Business
Jubilee sells non-platinum assets and Notice of GM
Jubilee sells non-platinum assets and Notice of GM.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 2682T Jubilee Platinum PLC 16 July 2015 \n\nAIM: JLP\nJSE: JBL\nRegistration number: 4459850\nISIN GB0031852162 \n16 July 2015 \nJubilee Platinum PLC\n(\"Jubilee\" or the \"Company\")\nJubilee sells non-platinum assets \nNotice of General Meeting\n \nHighlights \n· Jubilee executes binding cash sale agreement, in aggregate of ZAR110.5 million (approximately GBP5.8 million), for its Middelburg operational assets (\"Disposal\"), subject to shareholder approval\n \n· Jubilee retains right to 5MW platinum furnace at the Middelburg operations with secured power as well as all intellectual property relating to the development of the Platinum in Waste processing strategy valued at ZAR 100 million (approximately GBP 5.2 million)\n \n· Proceeds from the Disposal capable of fully funding the capital required for the construction and commissioning of the Dilokong Chrome Mine platinum surface processing project\n \n· Funding required for the construction and commissioning of both platinum surface processing projects has been offered by a number of large financial institutions\n \nJubilee, the Mines-to-Metals company, is pleased to announce that it has executed a sale and purchase agreement (\"SPA\"), in terms of which Main Street 1347 Proprietary Limited, a special purpose vehicle (\"SPV\" or \"the Purchaser\") established for the purposes of the Disposal, will, subject to shareholder approval, acquire 100% of the issued shares of Jubilee Smelting and Refining Proprietary Limited (\"JSR\"), a subsidiary of Jubilee owning the Middelburg Smelter Complex, for ZAR72.0 million (approximately GBP3.8 million) and ...