Jubilee Metals Group PLC Equity Placing to Support Targeted Growth (4645T)
14 Novembre 2019 - 2:15PM
UK Regulatory
TIDMJLP
RNS Number : 4645T
Jubilee Metals Group PLC
14 November 2019
Jubilee Metals Group Plc
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
14 November 2019
This announcement contains inside information for the purposes
of article 7 of the market abuse regulation EU 596/2014 ("MAR"). In
addition, market soundings (as defined in MAR) were taken in
respect of the matters contained in this announcement, with the
result that certain persons became aware of such inside information
as permitted by MAR. That inside information is set out in this
announcement and has been disclosed as soon as possible in
accordance with paragraph 7 of article 17 of MAR. Upon the
publication of this announcement, the inside information is now
considered to be in the public domain and such persons shall
therefore cease to be in possession of inside information in
relation to the Company and its securities.
Jubilee Metals Group plc
("Jubilee" or the "Company")
Equity Placing to Support Targeted Growth
Jubilee Metals Group Plc ("Jubilee" or "the Company"), the AIM
and Altx traded metals processing company, is pleased to announce
that the Company has raised GBP6.49 million (ZAR 124.45 million)
(before expenses) through a placing of 162,208,900 new ordinary
shares in the Company ("Placing Shares") at a price of 4 pence per
share (the "Placing"). The Placing Shares represent approximately
8.0% of the enlarged issued share capital.
The proceeds of the Placing will be used towards the completion
of the chrome and PGM transaction at the Company's Inyoni
Operations as announced on 24 October and 5 November 2019 and to
implement the Company's targeted expansion plans which includes the
Kabwe zinc, lead and vanadium refinery project in Zambia, and the
roll-out of the Company's successful fine chrome solution at its
DCM Fine Chrome Operations to all of its operations, including
Inyoni and Windsor.
Commenting on the Placing, Leon Coetzer, CEO says: "This placing
which was significantly oversubscribed was carefully considered by
Jubilee to support the acquisition of its chrome and PGM rights at
Inyoni while maintaining its capital roll out plan.
"As we announced in our final results earlier today, our
earnings continue to show significant growth and the addition of
the chrome and PGM rights at our Inyoni Operation not only expands
our operational footprint but holds the potential to significantly
further enhance our earnings.
"Our earnings growth for the first three months of the current
financial year is showing significant progress, driven, in part, by
the implementation of our Windsor PGM project in late August which
is already outperforming our set targets, exceeding 5 000 PGM
ounces produced for the month of September alone. We expect to
continue on this growth trajectory with the further addition of our
chrome and PGM rights at Inyoni and the roll-out of our fine chrome
solution which precedes our Zambian based Kabwe project.
"We are thankful for the support we have received from our new
and existing shareholders."
Application will be made for the Placing Shares to be admitted
to trading on AIM ("Admission") and it is expected that Admission
will become effective on or around 21 November 2019. The Placing
Shares will rank pari passu with the existing ordinary shares of 1
pence each ("Ordinary Shares").
Following the issue of the Placing Shares, the Company will have
2,017,509,573 Ordinary Shares in issue, each share carrying the
right to one vote. The Company does not hold any Ordinary Shares in
treasury. The above figure of 2,017,509,573 Ordinary Shares may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
For further information visit www.jubileemetalsgroup.com, follow
Jubilee on Twitter (@Jubilee Metals) or contact:
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/Vassil Kirtchev
Tel: +44 (0) 20 3368 3555
Broker - Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7186 9900
Joint Broker - WHIreland
Harry Ansell/ Dan Bristowe
Tel: +44 (0) 207 220 1666/+44 (0) 113 394 6618
Katy Mitchell/Lydia Zychowska
Tel: +44 (0) 161 819 8875
JSE Sponsor - Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/ Beth Melluish
Tel +44 (0) 20 7236 1177
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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