Jubilee Metals Regulatory News (JLP)

27 Jan 2006 16:06

Jubilee Platinum PLC27 January 2006 The following replaces the Issue of Loan Note Announcement which was releasedtoday at 15.22pm under RNS number 5756X. An additional bullet point has been added regarding the interest rate. 27 January 2006 AIM: JLP JUBILEE PLATINUM PLC ("Jubilee" or "the Company") £1.5 million raised by way of a 4 year unsecured loan note convertible at 70p Jubilee is pleased to announce that it has come to an agreement with CityNatural Resources High Yield Trust Plc for the provision of a £1.5 millioncapital raising. The cash raised will be used to fund working capitalrequirements for its exploration and development programmes in South Africa andMadagascar. The principal terms of the loan note are: • The loan note is unsecured and has a maturity date of 26 January 2010 • The note attracts interest at 8% per annum paid quarterly • The loan note is convertible at the option of the holder at any time prior to the maturity date, after 12 months from the issue date, at a price of £0.70 (conversion price), by the Company issuing 2,142,857 Ordinary 1p shares • After the initial 12-month period, if the 20-day average closing price of the Company's shares at any time attains £0.85 or more, the Company may call the convertible loan note for conversion at the conversion price • The number of ordinary 1p shares to be issued upon conversion of the note are subject to proportional adjustment to reflect stock dividends, share splits, reverse share splits and other anti-dilutive events • Upon a change of control involving the acquisition of voting control or direction over 50% or more of the ordinary shares of the Company, City Natural Resource High Yield Trust Plc has the right to require the Company to repurchase their loan note, in whole or in part, at a price equal to 101% of the principal amount, plus accrued and unpaid interest thereon For further information please contact: Colin Bird Justine Howarth / Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange