IN BRIEF: Jubilee Metals shareholders approve capital reduction

Jubilee Metals Group PLC - London-based metal processing company - Says its shareholders have approved its proposed capital reduction plan at a general meeting on Wednesday. It has said that the reduction of the share premium account, or capital reduction, aims to restructure its balance sheet so as to increase the distributable reserves available to support its ability to make future payments of dividends to its shareholders and undertake potential share buybacks. Notes that a resolution to grant the directors authority to allot shares was withdrawn.

Current share price in Johannesburg: 74 rand cents, up 4.2% on Wednesday

12-month change: down 1.3%

Current share price in London: 3.23 pence, up 1.1%

12-month change: up 14%

By Artwell Dlamini, Alliance News senior reporter South Africa

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Jubilee Metals