Business
Preference Share Subscription
Preference Share Subscription.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n RNS Number : 6640W Jubilee Platinum PLC 31 July 2009 \n \nJubilee Platinum PLC \n31 July 2009\n\n \nAIM: JLP\nJSE: JBL\nRegistration number 4459850\nISIN GB0031852169\n\n \n \n JUBILEE PLATINUM PLC \n \n ('Jubilee' or 'the company') \n\nPreference share subscription and sale agreement with K-Plats (Proprietary) Limited ('K-Plats') and Maude Mining and Exploration (Proprietary) Limited ('Maude Mining')\n\n \n1. Details of the transaction\n\nOn 27 April 2009 Jubilee entered into a preference share subscription and sale agreement with K-Plats, which holds a 26% interest in Maude Mining, and Maude Mining, a 65% owned subsidiary of Jubilee, in terms of which K-Plats shareholders will subscribe for A preference shares in K-Plats. Jubilee will purchase from the K-Plats shareholders all their A preference shares for a consideration of R5 million, which will be settled by means of the issue to K-Plats shareholders of 3 896 205 Jubilee ordinary shares ('the subscription shares'), issued at R1.2833 (0.0997 UK pounds), being the volume weighted average trading price of Jubilee shares for the 30 days prior to the date of the last signatory of the agreement, being 27 April 2009 ('the transaction'). Having regard to the terms of the A preference shares Jubilee will acquire a further 26% economic interest ...