All subscribers to the convertible loan notes issued on September 27 by Tanzania-focused mineral exploration and development company Kibo Mining have elected to convert the notes to Kibo shares. The notes were converted at a Kibo share price of £0.05, which was calculated in accordance with the note term sheet, the company said in a September statement. Kibo CEO Louis Coetzee says the company is “delighted that all subscribers exercised their right to convert the notes to ordinary shares in Kibo”.
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