Wrap Text
Equity Placing to Support Targeted Growth
Jubilee Metals Group Plc
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
(“Jubilee” or the “Company”)
Equity Placing to Support Targeted Growth
This announcement contains inside information for the purposes of article 7 of the market abuse
regulation EU 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in
respect of the matters contained in this announcement, with the result that certain persons became
aware of such inside information as permitted by MAR. That inside information is set out in this
announcement and has been disclosed as soon as possible in accordance with paragraph 7 of article
17 of MAR. Upon the publication of this announcement, the inside information is now considered to
be in the public domain and such persons shall therefore cease to be in possession of inside
information in relation to the Company and its securities.
Jubilee Metals Group Plc ("Jubilee" or “the Company”), the AIM and Altx traded metals processing
company, is pleased to announce that the Company has raised £6.49 million (ZAR 124.45 million)
(before expenses) through a placing of 162,208,900 new ordinary shares in the Company (“Placing
Shares”) at a price of 4 pence per share (the "Placing"). The Placing Shares represent approximately
8.0% of the enlarged issued share capital.
The proceeds of the Placing will be used towards the completion of the chrome and PGM
transaction at the Company’s Inyoni Operations as announced on 24 October and 5 November 2019
and to implement the Company’s targeted expansion plans which includes the Kabwe zinc, lead and
vanadium refinery project in Zambia, and the roll-out of the Company’s successful fine chrome
solution at its DCM Fine Chrome Operations to all of its operations, including Inyoni and Windsor.
Commenting on the Placing, Leon Coetzer, CEO says: “This placing which was significantly
oversubscribed was carefully considered by Jubilee to support the acquisition of its chrome and PGM
rights at Inyoni while maintaining its capital roll out plan.
“As we announced in our final results earlier today, our earnings continue to show significant growth
and the addition of the chrome and PGM rights at our Inyoni Operation not only expands our
operational footprint but holds the potential to significantly further enhance our earnings.
“Our earnings growth for the first three months of the current financial year is showing significant
progress, driven, in part, by the implementation of our Windsor PGM project in late August which is
already outperforming our set targets, exceeding 5 000 PGM ounces produced for the month of
September alone. We expect to continue on this growth trajectory with the further addition of our
chrome and PGM rights at Inyoni and the roll-out of our fine chrome solution which precedes our
Zambian based Kabwe project.
“We are thankful for the support we have received from our new and existing shareholders.”
Application will be made for the Placing Shares to be admitted to trading on AIM ("Admission") and
it is expected that Admission will become effective on or around 21 November 2019. The Placing
Shares will rank pari passu with the existing ordinary shares of 1 pence each (“Ordinary Shares”).
Following the issue of the Placing Shares, the Company will have 2,017,509,573 Ordinary Shares in
issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in
treasury. The above figure of 2,017,509,573 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the share capital of the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter (@Jubilee
Metals) or contact:
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/Vassil Kirtchev
Tel: +44 (0) 20 3368 3555
Broker - Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7186 9900
Joint Broker – WHIreland
Harry Ansell/ Dan Bristowe
Tel: +44 (0) 207 220 1666/+44 (0) 113 394 6618
Katy Mitchell/Lydia Zychowska
Tel: +44 (0) 161 819 8875
JSE Sponsor - Sasfin Capital (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
PR & IR Adviser - St Brides Partners Limited
Catherine Leftley/ Beth Melluish
Tel +44 (0) 20 7236 1177
United Kingdom
14 November 2019
Date: 14/11/2019 03:15:00
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