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JBL - Jubilee Platinum Plc - Issue of equity

Release Date: 13/10/2011 14:45
Code(s): JBL
Wrap Text

JBL - Jubilee Platinum Plc - Issue of equity AIM: JLP JSE: JBL Registration number: 4459850 ISIN GB0031852162 Jubilee Platinum PLC ("Jubilee" or the "Company") OPERATIONS UPDATE ISSUE OF EQUITY The Company is pleased to announce a placing of 31,585,714 new ordinary shares of 1 pence each in the Company (the "Placing Shares") to raise GBP 4.422 million. The Placing Shares have been placed jointly by Shore Capital Stockbrokers Limited and finnCap Limited as agents to the Company, subject to the admission of the shares to trading on AIM market of the London Stock Exchange ("AIM") and the JSE Limited ("JSE"), with major institutional investors at a price of 14.00 pence per share (ZAR1.72). The proceeds of the placing will be used, together with existing cash resources, to support growth within the Company`s strategic business areas, through which Jubilee is implementing its mine-to-metals strategy. The Company expects the Placing Shares to be admitted to trading on AIM and the JSE on 18 October 2011. Following the placing, the total issued share capital of the Company will be 288,121,806. The Company holds no ordinary shares in treasury. Therefore, following the placing, the total number of voting rights in the Company will be 288,121,806. The Placing shares will be placed with public shareholders and will rank pari passu with the existing shares in issue of Jubilee. Leon Coetzer, Chief Executive Officer of Jubilee Platinum said, "The Board of Jubilee is pleased with the support shown by our major shareholders and we welcome new shareholders as we continue with implementation of our mine-to-metals strategy." PRO FORMA FINANCIAL EFFECTS At the annual general meeting of the Company held on 26 November 2010, the requisite majority of Jubilee shareholders approved an ordinary resolution authorising the directors to issue shares for cash in accordance with the Listings Requirements of the JSE ("general authority"). In accordance with the general authority, the Company has successfully placed the Placing Shares with institutional investors raising GBP4.422 million. The unaudited pro forma financial effects of the issue of new ordinary shares in terms of general authority, based on the published reviewed financial results of Jubilee for the twelve months to 31 June 2011, are set out below. The financial effects have been prepared in accordance with the terms of the Listings Requirements of the JSE Limited, are for illustrative purposes only and due to their nature, may not truly reflect Jubilee`s financial position or results of operations. The directors of Jubilee are responsible for the preparation of the unaudited pro forma financial effects Effects per Jubilee share Before 1 After Percentage placing 2 change
(Loss)/ earnings per share (3.77) (3.68) (2.39) (pence) Headline (loss)/ earnings (3.77) (3.68) (2.39) per share (pence) Net asset value per share 32.25 30.35 6.20 (pence) Tangible net asset value 5.68 5.06 10.96 per share (pence) Weighted average shares in 163,573 170,063 3.97 issue (`000) Shares in issue (`000) 256,536 288,121 12.31 Notes: 1.The figures in the before column are extracted from the published reviewed results of Jubilee for the twelve month to 30 June 2011. The shares in issue include 2,072,802 shares issued in terms of the general authority prior to 30 June 2011 2. The figures in the After placing column assume that: - 31,585,714 new Jubilee shares issued in terms of the general authority on 24 November 2010 at 14p were in issue from 1 July 2011 for loss per share and headline loss per share purposes and the cash received on 10 October 2011 for net asset value per share and tangible net asset value per share purposes; and - The Placing Shares issued in terms of the general authority were in issue from 1 July 2011 for loss per share and headline loss per share purposes and the cash received on 10 October 2011 for net asset value per share and tangible net asset value per share purposes; For further information please contact: Colin Bird/Leon Coetzer Jubilee Platinum plc Tel +44 (0) 20 7584 2155 / Tel +27 (0)11 465 1913 Andrew Sarosi Jubilee Platinum plc Tel +44 (0) 1752 221937 Matthew Robinson/Rose Herbert - corporate finance Joanna Weaving - corporate broking finnCap Ltd Tel +44 (0) 20 7600 1658 Shore Capital Stockbrokers Limited (Joint Broker) Jerry Keen/ Edward Mansfield Tel: +44 (0) 20 7 408 4090 Leonard Eiser/Sharon Owens Sasfin Capital Tel +27 (0) 11 809 7500 Nick Rome/Shabnam Bashir Bishopsgate Communications Ltd Tel +44 (0) 20 7562 3350 Johannesburg 13 October 2011 Sponsor Sasfin Capital (a division of Sasfin Bank Limited) Date: 13/10/2011 14:45:01 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.

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