JUBILEE PLATINUM PLC - all conditions precedent satisfied for disposal of Middelburg assets

all conditions precedent satisfied for disposal of Middelburg assets

Jubilee Platinum PLC
Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or the "Company”)


Jubilee satisfies all conditions for the Disposal of Middelburg Assets

Jubilee, the Mine-to-Metals company, is pleased to announce that at all conditions precedent have
been satisfied with regard to the disposal of 100% of the issued shares in Jubilee Smelting and
Refining Proprietary Limited (“JSR”), the owner of the Middelburg Smelter and 70% of the issued
shares in Power Alt Proprietary Limited (“PA”), the owner of the Power Plant for a combined
consideration of ZAR 110.5 million (approximately GB5.3 million) (the "Disposal"). Jubilee concluded
the Disposal with Siyanda Resources Proprietary Limited acting though Main Street 1347 Proprietary
Limited -a special purpose vehicle established for the purposes of the Disposal.

Highlights

-   All conditions precedent to the Disposal satisfied

-   Transfer of ownership on 30 September 2015 with final settlement on 9 October 2015

-   Jubilee to receive in, aggregate ZAR110.5 million (approximately GBP5.3 million), for the
    Disposal on 9 October 2015

-   Jubilee retains right to construct a 5MW platinum furnace at the Middelburg Operations

-   Jubilee retains rights to participate in any expansion of the Power Plant

-   The Disposal further facilitates Jubilee’s fast track approach towards the implementation of
    the two Platinum Surface Processing projects in 2016



Leon Coetzer CEO said: “The unconditional sale of our non-platinum assets is an important
milestone for the Company as we accelerate towards becoming a significant platinum producer.

“We remain on track to bring into operation our surface platinum projects while the Company
continues on its mission to seek further low cost platinum opportunities.”



The Platinum Surface Projects target to process 80,000 tons per month of platinum containing
surface material delivering an estimated production of 42,000 ounces of PGMs in concentrate per
annum.
The last outstanding conditions precedent under the Disposal were satisfied by the Competition
Commission of South Africa granting the unconditional approval of the Disposal and the successful
completion of a health assessment confirming a clean bill of health of all employees as prescribed in
the sale and purchase agreement.


Contacts

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

Nominated Adviser
SPARK Advisory Partners Limited
Sean Wyndham–Quin
Mark Brady
Tel: +44 (0)203 368 3555

Broker
Beaufort Securities Limited
Elliot Hance
Tel +44 (0) 20 7382 8416

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

16 September 2015

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