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JBL - Jubilee - Jubilee secures GBP15 million Standby Equity Distribution Agreement Jubilee Platinum PLC AIM: JLP JSE: JBL Registration number: 4459850 ISIN GB0031852162 ("Jubilee" or the "Company") Jubilee Platinum plc ("Jubilee" or "the Company") Jubilee secures GBP15 million Standby Equity Distribution Agreement ("SEDA") The SEDA will allow Jubilee to seek acquisition opportunities in near term mining projects Highlights - Jubilee secures acquisition funding source. - GBP15 million standby facility secured with fund drawdown and equity distribution controlled by the board. - This facility enables Jubilee to act promptly on opportunities to acquire chrome and platinum properties strategically suitable for ConRoast. - Current cash in bank of GBP8 million remains committed to Jubilee`s expanding smelting and on-going project operations. Jubilee announces that it has entered into a GBP15 million SEDA with YA Global Master SPV Ltd, an investment fund managed by Yorkville Advisors LLC, further details of which are set out below. The funds available under the SEDA will be used by Jubilee to enter into joint ventures with or to acquire small chrome and platinum mines. Such joint ventures or acquisitions complement the ConRoast business by securing concentrate or concentrate purchase. Commenting on the SEDA agreement,Leon Coetzer,Chief Executive Officer of Jubilee said: "We are delighted to be announcing this standby arrangement for funds of up to GBP15 million. This will enable Jubilee to take advantage quickly of identified opportunities to acquire small to medium platinum-chrome mines consistent with the ConRoast growth strategy. "This facility means Jubilee can acquire suitable targets without recourse to current cash, which is allocated for our on-going Middelburg smelter expansion and project development plans." SEDA Facility Subject to its terms, the GBP15 million SEDA facility can be drawn upon at the discretion of the Company. Under the terms of the agreement, Jubilee may draw down on funds over a period of up to two years by way of the issue of New Ordinary Jubilee Shares for cash. The Ordinary Shares issued by the Company will be at a 4% discount to the prevailing market price during the 10 day pricing period of a draw down and also subject to the pricing rules of the JSE Limited. The Company may also set a minimum price for each draw down. The maximum advance that may be requested is 200% of the average daily trading volume of Ordinary Jubilee Shares multiplied by the volume weighted average price of such shares for each of the 10 trading days prior to the draw down request or GBP2,000,000, whichever is lower. The facility may only be drawn down upon once every 10 days. Rationale Numerous small-scale near-term, mining opportunities are being presented to Jubilee due to its ability to process platinum concentrates containing high chrome values. These opportunities offer Jubilee the potential of processing its own platinum concentrates through its Middelburg smelting facilities in the period before its Tjate Platinum project comes into production. The ability to process its own platinum concentrates through the Middelburg facility significantly enhances Jubilee`s cashflow generating ability. The Company would like to clarify that this announcement is unrelated to the cautionary announcement dated 14 March 2011. Contacts Leon Coetzer/Colin Bird Jubilee Platinum plc Tel +27 (0)11 465 1913/ +44 (0) 20 7584 2155 Andrew Sarosi Jubilee Platinum plc Tel +44 (0) 1752 221937 Matthew Robinson/Rose Herbert finnCap Ltd Tel +44 (0) 20 7600 1658 Leonard Eiser /Sharon Owens Sasfin Capital Tel +27 (0) 11 809 7500 Michael Kinirons/Nick Rome Bishopsgate Communications Ltd Tel +44 (0) 20 7562 3350 London 15 March 2011 SPONSOR SASFIN CAPITAL (A DIVISION OF SASFIN BANK LIMITED) Date: 15/03/2011 09:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
