Business
Issue of Loan Note
Issue of Loan Note.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n27 January 2006\n\n JUBILEE PLATINUM PLC\n ('Jubilee' or 'the Company')\n\n\n £1.5 million raised by way of a 4 year unsecured loan note\n convertible at 70p\n\n\nJubilee is pleased to announce that it has come to an agreement with City\nNatural Resources High Yield Trust Plc for the provision of a £1.5 million\ncapital raising. The cash raised will be used to fund working capital\nrequirements for its exploration and development programmes in South Africa and\nMadagascar.\n\n\nThe principal terms of the loan note are:\n\n\n• The loan note is unsecured and has a maturity date of 26 January 2010\n\n\n\n• The loan note is convertible at the option of the holder at any time\nprior to the maturity date, after 12 months from the issue date, at a price of\n£0.70 (conversion price), by the Company issuing 2,142,857 Ordinary 1p shares\n\n\n\n• After the initial 12-month period, if the 20-day average closing price\nof the Company's shares at any time attains £0.85 or more, the Company may call\nthe convertible loan note for conversion at the conversion price\n\n\n\n• The number of ordinary 1p shares to be issued upon conversion of the\nnote are subject to proportional adjustment to reflect stock dividends, share\nsplits, reverse share splits and other anti-dilutive events\n\n\n\n• Upon a change of control involving the acquisition of voting control\nor direction over 50% or more of the ordinary shares of the Company, City\nNatural Resource High Yield Trust Plc has the right to require the Company to\nrepurchase their loan note, in whole or in part, at a price equal to 101% of the\nprincipal amount, plus accrued and unpaid interest thereon\n\n\n\nFor further information please contact:\n\nColin Bird Justine Howarth / Annabel Leather\nJubilee Platinum plc Parkgreen Communications Ltd\nTel: 07768 397 627 Tel +44 20 7493 3713\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2313,"tagName":"div"}]