Business
Issue of shares
Issue of shares.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 8876F Jubilee Platinum PLC 30 May 2013 \n \n\nJubilee Platinum plc \n(Registration number 4459850)\nJSE share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n(\"Jubilee\") or (\"the Company\")\n \nNot for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.\n \nIssue of shares for cash\n \nJubilee, the AIM and JSE Limited (\"JSE\") quoted Mine-to-Metals specialist, is pleased to announce a conditional placing of 8,034,954 new ordinary shares of 1 pence each in the Company at a price of 6.58 pence per share to raise GBP 0.529 million. The proceeds from the issue of the Placing Shares will be used, together with existing cash resources, primarily to fast track the Company's current projects, of which the immediate focus is to commence processing of the platinum containing Dilokong Chrome Mine tailings. \n \nThe Company will also be issuing 803,495 new ordinary shares of 1 pence each in the Company at a price of 6.58 pence per share towards settling of creditors in connection with the placing and to preserve the Company's cash balance for the conclusion of the acquisition of Platinum Australia Limited. The Company's cash resources will be further bolstered by the inflow of funds from the disposal of the non-core ferroalloy smelting operation.\n \nThe Company's total issued shares will be 355,143,024 after the issuance of both the abovementioned Shares.\n \nThe Placing Shares have been purchased by YA Global Master SPV Ltd., subject to the listing of the Placing Shares on the JSE and the admission of the Placing Shares to trading on AIM market of the London Stock Exchange.\n \nAll the above mentioned Shares will rank pari passu with the existing shares in issue of Jubilee.\n \n \nJohannesburg\n30 May 2013\n \nContacts \n \nJubilee Platinum plc\nColin Bird/Leon Coetzer \nTel +44 (0) 20 7584 2155 / Tel +27 (0)11 465 1913 \nAndrew Sarosi \nTel +44 (0) 1752 221937 \n \nJSE Sponsor \nSasfin Capital, a division of Sasfin Bank Limited\nAngela Teeling-Smith/Sharon Owens\nTel +27 (0) 11 809 7500\n \nNOMAD \nfinnCap Ltd\nMatthew Robinson...