Business
PRO FORMA FINANCIAL EFFECTS
PRO FORMA FINANCIAL EFFECTS.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 1399G Jubilee Platinum PLC 03 June 2013 \n \n\nJubilee Platinum PLC\nRegistration number (4459850)\nJSE share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n \n3 June 2013\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 \nJubilee Platinum\n(\"Jubilee\" or the \"Company\")\n \nUNAUDITED PRO FORMA FINANCIAL EFFECTS OF THE DISPOSAL OF A NON-CORE ASSET BY JUBILEE \nWITHDRAWAL OF CAUTIONARY ANNOUNCEMENT\n \n \nIn compliance with the Listings Requirements of the JSE Limited (\"JSE\"), Jubilee, the JSE listed and AIM quoted Mine-to-Metals exploration and development company, is pleased to announce the unaudited pro forma financial effects (\"Effects\") of the Sale of Shares agreement (\"Agreement\")with Global Renewal Energy Limited (\"GRE\"), details of which were announced on 28 May 2013 and in terms of which GRE will acquire from Jubilee, the issued share capital of Jubilee Smelting and Refining (Pty) Ltd (\"JSR\"), a wholly owned subsidiary of Jubilee and the issued share capital of Power Alt (Pty) Ltd (\"PowerAlt\")(collectively \"Sale Shares\"), for an aggregate cash consideration of US$14 million (\"Transaction\"). The Transaction may be executed over two tranches, namely a disposal which includes the sale of 65% of the issued share capital of JSR and 40% of the issued share capital of PowerAlt (\"the Disposal\") and an option whereby Jubilee retains an exclusive put option for the remaining share capital held by the Company (\"the Option\"). The Effects in this announcement relate to the Disposal and does not incorporate the pro forma financial effects of the Option.\n \nKey Features of the Effects:\n \n· Net asset value per share up 5.63%;\n· Tangible net asset value per share up 27.75%\n· The illustrative values excludes the increase in intangible value due to;\no retaining the right to process platinum material in the 5 MW ARC furnace,\no the free option to build a second 5MW ARC furnace and,\no the right to participate in the expansion of the power plant.\n \nPro forma financial effects\n \nThe Effects are issued in compliance with ...