Johannesburg - Jubilee Platinum [JSE:JBL] is to raise up to
£1.725m by way of a conditional placing of up to 20‚175‚439 new ordinary shares
of 1 pence each at a price of 8.55 pence.
The placing shares have been placed jointly by Shore Capital
Stockbrokers and finnCap‚ as agents to the company‚ subject to the conditions
of a placing agreement which include admission of the shares to trading on AIM
market of the London Stock Exchange which is expected to occur on 19 October.
The proceeds of the placing will be used‚ together with
existing cash resources‚ to support growth within the company´s strategic
business areas‚ through which Jubilee is implementing its mine-to-metals
strategy‚ it said.
In addition to the placing‚ Jubilee is issuing 3‚863‚276 new
ordinary shares for £384 900 (R5.255bn) as the first tranche of consideration
for the acquisition of an additional 19% interest in Power Alt (Pty) Ltd.
Additionally‚ Jubilee is issuing 434‚690 new ordinary shares
to a party for £38 975 (R518 890) and 625‚000 new ordinary shares to a second
party for £57 895 (R766 710) in part consideration of the settlement agreement
with the shareholders of Jubilee Smelting and Refining (JSR) to acquire 100% of
Following these issues and the placing‚ the total issued
share capital of the company will be 313‚220‚211. The company holds no ordinary
shares in treasury. Therefore‚ following the placing‚ the total number of
voting rights in the company will be 313‚330‚211.
Leon Coetzer‚ CEO of Jubilee Platinum said: "The Board
of Jubilee is pleased with the continued support of our shareholders while the
addition of new investors following the Placing further strengthens our
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