Business
Placing of New Shares
Placing of New Shares.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n Jubilee Platinum PLC\n07 November 2007\n\n\n\n Not for release, publication or distribution in or into the United States,\n Australia, Canada or Japan.\n\n\n\n Jubilee Platinum plc\n ('Jubilee' or 'the Company')\n\n\n\n\nIncorporated in the United Kingdom\nRegistration number 4459850\n\n\nAIM: JLP\nJSE: JBL\nISIN: GB0031852162\n\n\n\n7 November 2007\n\n\n\n PROPOSED GENERAL ISSUE OF SHARES FOR CASH\n\n\nIntroduction\n\nIn accordance with Jubilee's existing authority under its memorandum and\narticles of association and general authority to issue shares for cash in\naccordance with paragraph 5.52 of the Listings Requirements of the JSE Limited\n('JSE'), Jubilee announces today that it proposes to place 13,000,000 new\nordinary shares (the 'Placing Shares') equating to approximately 14.77 per\ncent. of the Company's current issued share capital, to raise approximately\n£11,000,000 (net of expenses).\n\nJubilee proposes to place 13,000,000 ordinary shares at an issue price per\nPlacing Share of R12.50 on the JSE and 89 pence on the AIM Market of the London\nStock Exchange ('AIM'). This represents a 4.1% discount to the 30 day volume\nweighted average price of 92.70 pence per ordinary share on AIM as at 6 November\n2007 being the last practicable date prior to this announcement.\n\nThe Company proposes to place the shares with institutional shareholders, who\nqualify as 'public' shareholders within the meaning of paragraphs 4.25 and 4.26\nof the Listings Requirements of the JSE.\n\nApplication will be made to the London Stock Exchange and the JSE Limited for\nthe Placing Shares to be admitted to trading on AIM and the Johannesburg Stock\nExchange ('Admission'). The Placing Shares will rank pari passu in all respects\nwith the existing ordinary shares. The Placing is conditional on Admission. It\nis expected that dealings in the Placing Shares on AIM and the JSE will commence\non 12 November 2007.\n\n\n\nApplication of proceeds\n\nThe net proceeds will primarily be used to fund the bankable feasibility study\nat Jubilee's core Tjate project.\n\n\nFinancial effects\n\nThe table below reflects the unaudited pro forma financial effects of the above\nmentioned proposed general issue of shares for cash. The pro forma financial\neffects have been prepared for illustrative purposes only and in terms of the\nListings Requirements of the ...