Issue of shares

RNS Number : 2621Y

Jubilee Platinum PLC

20 December 2010

 



20 December 2010

AIM: JLP

JSE: JBL

Registration number: 4459850

ISIN: GB0031852162

Jubilee Platinum Plc

("Jubilee" or "the Company")

Issue of shares

This announcement is made in terms of AIM requirements and is a voluntary announcement made on the JSE Limited

Application has been made for 1 222 004 ordinary shares of 1p each ("new shares") in the Company to be admitted to trading on the AIM market of the London Stock Exchange plc and the JSE Limited. Admission to trading is expected to occur at 08h00 a.m. GMT 22 December 2010 on AIM and at 09h00 a.m. SAST 24 December 2010 on JSE Limited.

The new shares will rank pari passu in all respects with the existing ordinary shares of the Company.

The Company is issuing, in lieu of cash, 1 222 004 new shares at 31p (ZAR3.35), being the agreed number of equivalent shares for cash at the closing price on AIM on 15 December 2010, in settlement of liabilities to a contractor.

Following admission to trading of the new shares, the total of Jubilee ordinary shares in issue will be 256 536 092.

The new shares are in lieu of cash, as per an agreement between the Company and CVMR, as final settlement for the successful completion of a feasibility study on the Carbonyl Refining process.   This feasibility study strongly supports the inclusion of the Carbonyl Refining process in the further refining of the platinum containing iron alloy produced by the ConRoast process. The refining process will move Jubilee into the production of final metals as part of the execution of its strategy of establishing a total capability company from exploration through to final metals.

Jubilee is committed to the establishment of its first fully commercialised ConRoast process at its Middleburg facility during 2011.  The Carbonyl Refining process will significantly enhance this investment.

For further information please contact:

South Africa	United Kingdom
Leon Coetzer Chief Executive Officer Jubilee Platinum plc Tel +27  (0) 11 465 1913	Andrew Sarosi   Director                                                   Jubilee Platinum plc Tel [phone]
Leonard Eiser Sasfin Capital Tel [phone]	Michael Kinirons                                             Bishopsgate Communications Ltd                                  Tel [phone]
	Matthew Robinson/Ed Frisby finnCap Tel [phone]

 

END

 

 

LISVBLBLBLFZFBV