Issue of shares

RNS Number : 8876F

Jubilee Platinum PLC

30 May 2013

 



Jubilee Platinum plc

(Registration number 4459850)

JSE share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee") or ("the Company")

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Issue of shares for cash

Jubilee, the AIM and JSE Limited ("JSE") quoted Mine-to-Metals specialist, is pleased to announce a conditional placing of 8,034,954 new ordinary shares of 1 pence each in the Company at a price of 6.58 pence per share to raise GBP 0.529 million. The proceeds from the issue of the Placing Shares will be used, together with existing cash resources, primarily to fast track the Company's current projects, of which the immediate focus is to commence processing of the platinum containing Dilokong Chrome Mine tailings. 

The Company will also be issuing 803,495 new ordinary shares of 1 pence each in the Company at a price of 6.58 pence per share towards settling of creditors in connection with the placing and to preserve the Company's cash balance for the conclusion of the acquisition of Platinum Australia Limited.  The Company's cash resources will be further bolstered by the inflow of funds from the disposal of the non-core ferroalloy smelting operation.

The Company's total issued shares will be 355,143,024 after the issuance of both the abovementioned Shares.

The Placing Shares have been purchased by YA Global Master SPV Ltd., subject to the listing of the Placing Shares on the JSE and the admission of the Placing Shares to trading on AIM market of the London Stock Exchange.

All the above mentioned Shares will rank pari passu with the existing shares in issue of Jubilee.

Johannesburg

30 May 2013

Contacts

Jubilee Platinum plc

Colin Bird/Leon Coetzer

Tel [phone] / Tel [phone]

Andrew Sarosi

Tel [phone]

JSE Sponsor  

Sasfin Capital, a division of Sasfin Bank Limited

Angela Teeling-Smith/Sharon Owens

Tel [phone]

NOMAD        

finnCap Ltd

Matthew Robinson/Ben Thompson - corporate finance

Joanna Weaving - corporate broking

Tel [phone]

Shore Capital Stockbrokers Limited (Joint Broker)

Jerry Keen/Edward Mansfield

Tel: [phone]

Bishopsgate Communications Ltd

Nick Rome/Anna Michniewicz/Ivana Petkova

Tel [phone]

 

END

 

 

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