1st May 2018 13:32
LONDON (Alliance News) - Kibo Mining PLC on Tuesday said it has issued 8.4 million new shares to the provider of a loan facility in December 2016.
Kibo has issued the shares at 5.00 pence per share to Sanderson Capital Partners Ltd as a partial settlement on the balance of funds drawn down under the facility agreed. Shares were down 3.7% on Tuesday at 4.62 pence each.
The shares, Kibo said, were issued in respect of a repayment amount of USD568,712.
The company also said Tuesday its Non-Executive Director Mashale Phumaphi, who was only appointed at the start of April, has left to concentrate on his role as chief executive of Shumba Energy Ltd.
Shumba, Kibo said, nominated him in the first place and it will make another in due course.
Related Shares:
Kibo Energy