Business
Reduction of Share Premium Account & Notice of GM
Jubilee Metals Group PLC is proposing a reduction of its share premium account to increase distributable reserves for future dividends, share buybacks, and other corporate purposes, subject to shareholder and court approval, with an expected effective date around April 29, 2026. The company is also seeking to renew its authority for directors to issue shares and dis-apply pre-emption rights, but only up to a maximum of 7.5% of the issued ordinary share capital, providing flexibility for capital investment and stakeholder alignment. A general meeting is scheduled for April 8, 2026, to consider these resolutions. Disclaimer*
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\n \nThis announcement replaces the RNS released on 23 March 2026 (RNS Number: 6671X) to correct an error. The dis-application of pre-emption rights is limited to a maximum of 7.5%, of the Company's issued ordinary share capital, not 10% as previously announced. All other information remains unchanged.\n \n \nthis announcement contains inside information for the purposes of article 7 of the market abuse regulation (eu) 596/2014 (which forms part of domestic uk law pursuant to the european union (withdrawal) act 2018 ('uk mar'))\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 Metals Group PLC\n('Jubilee' or 'the Company' or 'the Group')\n \nRegistration number: 4459850\nAIM share code: JLP\nAltx share code: JBL\nISIN: GB0031852162\n \n \nProposed Reduction of the Share Premium Account and\nNotice of General Meeting\nJubilee, the Zambia copper focused producer, announces the Company's proposal to reduce its share premium account (Capital Reduction) in order to restructure the Company's balance sheet so as to increase the amount of available distributable reserves available (subject to the protection of creditors). The Company furthermore expects to release the phase 1 drill results of its Molefe Mine operations on Tuesday 24 March 2026.\nThe Capital Reduction will create distributable reserves to support the Company's ability to make future payments of dividends to its shareholders and undertake potential share buybacks (in each case should circumstances mean it is appropriate or desirable to do so), as well as other corporate purposes of the Company.\nThe Capital Reduction is conditional upon passing of a special resolution by the Company's shareholders in addition to approval of the Court. \nIn addition, the Company is also seeking to renew the standard authority to grant Directors authority to issue shares as granted at the previous 2024 AGM and to dis-apply pre-emption rights. The Company wishes to dis-apply pre-emption rights only to a maximum of 7.5% of the issued ordinary share capital of the Company. The Dis-application Resolution is to give flexibility to the Company to issue new warrants, options or...