Jubilee Platinum PLC (JLP) - Issue of Equity
RNS Number : 6489O
Jubilee Platinum PLC
15 October 2012
15 October 2012
Registration number: 4459850
JUBILEE PLATINUM PLC
("Jubilee" or the "Company")
Issue of Equity
Jubilee, the AIM and JSE quoted mine-to-metal specialist, is pleased to
announce a conditional placing of up to 20,175,439new ordinary shares of 1
pence each in the Company (the "Placing Shares") at a price of 8.55 pence to
raise up to GBP 1.725 million (the "Placing").
The Placing Shares have been placed jointly by Shore Capital Stockbrokers
Limited and finnCap Limited 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 ("AIM") which is expected
to occur on 19 October 2012.
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.
The Placing Shares will rank pari passu with the existing shares in issue of
In addition to the Placing, the Company, further to the announcement dated 27
September 2012, is issuing 3,863,276 new ordinary shares for £384,900
(ZAR5,255,600) 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 (ZAR518,890) and
625,000 new ordinary shares to a second party for £57,895 (ZAR766,710) in part
consideration of the settlement agreement with the shareholders of Jubilee
Smelting and Refining (Pty) Ltd ("JSR") to acquire 100% of JSR.
Following the above share 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, Chief Executive Officer 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
PRO FORMA FINANCIAL EFFECTS
At the general meeting of the Company held on 11 June 2012, the requisite
majority of Jubilee shareholders approved an ordinary resolution authorising
the directors to issue shares for cash in accordance with the Listings
Requirements of the JSE ("general authority"). The Placing is being undertaken
in accordance with the general authority.
The unaudited pro forma financial effects of the issue of new ordinary shares
in terms of general authority, based on the published reviewed financial
results of Jubilee for the twelve months to 30 June 2012, are set out below.
The financial effects have been prepared in accordance with the terms of the
Listings Requirements of the JSE Limited, are for illustrative purposes only
and due to their nature, may not truly reflect Jubilee's financial position or
results of operations. The directors of Jubilee are responsible for the
preparation of the unaudited pro forma financial effects.
Effects per Jubilee share Before ^1 Afterplacing^2 Percentage change
(Loss)/ earnings per share 2.61 2.36 9.46%
Headline (loss)/ earnings per 2.61 2.36 9.46%
Net asset value per share 25.20 24.11 -4.32%
Tangible net asset value per 5.07 5.30 4.49%
Weighted average shares in 279,146.63 279,201.91 0.02%
Shares in issue ('000) 288,121.81 308,297.25 7.00%
1. The figures in the Before column are extracted from the published
reviewed results of Jubilee for the twelve month to 30 June 2012. The shares
in issue include 31,585,714 shares issued in terms of the general authority
prior to 30 June 2012.
2. The figures in the After placing column assume that:
The PlacingShares issued in terms of the general authority were in issue from
30 June 2012 for loss per share and headline loss per share purposes and the
cash received on 30 June 2012 for net asset value per share and tangible net
asset value per share purposes.
Jubilee Platinum plc
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Tel +44 (0) 1752 221937
Matthew Robinson/Ben Thompson- corporate finance
Joanna Weaving - corporate broking
Tel +44 (0) 20 7600 1658
Shore Capital Stockbrokers Limited (Joint Broker)
Jerry Keen/Edward Mansfield
Tel: +44 (0) 20 7 408 4090
Leonard Eiser/Sharon Owens
Tel +27 (0) 11 809 7500
Bishopsgate Communications Ltd
Nick Rome/Anna Michniewicz/Ivana Petkova
Tel +44 (0) 20 7562 3350
This information is provided by RNS
The company news service from the London Stock Exchange
IOEFZLFFLBFBFBQ -0- Oct/15/2012 06:00 GMT
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