Jubilee Metals Group - Equity Placing to Support Targeted Growth
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
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" or the "Company")
Equity Placing to Support Targeted Growth
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
Commenting on the Placing,
"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
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
For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter (@Jubilee Metals) or contact:
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Nominated Adviser -
Tel: +44 (0) 20 3368 3555
Tel +44 (0) 20 7186 9900
Joint Broker - WHIreland
Tel: +44 (0) 207 220 1666/+44 (0) 113 394 6618
Tel: +44 (0) 161 819 8875
JSE Sponsor -
Tel +27 (0) 11 809 7500
PR & IR Adviser -
Tel +44 (0) 20 7236 1177
This information is provided by RNS, the news service of the
Quick facts: Jubilee Metals Group
Market Cap: £127.81 m
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