Botswana (MICPP or Mabesekwa) and the power plant project. Independent Benga (BIPP) in Mozambique following faster than expected progress on both projects over the past two months.
According to Kibo, the new ordinary shares will be admitted to trading on AIM and JSE AltX's markets. The trading of the new common shares is expected to commence at AIM and at the JSE on August 3, 2018. Following the admission, the Company will have 634,316,783 shares outstanding and this figure may be used by the shareholders as the denominator for the calculations. to perform. determine if they are required to notify their interest or change their interest in the company under the FCA's Disclosure and Transparency Guidelines.
Kibo CEO Louis Coetzee said, "We are very pleased to see that the interest of institutional investors for Kibo has been steadily increasing since Kibo announced its energy strategy and after recent acquisitions of MCIPP and BIPP.The latest investment at the significant 25% premium sends a very strong message on what investors believe the value proposition is that Kibo has to offer. "
Read more article online at: https://www.worldcoal.com/coal/30072018/kibo-parts- details-of-equity-placement /
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