RNS28 Jan 2021 13:50
Jubilee announces that further to the announcement on 15 January 2021, it has registered the new institutional investors onto its share register, including Jupiter Asset Management Limited which now holds 3.65% of the Company's shares in issue. The total shares held by significant institutional investors in Jubilee has reached 45% of the total issued capital, reflecting strong institutional support.
The Company has also received notification from a warrant holder to exercise 4 000 000 existing warrants in the Company (the "Warrant Shares"). The Warrant Shares have been exercised at a weighted average price of 3.4 pence (ZAR 70.66 cents) per Warrant Share amounting to a cash value of £ 136,000 (ZAR 2,826,270).
The Warrant Shares, representing 0.18 % of the enlarged issued share capital of Jubilee, will be traded in the market and placed with institutional shareholders to satisfy on-going institutional demand.
Leon Coetzer, Chief Executive Officer, commented: " The continued support we are experiencing from institutional investors is extremely encouraging and again highlights the successful implementation of our strategy to date and more importantly the opportunity for investors going forward.
"Jubilee's share register now includes some 45% held by institutional shareholders which reflects and confirms the Company's successful development and growth potential.
"We have experienced a very positive start to 2021 operationally including the construction of a new 80 000 tonne per month chrome operation adjacent to Inyoni's PGM operation which is on track to commence with commissioning during Q1 2021. The further expansion of the Inyoni PGM operations is progressing well and I invite shareholders to view the progress on our website.
"This expansion of our South African operations together with the targeted significant ramp up of our copper operation in Zambia is expected to continue to grow Jubilee's record H2 2020 earnings."
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