Share issue

RNS Number : 1229A
Jubilee Platinum PLC
14 February 2014
 



Registration number (4459850)                                          

AltX share code: JBL

AIM share code: JLP  

ISIN: GB0031852162                                 

 

14 February 2014

Jubilee Platinum PLC

("Jubilee" or the "Company" or the "Group")

 

 

Share issue to convert loan notes and settlement of former director remuneration

 

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 a further £450,000 (total conversion to date equal to 48% of Loan Notes) of Darwin's £1.85 million Convertible Loan Notes ("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.

 

Jubilee is also issuing 1,803,669 ordinary shares ("Settlement Shares") in terms of a settlement agreement with its former Finance Director, Eduard Victor. The shares are issued a price of 2.25 pence (41.27 cents), being the closing price of Jubilee's ordinary shares on 13 February 2014, to settle Mr Victor's outstanding director's remuneration of £40,583 (ZAR653,064).

 

Application is in the process of being made by Jubilee for the Conversion Shares and the Settlement Shares (in aggregate 26,398,236 new ordinary 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 20 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 and the Settlement Shares, the Company's total issued share capital will comprise 436,257,616 ordinary shares.

---ENDS---

 

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

 


This information is provided by RNS
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