Business
SOUTH AFRICAN 21-DAY LOCKDOWN UPDATE
SOUTH AFRICAN 21-DAY LOCKDOWN UPDATE.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 3791H\n Jubilee Metals Group PLC\n 24 March 2020\n \n \n \n \n Jubilee Metals Group PLC\n \n \n Registration number (4459850)\n \n \n AltX share code: JBL\n \n \n AIM share code: JLP\n \n \n ISIN: GB0031852162\n \n \n (\"Jubilee\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).\n \n \n Not 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 \n \n \n \n \n SOUTH AFRICAN 21-DAY LOCKDOWN UPDATE\n \n \n \n \n \n \n On the 23rd of March at 7:30 pm South African time the President of South Africa, Cyril Ramaphosa, announced a 21 day nationwide lockdown to combat the potential rapid rise COVID-19 infection rate.\n \n \n \n \n \n The key elements of the lockdown is that from midnight Thursday the 26th of March 2020, people will not be allowed to leave their homes except to buy food, medical supplies, collect social grants or seek medical attention.\n \n \n \n \n \n The effect of the lockdown is that most businesses will be forced to close during the period and only essential services will remain open and as such Jubilee will be forced to put its South African operations under care and maintenance for the 21 day period.\n \n \n \n \n \n The board has in anticipation of the lockdown decision put in place, at all of Jubilee's relevant operations, measures to identify high risk situations and personnel. At the time of the lockdown announcement the company had no reported cases of COVID-19. Management, since the beginning of March, has been proactive in minimising cost and maximising production, with all senior management, irrespective of designation, being assigned to operations to pursue the aforementioned objectives. \n \n \n \n \n \n During the lockdown period, security staff will maintain their duties and vigilance. Process components will be prepared for orderly shutdown with in-process stocks available for a seamless restart. \n \n \n \n \n \n During the period prior to lockdown, saleable stocks will be liquidated including current work in pro...