JUBILEE PLATINUM PLC - Conversion of loan notes to equity and new 3rd Arc furnace on track

Conversion of loan notes to equity and new 3rd Arc furnace on track

JUBILEE PLATINUM PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
 ("Jubilee" or the "Company” or the “Group”)

                                                            

CONVERSION OF LOAN NOTES TO EQUITY AND NEW 3rd ARC FURNACE REMAINS ON TRACK

Jubilee, the AIM quoted and ALTx quoted Mine-to-Metals specialist, announces that it has
received a notice of exercise by Darwin Strategic Limited (“Darwin”) to convert £450,000 (or
24%) of Darwin’s £1.85 million Convertible Loan Notes (as announced on 23 December
2013) into equity at a gross conversion price of 1.82967 pence per share. A total of
24,594,567 new ordinary shares will be issued to Darwin (the “Conversion Shares”) pursuant
to the notice. The Company also announces that it remains on track for the commissioning of
     
its 3rd ARC furnace at its Middelburg Smelter which is expected to commence in March 2014.
                                                                                       
Leon Coetzer, CEO of Jubilee Platinum, said: “Our focus is on commissioning the 3rd ARC
furnace which was enabled through the funding provided by the Convertible Loan Note from
                                                     
Darwin and a milestone for the Company. Once the 3rd ARC furnace is fully operational, our
smelting operations are expected to be able to contribute positive cash flow to the Group,
supporting the Company’s operational cash flow requirements.

“The furnace lining is ahead of schedule and is no longer on the critical path for the
completion of the furnace resulting in stronger confidence in meeting the targeted time lines.

“The furnace is already fully contracted and we are well positioned to quickly switch to
platinum-bearing material as the Company aggressively explores a range of other
opportunities.”

Application is in the process of being made by Jubilee for the Conversion Shares to be
admitted to trading on AIM and listed on the ALTx of the JSE Limited, which is expected to
take place on or about 10 February 2014. The Conversion Shares will rank pari passu in all
respects with all existing ordinary shares in the Company.

Following admission of the Conversion Shares, the Company’s total issued share capital will
comprise 409,859,380 ordinary shares


Contacts

Jubilee Platinum plc
Colin Bird
Tel +44 (0) 20 7584 2155
Leon Coetzer
Tel +27 (0)11 465 1913
Andrew Sarosi
Tel +44 (0) 1752 221937

JSE Sponsor
Sasfin Capital, a division of Sasfin Bank Limited
Sharon Owens
Tel +27 (0) 11 809 7500

NOMAD
finnCap Ltd
Matthew Robinson/Ben Thompson – corporate finance
Joanna Weaving – corporate broking
Tel +44 (0) 20 7220 0500
Bishopsgate Communications Ltd
Nick Rome/Anna Michniewicz
Tel +44 (0) 20 7107 1890

5 February 2014
Johannesburg

Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 05/02/2014 12:20:00 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.